Fourth Avenue Corner Building with over 37,000 BSF
265 4th Avenue
Closed 03/27/2016 at
Long Island Rail Road
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TerraCRG has been retained to exclusively represent ownership in the sale of the multifamily building located at 265 4th Avenue in the Park Slope neighborhood of Brooklyn.
Occupying a prime corner location at the intersection of Park Slope’s 4th Avenue corridor and Garfield Place, the property neighbors several new construction rental and condominium buildings. The immediate area also features new developments of scale including the Barclays Arena and the soon to come Whole Foods supermarket, which will be opening only 3 blocks away on 3rd Street and 3rd Avenue.
The 14 unit building is comprised of seven free market, one stabilized and four rent control units. The property currently produces a gross income of approximately $296,000.
The property is only three blocks from the R Union Street subway station which is only one stop from the Atlantic Terminal/Barclays Center with access to the D,M,N,R,B,Q,2,3,4,5 Trains plus the LIRR, making the commute in and out of Manhattan only 15 minutes.
Park Slope is a neighborhood that has come to epitomize the 21st century reinvigoration of Brooklyn. In 2011, New York Magazine ranked Park Slope as the No. 1 “Most Livable Neighborhood in New York” surpassing every other neighborhood in the city for retail amenities, restaurants and nightlife, schools, safety and green space. Park slope is bounded by Prospect Park to the west, Fourth Avenue to the east, Flatbush Avenue to the north and 16th Street to the south.