Multifamily Property in Sunset Park
5002 4th Avenue
I would like to be contacted:
TerraCRG, as exclusive advisor, represents ownership in the sale of 5002 4th Avenue, a 3-story mixed-use building, located on the corner of 50th St and 4th Ave in Brooklyn’s Sunset Park.
This three-story building (plus basement) consists of 1,630 square feet with leasable retail space and includes four apartments, approximately (2x) 500 SF and (2x) 665 SF. It also has leasable storage space or build-out in the basement. A pharmacy occupies one retail space (Nov 2022 lease-$4,300/mo) and a Herbal store in the other space (month-to-month-$1,350). The property is zoned R7A and has no rent regulation.
Located in the heart of the 4th Ave retail corridor of Sunset Park, with new developments occurring frequently and a new public library being completed one block up, the area is on the verge of rapid growth.
Convenient to all transportation, the property is three blocks from the 53rd Street R & N train, with quick service to Manhattan.