TerraCRG brokers $30m sale of 98,000 s/f industrial site at 360 Kingsland Ave.

Brooklyn, NY TerraCRG closed on the $30 million sale of a 98,000 s/f industrial site located at 360 Kingsland Ave. in Greenpoint. Dan Marks and Daniel Lebor, partners at TerraCRG, were the sole brokers in the deal.

Sitex Group, a real estate private equity firm, purchased the property from 360 Kingsland Ave Realty, LLC.

“TerraCRG is thrilled to broker the sale of another significant industrial site in Brooklyn,” said Marks. “This sale is yet another sign that the industrial market remains the most sought after and active asset class in New York City. We are excited to see what Sitex will do with this site and happy for the buyer which operated their business on the property for over a decade.”

The property features both manufacturing and office space. The site is zoned M3-1 with up to 196,000 buildable s/f. Located a short distance to the BQE, the site allows for distribution to Queens, Manhattan, and the rest of Brooklyn.

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