TerraCRG announced that they have closed on the sale of the building located at 401 State Street in the Boerum Hill neighborhood of Brooklyn. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented the seller,Joseph Streicher, in the transaction. Mark Kennedy of Douglass Elliman represented the buyer.
The 12,000 s/f three-story building sold for $10,000,000, equal to $833 per existing SF. The 50 ft by 118 ft property was sold vacant and could be ideal for a community facility, office or a residential conversion.
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