Two Properties, 70 Feet of Frontage on Fifth Avenue
157 & 159 Fifth Avenue
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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.
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.