NEW YORK CITY-TerraCRG has closed on the sale of two units at the TOREN commercial condominium on Myrtle Avenue in Brooklyn for a combined $9 million.
The Brooklyn-based commercial real estate brokerage and advisory firm acquired a retail unit and a parking garage at 150 Myrtle Ave. in downtown Brooklyn, according to the Commercial Observer.
The 11,000-square-foot ground floor retail space sold for $6.75 million. Metropolitan City Market currently occupies the unit. The 21,780-square-foot, three-level, 97-car parking garage, which currently has an operator in place, sold for $2.25 million.
“In the immediate area of Downtown Brooklyn over 3,500 new construction luxury apartments were built and over 3,000 units are in the development pipeline right now… making this a unique opportunity to capitalize on this under-served market,” stated Ofer Cohen, founder and president of TerraCRG. Cohen and colleagues Melissa DiBella and Geoffrey Bailey handled both sides of the transaction. See story in the Commercial Observer.
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