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Park Slope Landmark Trades for $10M
Greystone Development has sold the landmarked 227 4th Ave. in Park Slope for $10 million to an unnamed buyer. Ofer Cohen of TerraCRG brokered the deal on behalf of Greystone, while Brian Flanagan of Sterling Project Development managed the acquisition for the buyer.
The development arm of Greystone acquired 227 4th, which was first built in 1910 as Public Bath No. 7, in 2014, and completed a significant renovation to the property. It has been leased long-term to Blink Fitness since 2017.
“The sale of 227 4th exemplifies the continued strength of the commercial market in Brooklyn,” said Cohen. “The Park Slope area remains one of the most sought-after investment destinations in New York City.”
Greystone Development is currently building a ground-up neighboring property at 225 4th Ave. The 13-story residential property features 63 units, and is slated to begin leasing in summer 2018.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

