Two Properties, 70 Feet of Frontage on Fifth Avenue

157 & 159 Fifth Avenue

Park Slope

$26,000,000

17 Total Units
23,200 Gross SF
7,000 Lot SF
Corner of Lincoln Place
Subways
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Mixed-Use 157 & 159 Fifth Avenue, Park Slope
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Adam Hess
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Details

Block 947
Residential Units 15
Commercial Units 2
Assessment (16/17) $683,174
Taxes (16/17) $88,013

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 157 & 159 Fifth Avenue in Park Slope, Brooklyn.

The portfolio offers 70′ of retail frontage along Fifth Avenue, anchored by Chase Bank and D’Mai Urban Spa. This corner location on Fifth Avenue and St. John’s Place is one of the best retail locations in Park Slope.

The package consists of 2 retail spaces, 14 renovated free market apartments, one stabilized unit and a two car garage that can potentially be utilized as additional retail space. The assets are 88% occupied with long-term leases for the retail tenants and produce an annual NOI of $1,104,810. The asking price for the portfolio is $26,000,000.

 

Attractions

The properties are within walking distance of Atlantic Terminal, with access to numerous trains and the Barclays Center. The subway can be conveniently accessed at the Union Street R station and Bergen Street 2 & 3 station.

Barclays Center
Brooklyn Academy of Music (BAM)
City Point
Grand Army Plaza
Prospect Park

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