Troutbrook swoops in to buy 21,000 s/f Brooklyn parcel.

Troutbrook Company, a full service real estate company, announced the acquisition and closing of a 21,000 s/f parcel of property at 185 Third Avenue, Brooklyn.

The parcel was acquired in a preemptive bid from the sellers, Electric Switchboard Inc. Marc Freud a principal in Troutbrook Company, stated that the firm was able to acquire the block front of property by offering the sellers a price above what they believed was an achieveable based on brokerage predictions.

The block front of property consists of five interconnecting buildings and is located on the northeast corner of a block-ront park that has two swimming pools and amenties catering to the neighborhood. The property spans 200 linear feet from Douglas to Butler Avenues Located within close proximity of Park Slope, the developers envision the site to be a spectacular development of a mixed use project in what Troutbrook perceives to be the next area of development, The Gowanus.

The site is 250 linear feet from a recently built Comfort Inn hotel and three blocks from the 140 room Holiday Inn express that recently opened; the Whole Foods site four blocks away is slated to open in 2008.

Access to the site and public transportation is readily available with a NYC bus stop located directly outside the new to be built building and within walking distance of the IRT subway lines four blocks away and equidistant from the IRT subway lines.

It is expected that the 3rd Avenue corridor will, in the next several years, become a pedestrian walk way filled with retailers catering to the needs of the community. The site is under consideration to be rezoned to create greater density; at present the parcel can accommodate a 65,000 s/f mixed use project including a lower level.

GF55 architectural firm is the architect for the project and Country Bank provided acquisition financing.

Also in the month of November, Troutbrook welcomed its sub-tenant, One World Capital, to 477 Madison Avenue, Troutbrooks' Manhattan headquarters.

In the past four years, Troutbrook Company has completed approximately 100,000 s/f of development projects in this immediate area of 185 Third Avenue.