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TerraCRG Puts Prospect Park South Site Under Contract
TerraCRG has put 608 Ocean Ave., a shovel-ready residential development site in Prospect Park South, Brooklyn, into contract. Partners Ofer Cohen and Daniel Lebor are marketing the property alongside senior associates Andrew Manasia and Jackson O’Neill.
“We have seen a huge surge in demand for development sites, like Ocean Avenue, that are vested for 421-a,” said Lebor. “This deal has been very competitive, with many qualified bidders looking to take ownership of the land. We will share further details of the deal once the transaction closes.”
The vacant 5,625-square-foot lot features 37.5 feet of frontage. Under the current set of approved plans, the project calls for an eight-story elevator building yielding approximately 22,000 net square feet of residential and will feature a mix of duplexed studios and one-bedroom apartments, along with private balconies and terrace space.
- ◦Sale/Acquisition
