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645 4th Ave - 645 4th Ave. 0.06 Acres of Residential Land in Brooklyn, NY 11232
INVESTMENT HIGHLIGHTS
- Thriving 4th Ave Corridor in South Slope/Greenwood Heights
- Condos averaging $1,300/SF and Rentals averaging $70/SF
- Close to F, G, D, N, R, and W Subway lines
- 15,977 BSF as of right / 19,109 BSF with UAP
- Development or End-User Potential
EXECUTIVE SUMMARY
Compass has been retained on an exclusive basis to facilitate the sale of 645 4th Avenue, a rare and flexible commercial building with significant development potential located along Brooklyn’s thriving 4th Avenue corridor. The existing structure spans approximately 2,560 square feet with ~13’ ceilings and is situated on a 2,654 square foot lot zoned R8A / C2-4 / EC-1 which is ideal for a wide range of future uses.
As-of-right zoning allows for a total of 15,977 buildable square feet, with the potential to increase to 19,109 BSF via the UAP bonus. With a 2.0 commercial FAR and up to 5,308 SF of potential retail, the site offers excellent metrics for a 485X mixed-use development along an active corridor.
The surrounding area has seen a wave of new development with condominiums selling for ~$1,300/SF and residential rentals averaging north of $70/SF providing a strong market foundation for either strategy. Alternatively, the existing structure offers value for an owner-user seeking a centrally located retail space, medical building (up to 17k+ BSF for community facility), or showroom with its curb cut and street visibility.
Feel free to reach out to nathan.horne@compass.com / 706-255-5657 with questions, to request additional documentaion, or to make an offer. Co-brokers welcome.
As-of-right zoning allows for a total of 15,977 buildable square feet, with the potential to increase to 19,109 BSF via the UAP bonus. With a 2.0 commercial FAR and up to 5,308 SF of potential retail, the site offers excellent metrics for a 485X mixed-use development along an active corridor.
The surrounding area has seen a wave of new development with condominiums selling for ~$1,300/SF and residential rentals averaging north of $70/SF providing a strong market foundation for either strategy. Alternatively, the existing structure offers value for an owner-user seeking a centrally located retail space, medical building (up to 17k+ BSF for community facility), or showroom with its curb cut and street visibility.
Feel free to reach out to nathan.horne@compass.com / 706-255-5657 with questions, to request additional documentaion, or to make an offer. Co-brokers welcome.
PROPERTY FACTS Under Contract
| Sale Type | Investment or Owner User | Property Type | Land |
| Sale Condition | Redevelopment Project | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.06 AC |
| Zoning | R8A / C2-4 / EC-1 - Residential FAR: 6.02 (15,977 BSF) as of right, 7.2 (19,109 BSF) with UAP Commercial FAR: 2.0 (5,308 BSF) Community Facility FAR: 6.5 (17,251 BSF) | ||
| Sale Type | Investment or Owner User |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.06 AC |
| Zoning | R8A / C2-4 / EC-1 - Residential FAR: 6.02 (15,977 BSF) as of right, 7.2 (19,109 BSF) with UAP Commercial FAR: 2.0 (5,308 BSF) Community Facility FAR: 6.5 (17,251 BSF) |
1 LOT AVAILABLE
Lot 5
| Lot Size | 0.06 AC |
| Lot Size | 0.06 AC |
26.75' X 100'
DESCRIPTION
Single-story 2,560 SF structure with tall-ceilings; prior retail/industrial use.
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 00637-0005 | Improvements Assessment | $156,150 |
| Land Assessment | $38,250 | Total Assessment | $194,400 |
PROPERTY TAXES
Parcel Number
00637-0005
Land Assessment
$38,250
Improvements Assessment
$156,150
Total Assessment
$194,400
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645 4th Ave - 645 4th Ave.
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