Closed 04/14/2013

Fourth Avenue Corner Building With Over 37,000 BSF

265 4th avenue

Park Slope

Closed 04/14/2013 at
$4,100,000

Residential Units 14
Gross SF 13,007
Stories 3
Cross Streets 4th Ave & Garfield Pl - Corner
Subways
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Multifamily 265 4th avenue, Park Slope
Fourth Avenue Corner Building With Over 37,000 BSF
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Details

Block_Lot 964_8
Lot Size 49.25 ft x 100 ft
Building Class C7
Zoning C2-4/R8A
Lot SF 6,188
FAR 6.02
Total Buildable SF 37,249
Available Air Rights 24,242

Overview

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. The 13,007 SF building is zoned R8A/C2-4/EC with a 6.02 FAR allowing for an additional 24,242 in available air rights or a total buildable of 37,249.

The adjacent property is also available with this offering providing a unique opportunity to acquire a rarely available 4th Avenue assemblage and build an additional 26,205 SF for a total buildable of 63,454.

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 Center 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.

Attractions

Park Slope is a neighborhood in the western section of Brooklyn, New York City’s most populous borough. Park Slope is characterized by its iconic brownstones, human scale, and popular retail corridors on Seventh and Fifth Avenues. It boasts Michelin-starred restaurants, a lively bar and nightlife scene and boutique stores. 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.

Prospect Park
Barclays Center
Brooklyn Public Library
Brooklyn Botanical Garden
Brooklyn Museum
Prospect Park Zoo

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