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.
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 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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