8,982 Building SF Mixed use building

Overview

TerraCRG, Brooklyn’s leading commercial real estate brokerage firm, has announced the sale of 482 Tompkins Avenue, a mixed-use building in Bedford-Stuyvesant, Brooklyn. Matt Cosentino, along with Fred Bijou and Eric Satanovsky, closed the deal at $3,072,500 in just one week from contract signing. “Finding 16 units in this prime section of Bed-Stuy is very challenging, but the buyer’s ability to close this transaction was a significant factor in the seller’s willingness to move forward quickly,” said Fred Bijou, Senior Associate at TerraCRG. Fred originated the off-market transaction purchased by Urban Standard Capital. The closing price equates to about a 5% cap rate at $340 per SF.   The building contains approximately 10,823 SF and consists of 14 residential units and two retail stores on Tompkins Avenue. Of the 14 residential units, all are one-bedroom.