TerraCRG retained to sell 12-18 Commerce Street in the Red Hook neighborhood of Brooklyn

TerraCRG has been retained to exclusively represent the sale of the commercial property at 12-18 Commerce St. in the Red Hook neighborhood. The property is located a couple of blocks from the entrance to the Hugh L. Carey Tunnel (Brooklyn-Battery Tunnel), making the drive into lower Manhattan less than five minutes. Also conveniently located just off the Brooklyn-Queens Expressway (I-278) for easy travel to all New York City borough's and Long Island and just a block and a half off Van Brunt Street, Red Hook's main commercial corridor. The 107 ft. x 100 ft. irregular lot is comprised of five buildings and is located between Richards St. and Columbia St. The property consists of 11,200 gross s/f and a shared approximate 966 s/f courtyard on the interior of the property. Currently the building is occupied by several tenants including music studios, offices, and storage space. The largest building on the lot consists of over 6,000 usable s/f and will be delivered vacant. The property is presented with an asking price of $2.3 million. Traditionally an industrialized community, Red Hook is an emerging creative neighborhood attracting artistic individuals from across the city to both live and work. Red Hook is home to both IKEA and Fairway Market. The developing art scene, restaurants, and retail shopping makes Red Hook an ideal location for continued residential growth and creative industrial uses. "We're seeing Red Hook transform from an industrial neighborhood into a hub for artists and musicians alike. Est4te Four is helping to accelerate this process by developing over 1.1M square feet of residential condos, retail, and office space on Imlay, Coffey, and Ferris Sts., just a few blocks from the property," said Dan Marks, VP of investment Sales at TerraCRG. TerraCRG is a real estate brokerage and advisory firm focused solely on commercial transactions in Brooklyn. In just six short years, and through the depths of the recession, TerraCRG established itself as a true Brooklyn market leader, completing over 70 transactions a year in Brooklyn by tailoring its approach to suit the needs of investors, property owners, developers and lenders. TerraCRG was a vital market player during the recovery that became evident with the strong market of 2011 and in 2012, the firm was ranked number 2 in the 2012 Top 10 Brooklyn Commercial Brokerage Firm Ranking by Co-Star.