Matheos of TerraCRG chosen to market 8111 Third Avenue, Bay Ridge

Brooklyn, NY TerraCRG has just begun the marketing in the sale or ground lease of 8111 Third Ave., one of very few development sites in Bay Ridge. Peter Matheos of TerraCRG, lead broker for this transaction, is presenting the site, along with his team. The property, which has 109 feet of frontage on Third Ave., is a rarity as development in Bay Ridge has recently been hard to come by. The site allows for 21,866 buildable s/f as of right for a retail, residential, office or a mixed-use development on one of the area’s most sought after retail corridors. “This site is on a well-established retail corridor with close proximity to transportation and 86th Street, where many national tenants have already established themselves. The zoning allows for a mix of retail and residential or retail with office above, which would be very attractive given the strong medical office uses and tenancies in the area,” says Peter Matheos, associate vice president at TerraCRG. “The property provides a rare opportunity as one of the few remaining development sites and potentially the last corner site in Bay Ridge.”