TERRACRG SELLS NYC MIXED-USE BUILDING FOR $15M

NEW YORK CITY — TerraCRG has closed the $15.5 million sale of a 23,900-square-foot mixed-use property located at 76-82 St. Marks Ave. The sale price translates to a 3.6 percent capitalization rate and $627 per square foot. The property is located at the intersection of Flatbush Avenue, 6th Avenue and St. Marks Avenue in the Park Slope neighborhood for Brooklyn. Adam Hess, Ofer Cohen and Geoff Bailey represented the buyer and seller in the transaction. The fully occupied property includes 15 apartments, three commercial spaces and 24,000 square feet of air rights.