Asset CRG successfully brokered the sale of 1308-1314 Lincoln Place in Brooklyn's Crown Heights neighborhood. The property, a stalled development site, was sold for $4,300,000, equating to approximately $213 per square foot. The lot measures 80 feet by 100 feet, encompassing a total of 20,164 square feet. Initially constructed in 2015, the site was stalled and was delivered as-is, including over $400,000 in violations.
Upon the lender's foreclosure and subsequent repossession of the property, Asset CRG was exclusively engaged to manage the sale. Demonstrating their market expertise and efficiency, the team secured multiple bids and placed the property under contract within thirty days of listing.
This transaction highlights Asset CRG Advisors' proficiency in navigating complex real estate deals, particularly those involving distressed assets. Their ability to swiftly secure multiple offers and finalize the sale reflects their commitment to delivering value to clients and contributing to the revitalization of urban spaces.
