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TerraCRG Closes Sale of Property in East New York O-Zone

TerraCRG closed on the $2.5-million sale of a 13,500-square-foot commercial property at 555 Liberty Ave. in East New York. Dan Marks, Daniel Lebor, and Rob Finnerty exclusively represented the seller, Moshe Simpson. 
 
“Located both within an Opportunity Zone and the East New York rezoning area, this site offers residential and commercial use options and reflects the mixed-use potential for this neighborhood,” said Marks. “Our team remains bullish about Brooklyn’s commercial sector and the pipeline of new investment opportunities in the months to come.”

The two-story corner building sits on an approximately 7,500-square-foot lot that includes a 2,300-square-foot side yard and garage. The property features 13-foot ceiling heights, is easily divisible for multiple tenant uses, and will be delivered vacant to the buyer, Chad Nelson.

Within the East New York rezoning area, a number of developments are nearing completion or have been completed in recent months.

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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 16-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 7-10 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 GlobeSt.com 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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