January 5, 2015

Bed-Stuy tower yields owner a quick 50% return

The tallest privately owned building in Brooklyn’s Bedford-Stuyvesant has sold for $13 million in the latest sign that the fast-gentrifying neighborhood continues to attract real estate investors eager to cash in on its rising rents and apartment prices.

Ofer Cohen, president of Brooklyn-focused brokerage firm TerraCRG, handled the sale with colleague Matt Cosentino on behalf of Gaia.