Prime Corner Mixed Use Building across from Barclays Center
32-54 5th Avenue
Park Slope
Closed 05/24/2013 at
$5,000,000
LIRR
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Overview
32-34 Fifth Avenue a/k/a 432-438 Dean Street is now offered for sale. The three story mixed-use corner building is located at the intersection of Dean Street and Fifth Avenue. It is directly across from the new Barclays Center and the Atlantic Terminal Mall & Train Station. The property, currently configured as a cooperative corporation, can be delivered vacant making it ideal for mixed-use, retail or residential conversion.
The 5,760 SF corner building has over 110 ft of total frontage facing Barclays Center with 40 ft on Fifth Avenue and 73 ft on Dean Street. The property sits on a 40 ft x 73.33 ft lot and permits as of right commercial, residential or mixed-use development. The C1-4/R6A zoning allows for a total buildable square footage of approximately 8,799 SF including approximately 5,800 SF that can be allocated for commercial/retail use.
The Barclays Center will host over 250 events in its inaugural year and is expected to generate pedestrian foot traffic of 3,000,000 people per year. Retail rents in the immediate vicinity on Flatbush Avenue and Fifth Avenue are driven by the demand for retail space near the Barclays Center and are expected to exceed $200/SF. New construction luxury developments in the immediate area are achieving residential rents approaching $55/SF.
The property is 210 feet away from the Atlantic Terminal with access to the D,N,R,B,Q,2,3,4,5 Trains and the LIRR making the commute in and out of Manhattan only 10 minutes.
Attractions
Park Slope is a neighborhood in the western section of Brooklyn, New York City’s most populous borough. The neighborhood 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.