311 6th Ave

Ariel Property Advisors has been retained on an exclusive basis to arrange the sale of 311 6th Avenue, an eight-unit walk-up building in Park Slope. The four-story building is located on the east side of 6th Avenue between 2nd and 3rd Street.

The building totals 8,225 square feet, 6,580 of which is above grade. The lot measures 2,299 gross square feet. The eight-unit building consists of all free market units. Currently, seven of the units are occupied and one is vacant. The unit mix is comprised of seven two-bedroom units and one three-bedroom unit. The first floor of the building features a two-bedroom duplex with 990 square feet below grade and access to a yard in the rear of the building. All tenants have access to a rooftop deck as well.

The subject property is located in the heart of Park Slope surrounded by numerous local shops, restaurants and bars that are along 5th Avenue and 7th Avenue. The surrounding area is also home to many national retail outlets such as Barnes and Nobles, Chipotle, Rite Aid and New York Sports Club. Prospect Park is a short walk from the four-story building as well as several educational facilities such as PS 321 William Penn. The area is well served by public transportation with the F and G line at the 7th Ave station, the N,R,W at Union St. Station and several bus lines that serve the immediate area.

311 6th Avenue presents prospective investors the opportunity to acquire a strong cash-flowing multifamily building in a highly desirable area. Additionally, this building also affords the prospective buyer the option to convert the existing building to condominium units.