559 4th Avenue, Brooklyn, NY 11215
559 4th Avenue, Brooklyn, NY 11215
559 4th Avenue, Brooklyn, NY 11215
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Randy Reis

Randy Reis

+1(917) 435-4870
Listing Courtesy of Corcoran Group
$2,995,000
Est. payment /mo
13 Beds
7 Baths
1,800 SqFt
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UPDATED:

Key Details

Property Type Multi Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 1,800 sqft

Price per Sqft $1,663

Subdivision Park Slope

MLS Listing ID RLS20091449

Bedrooms 13

Full Baths 7

HOA Y/N No

Annual Tax Amount $19,176

Property Sub-Type Multi Family

Property Description

559 4th Avenue a/k/a 133-135 16th Street presents a rare mixed-use investment and development opportunity in the heart of the rapidly transforming Park Slope/Gowanus corridor. Situated on a prominent northeast corner lot, this income-producing property combines strong existing infrastructure with significant future upside through additional buildable square footage. The property sits on a 20 ft x 90 ft lot with a current built area of approximately 5,346 square feet and building dimensions of 20 ft x 90 ft. Zoned R8A / C2-4 within the Enhanced Commercial District - 1 (EC-1), the site offers substantial development potential

Maximum buildable area of approximately 10,836 square feet, leaving additional buildable area available.
Zoning & Development Highlights:
Residential FAR: 6.02 Facility FAR: 6.5
Current FAR: 2.97
Max Buildable Area: 10,836 SF
Current Built Area: 5,765 SF

Property Features:
Four residential rental apartments
One basement studio unit
Finished basement with kitchenette
Two vacant commercial storefronts
Two-car garage with electric garage door
Most residential units to be delivered vacant
Regular-shaped corner lot with northeast exposure
Ground elevation: 54 ft

This versatile mixed-use asset offers exceptional flexibility for investors, developers, end-users, or 1031 exchange buyers seeking immediate income with long-term redevelopment potential. The combination of vacant commercial space, residential units, garage parking, and unused FAR creates multiple value-add strategies ranging from luxury rentals and condominium conversion to mixed-use redevelopment or owner-occupancy.

Perfectly positioned along bustling 4th Avenue with close proximity to transportation, retail corridors, dining, and the ongoing growth surrounding Gowanus and South Brooklyn, this is an opportunity to acquire a strategically located property with both stable fundamentals and meaningful future upside.

Location

State NY

County Kings

Interior

Interior Features Smoke Free

Cooling Other

Furnishings Unfurnished

Fireplace No

Laundry Washer Hookup, In Unit, See Remarks

Exterior

Exterior Feature Private Outdoor Space Over 60 Sqft

Parking Features Assigned, Garage

Garage Spaces 2.0

Garage Description 2.0

View Y/N Yes

View Other

Private Pool No

Building

Dwelling Type Mixed Use

Story 1

New Construction No

Others

Tax ID 01047-0001

Ownership None

Monthly Total Fees $1, 598

Special Listing Condition Standard

Pets Allowed Building No, No

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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