Park Slope Development Portfolio

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of a development site at 75 Fourth Avenue in Park Slope, Brooklyn. The asset is one of the last opportunities to acquire a development site along Fourth Avenue before the proposed Gowanus Rezoning. Currently zoned C2-4/R8A, the four lots between 69 and 75 Fourth Avenue equate to a combined 6,188 lot SF with up to 40,222 ZFA as of right. The proposed Gowanus Rezoning framework calls for a change to C44D modified district, allowing for ~52,599 ZFA and an 8.5 FAR with MIH. The property will be delivered vacant and is ideal for a condo development or high-end mixed-use project with a strong retail play on the ground floor featuring 79 ft of frontage on Fourth Avenue. Recent condo sellouts in Park Slope are averaging $1,450/ SF. Just a few blocks away, the six-billion-dollar Pacific Park project will consist of 17 high-rise buildings for residential, mixed-use and office space spread over 22-acres when completed. Additional nearby developments include 461 Dean, 300 Ashland, The Addison, The Baltic, The Brooklyn Grove, and more.