New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Park Slope Development Site Changes Hands for North of $6M
Cushman & Wakefield arranged the sale of a 13,520-square-foot development site with approved plans for a 20,504-square-foot mixed-use property located at 207 Fifth Ave. in Brooklyn’s Park Slope neighborhood. The final sale price was $6,450,000.
Cushman & Wakefield’s Daniel O’Brien, Caroline Hodes, Loren Valla and Jack McGuffog represented the seller, Urban Standard Capital, and procured the buyer, Red Rock Investments.
“207 Fifth Ave. presented investors with the unique opportunity to acquire a development site with approved plans on a prominent retail corner in the coveted Park Slope neighborhood,” said O’Brien. “The property’s ideal location provides easy access to the surrounding neighborhood amenities including Prospect Park and the Union Street R train station.”
The property has approved plans for a 20,504-square-foot mixed-use condominium development consisting of seven residential units and a ground floor retail space. It features 129 feet of frontage on Fifth Avenue and Union Street.
- ◦Sale/Acquisition
- ◦Development
