1501-Pitkin-Ave-NYC

TerraCRG Arranges $53M Sale of 165,000 SF Mixed-Use Property in Brooklyn

by Amy Works

NEW YORK CITY — TerraCRG has brokered the sale of 1501 Pitkin Avenue, a 165,000-square-foot mixed-use building in Brooklyn. POKO Partners sold the property to an undisclosed buyer for $53 million. Built in 1929, the former movie theater has been redeveloped into a mixed-use property featuring retail and educational space. The building features 12,371 square feet of retail space occupied by Pizza Hut, Subway and Dollar Tree, and a 152,404-square-foot charter school that serves 1,000 students. Ofer Cohen, Dan Marks, Matt Cosentino, Fred Bijou and Eric Satanovsky of TerraCRG brokered the deal.

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