7-Unit Mixed-Use Building
55 5th Avenue
Closed 06/19/2018 at
$4,150,000 | $657 per SF
TerraCRG has been retained to exclusively sell 55 5th Avenue, a mixed-use building in the heart of Park Slope, just two blocks from the Barclays Center and Atlantic Terminal Mall.
55 5th Avenue is a 6,316 SF building comprised of one ground-level retail unit and six residential units. The unit mix includes five rent stabilized units and one free market apartment. There is significant upside in the rents as the five RS units are paying on average just $18/SF in a market where renovated units rent for over $60/SF. The retail unit is 1,390 SF and will be delivered vacant.
The property is located two blocks from Flatbush Avenue at the intersection of 4th, 5th and Atlantic Avenue, providing tenants easy access to retail amenities including Starbuck’s, Patsy’s Pizzeria, Barclays Center, Atlantic Terminal Mall, Shake Shack, Modell’s, and PC Richards.