Overview

TerraCRG has been retained to exclusively represent ownership in the sale of the ground lease of the corner development site located at 275 Fourth Avenue in the Park Slope neighborhood of Brooklyn.

The 100 ft x 100 ft corner site is zoned R8A/C2-4/EC with a 6.02 FAR allowing for a total buildable of approximately 60,200 SF and is located on the prime Park Slope Fourth Avenue corridor on the corner of Fourth Avenue and First Street.

The property is just down the block from one of Brooklyn’s most popular retail corridors 5th Avenue, which is lined with some of the boroughs best restaurants, boutique stores and cafes. Prospect Park is just a short distance and 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 three blocks away on Third Street and Third Avenue.

Residential Rents for new construction elevator buildings in Park Slope are fetching over $60/SF and the lack of condo inventory in Park Slope created a surge in condo pricing over the last few months with recent pricing above the $1,000/SF mark.

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,N,R,B,Q,2,3,4,5 Trains plus the LIRR, making the commute in and out of Manhattan only 15 minutes.