5401 4th Avenue - Availability Details
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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