Douglaston Development has acquired a 474,000-square-foot mixed-income housing development site in Bedford-Stuyvesant, Brooklyn from BEB for $66 million. This collaborative effort involves Totem, BEB, Bedford Stuyvesant Restoration Corporation (BSRC), St. Nicks Alliance and TerraCRG with the goal of delivering 137 permanently affordable units as part of a 456 unit mixed income housing development at 1057 Atlantic Avenue. The project also includes ground floor retail space and amenities such as a gymnasium, game room and children’s playroom with construction already underway on the site.
TerraCRG – a commercial real estate brokerage firm specializing in Brooklyn Investment Sales – facilitated the assemblage of lots in 2019 through their team led by Totem and Ofer Cohen before brokering this transaction.
