Red Hoek Portfolio Turnkey Portfolio Sale Poised for 1031 Exchange Buyer Red Hook
<p>TerraCRG successfully closed the $12.4 million sale of the Red Hook Portfolio, a collection of four multifamily and mixed-use buildings totaling 17 free-market residential units and two retail storefronts in Brooklyn’s historic Red Hook neighborhood brokered by TerraCRG’s Daniel Lebor and Matthew Cosentino. Representing the seller, REDHOEK+, TerraCRG’s investment sales team strategically positioned the recently gut-renovated portfolio as a turnkey investment opportunity featuring luxury finishes, low operating expenses, and approximately $950,000 in annual gross rent, attracting strong interest from 1031 exchange buyers and private investors due to its stabilized cash flow and Tax Class Protected status. TerraCRG leveraged its deep Brooklyn market expertise and targeted marketing strategy to successfully complete the transaction at an estimated 6% cap rate, delivering a strong outcome for the seller.</p>
About this Property
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Neighborhood
Red Hook
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Gross SF
15,337
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Residential Units
17
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Commercial Units
2
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Total Units
19
