575 4Th Ave Brooklyn, NY 11215

Property Details for 575 4Th Ave

Year built

2018

Lot size

0.40 lot acres

Property size

1,266 SF

Zone code

R6B

Property type

Retail space

APN

01052-1271

APU

10521271

Description

This exceptional investment opportunity presents two commercial condominium units totaling 4,146 square feet, situated on the ground floor of a new 70-unit luxury residential building in the highly desirable Park Slope neighborhood of Brooklyn, New York. The property boasts over 105 feet of wraparound frontage at the corner of 4th and Prospect Avenues, ensuring high visibility and accessibility. Unit A, a vacant 2,370 square foot space, offers immediate occupancy and customization potential. Unit B, spanning 1,776 square feet, is currently leased to Studio Pilates under a lease extending through September 2029, with a single five-year extension option. This provides immediate cash flow and long-term stability. The building's prime location offers unparalleled convenience, with direct access to the Prospect Expressway, providing easy access to Manhattan via the Hugh L. Carey Tunnel or the Brooklyn Bridge. Park Slope's vibrant atmosphere, proximity to Prospect Park, excellent schools, diverse dining options, and abundant shopping opportunities contribute to its status as one of New York City's most sought-after residential areas, creating a strong demand for retail space. The asking price for this exceptional retail condominium is $3,250,000, representing a price per square foot of $783.89. This is a rare opportunity to acquire a well-positioned retail property in a thriving Brooklyn neighborhood. The property is offered as a single unit sale, suitable for both investors and owner-users.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9921

Latitude

40.6655

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments