Five Commercial Properties Change Hands

Real estate firm TerraCRG announced it has closed sales on five commercial properties in Brooklyn. While all were spread out across the borough and separate deals, the value of the five came to $10.08 million, the firm said. The new owner of a vacant, 9,540 square foot residential development site at 375 Prospect Place in Prospect Heights, above, plans to develop a six-story-high building with seven units. It sold in October for $1.2 million, said TerraCRG. As we reported that month, the architect is Bricolage Architects and Design. Other deals likely to spur changes were at 156 Broadway between Bedford and Driggs in Williamsburg. There, a vacant, mixed-use, three-story building sold in September for $2.65 million. Over in Cobble Hill at 213 Union Street another vacant, three-story, mixed-use building sold for $1.275 million. The other sales were at the boutique-condo-turned rental building at 137 5^th Avenue in Park Slope and a rent-stabilized eight-unit building 139 Starr Street in Bushwick, both occupied. “These recent transactions demonstrate the strength of the Brooklyn commercial sales market which we anticipate will total $3 billion dollars in sales for 2012,” said Ofer Cohen, founder and president of TerraCRG.