Transaction Summary & Investment Strategy
In September 2015, CGI purchased a site located at 613 4th Avenue, at the corner of 18th Street in the South Slope area of Brooklyn, New York. Shortly thereafter, CGI bought 6,462 square feet of additional development rights and negotiated the purchase of two adjacent contiguous lots, assembling a very impressive site of 100 feet of frontage on 4th Avenue and 125 feet of frontage on 18th Street. The total projected cost is estimated to be approximately $45.0MM. The completed building is anticipated to be 12 stories of residential over 8,000sf ground-floor retail space.
|Property Address||613 4th Ave, Brooklyn, NY|
|Asset Type||Mixed-Use Residential & Retail Development|
|Size||70 Residential Units & 8,000 sf Retail Space|