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Posted: May 24, 2022
TerraCRG close on $42 million sale of four multifamily buildings
Brooklyn, NY TerraCRG has closed on the $42 million sale of a unique four elevator multifamily portfolio located at 550 E 21st St., 850 E 17th St., 855 E 19th St. and 3111 Aurelia Ct.
On the market for the first time since being built in the 1940s, this portfolio of significant size and scale comprises a total of 246 fully rent-stabilized units featuring 58 parking spaces and traded below a 5% Cap Rate.
This Midwood portfolio is a testament to the resilience of the market as investors continue to seek large assets and investment opportunities within the borough.
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