TerraCRG has closed on the $7.4 million sale of a 15,300 s/f development site at 1070 Flatbush Ave. in Flatbush. Ofer Cohen, Daniel Lebor, and Peter Matheos of TerraCRG represented the seller, Freda Realty Company, LLC.
“This is a great example of one of the last deals of ‘AffordableNY,’” said Cohen, founder and CEO of TerraCRG. “Because of the looming expiration of the tax abatement program, there was a rush this past spring to secure sites and go vertical on time.”
….
TerraCRG also closed on the sale of three contiguous mixed-use buildings in Flatbush totaling $3.95 million. Matt Cosentino and Isaiah Thomas of TerraCRG exclusively represented the seller, Deergrow Developments.
The Affordable New York Housing Program is set to expire in June 2022.
Read the full story here.