Cosentino of TerraCRG brokers $1.426 million sale

Matthew Cosentino, vice president of investment sales at TerraCRG, has closed on the sale of 382-384 Macon St. in the Stuyvesant Heights Historic District of Bedford-Stuyvesant. 382-384 Macon St. is a multifamily building located between Marcus Garvey Blvd. and Lewis Ave. The three unit, 3,600 s/f building was sold along with the adjacent garage, which has an additional 4,000 s/f of total buildable space. The buyer has plans to renovate the property. The vacant property sold for $1.426 million. "There has been a huge increase in demand for Bedford Stuyvesant brownstones from both end-users and investors," said Cosentino, who specializes in investment sales in Bushwick and Bedford-Stuyvesant at TerraCRG. "The increased demand combined with very limited supply, particularly near the A & C subway stations along Fulton St., has caused this market to see some of the largest price increases in Brooklyn." The Stuyvesant Heights Historic District is one of the most beautiful neighborhoods in all of New York, and Macon St. is one of the most prime blocks in the district. Macon St. is lined with trees and brownstones. The building is located right near the corner of Lewis Ave., which has recently developed into a bustling retail corridor with newly opened restaurants like Italian trattoria, Saraghina, and the contemporary Southern, Peaches. The property is also conveniently located just a few blocks from the Utica Ave. A & C subway station, making for an easy commute into Manhattan and other area neighborhoods.