News:
Brokerage
Posted: July 21, 2020
TerraCRG sells Brooklyn industrial building for $7.2 million
Brooklyn, NY TerraCRG has completed the sale of the industrial asset at 5701 Foster Ave. in the Canarsie neighborhood. Dan Marks, Daniel Lebor, Adam Tannenbaum and Robert Finnerty closed the deal at $7.2 million.
“The Brooklyn industrial market remains in high demand and this sale is a prime example of that,” said Marks, partner at TerraCRG. “The sales process was very competitive and we are thrilled to have sold another industrial property in Brooklyn.”
TerraCRG exclusively represented both the buyer, Greenmount Holdings, LLC, and the seller, Autoparts Realty, LLC.
5701 Foster Ave. is zoned M1-1 in an opportunity zone. The 30,600 s/f existing property sits on a 33,000 s/f lot and, at closing price, represents $235 per s/f.
Canarsie is an established neighborhood full of commercial warehouses, multifamily homes, and several parks throughout. Canarsie is a quiet, residential area of the borough with families who want to live close to the waterfront.
Tags:
Brokerage
MORE FROM Brokerage
Sobel of RIPCO Real Estate signs Redefine Meals as newest tenant at New Hyde Park Place
New Hyde Park, NY New Hyde Park Place, the rebranded commercial property at 271-02 Union Tpke.on the Nassau/Queens border, has signed new tenant Redefine Meals, the Long Island-based prepared-meal company, for a new 1,000 s/f location, starting on September
Quick Hits
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
.gif)
September Promotion
