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TerraCRG Brokers Mixed-Use Sale on Border of Bushwick and Ridgewood

TerraCRG has closed on the sale of a mixed-use building at 1712 Menahan St. on the border of Bushwick in Brooklyn and Ridgewood in Queens. TerraCRG partner Matt Cosentino represented the seller, Eli Krantz, of Deergrow Developments, in the $2.7-million sale.

“We have worked with this seller for many years and have cultivated a relationship that has proven to be strong and longstanding,” said Cosentino, partner of TerraCRG.  

The gut-renovated corner property consists of five rental apartments and a retail store, all of which are fully-occupied. Alex Lebowitz and Billy Haddad, of Partners Path Capital, purchased the property for a price reflecting a 6% capitalization rate at $511 per gross square foot.  

Located on the corner of Cypress Avenue and Menahan Street, this property is situated on a high-traffic intersection, surrounded by a myriad of dining, arts, and entertainment options, says TerraCRG.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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