5401 4th Avenue
5401 4th Avenue, Brooklyn, NY 11220
- For Sale 2300000
- City Brooklyn
- Neighborhood Sunset Park
- Zip Code 11220
- Property Type Mixed Use
- Property Size 5,200 Sqft
- Date Updated 13 Dec, 2019
5401 4th Avenue is a corner, mixed use property available for sale. The building presents a value add opportunity for investors.
Smart Value Add Opportunity - Trailing 12 months cap rate of 4.88% all residential tenants paying rent at 15-30% discount to market.
Free-Market / No Leases
No need to worry about Rent Regulated apartments or the new regulations. All the apartments are Free Market. Tenants pay month-month so renovations can be started very soon.
Location, Location, Location - Property is 100 feet away, or a half a city block, from the 53rd Street Subway Station. Combined with the fact that this is a corner property, it makes a compelling case for a local or a national retailer to succeed here.
Redevelopment Opportunity - There are approximately 4,000 SF of Air Rights available as of-right. The L Shaped lot afford one the ability to buy up to 10,000 Air Rights from the neighbors. Without adding elevators, one could as-of-right build two duplexed units
Growing Investment on 4th Avenue
4th Avenue allows for a 33% premium on Floor-to-Area Ratio compared to 5th avenue. And Developers have begun to notice.
Most notably: Chase Bank on 51st, Blink Gym on 52nd Street, and NYC HPD on 51st street developing a 50 unit, 8 story building.
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FREQUENTLY ASKED QUESTIONS
What is the lease rate for 5401 4th Avenue?
Rental asking rate at 5401 4th Avenue is 2300000 per square foot.
What is the total square footage of 5401 4th Avenue?
5401 4th Avenue totals 5,200 square feet.
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