Real Estate Weekly
Image default
Deals & Dealmakers

TerraCRG Sells $42.5M Residential Development Site in Williamsburg

TerraCRG, Brooklyn’s leading commercial real estate brokerage firm, has closed on the $42,500,000 sale of 575 Grand Street, a residential development property in Williamsburg. TerraCRG Partners Daniel Lebor and Dan Marks exclusively represented the seller on this deal.

The 27,500-square-foot site occupies half a block, stretching from Lorimer to Leonard Street, and the C4-4A zoning allows 110,000 buildable square feet.

”This transaction is representative of the demand for residential development sites that have the ability to qualify for Affordable New York before the abatement expires in June,” said Lebor. “575 Grand Street presents a unique opportunity to capitalize on this moment in one of the most active neighborhoods in Brooklyn.”

The site is ideally situated just four blocks from the Metropolitan Avenue-Lorimer Street subway station, serviced by the L and G trains, as well as near the J/M/Z lines and the East River Ferry. 

(Visited 1 times, 1 visits today)

Related posts

Oxford Properties forms partnership with Norges at Berlin’s iconic Sony Center in $717 million deal

REW

Gaia Real Estate Announces Full Exit Of Copperfield Portfolio

REW

Parkview Financial Provides $21.5 Million Loan for Vacant Hotel Acquisition and Conversion to Apartments/Retail in Newark, NJ

REW