Park Slope Development Portfolio
75 Fourth Avenue
Park Slope
Closed 02/07/2020 at
$13,200,000 | $354 per SF
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718-768-6888
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Google MapsOverview
TerraCRG has been retained to exclusively represent ownership in the sale of a development site at 75 Fourth Avenue in Park Slope, Brooklyn. The asset is one of the last opportunities to acquire a development site along Fourth Avenue before the proposed Gowanus Rezoning.
Currently zoned C2-4/R8A, the four lots between 69 and 75 Fourth Avenue equate to a combined 6,188 lot SF with up to 40,222 ZFA as of right. The proposed Gowanus Rezoning framework calls for a change to C44D modified district, allowing for ~52,599 ZFA and an 8.5 FAR with MIH. The property will be delivered vacant and is ideal for a condo development or high-end mixed-use project with a strong retail play on the ground floor featuring 79 ft of frontage on Fourth Avenue.
Recent condo sellouts in Park Slope are averaging $1,450/ SF. Just a few blocks away, the six-billion-dollar Pacific Park project will consist of 17 high-rise buildings for residential, mixed-use and office space spread over 22-acres when completed. Additional nearby developments include 461 Dean, 300 Ashland, The Addison, The Baltic, The Brooklyn Grove, and more.
Attractions
Surrounded by a plethora of retail activity on Fifth Avenue and Atlantic Avenue, the area is anchored by the world-renowned Barclays Center, home of the Brooklyn Nets, and the largest mass transit hub in Brooklyn at Atlantic Terminal servicing the N, Q, R, B, D, 2, 3, 4 and 5 trains as well as the Long Island Rail Road.