Sunset Park Mixed-Use Building on the Market for $4.5M
Gus Delaporte May 20, 2014, 7:30 a.m.
Eastern Consolidated is marketing a mixed-use building at 5310-5312 Fourth Avenue in the Sunset Park section of Brooklyn, Commercial Observer has learned. The asking price for the building is $4.5 million.
Located between 53rd and 54th Streets, the 9,600-square-foot building boasts two ground-floor retail stores and 12 rent stabilized, one-bedroom apartments. Four of the 12 apartments will be delivered vacant.
“5310-5312 Fourth Avenue is a valuable asset for any portfolio because of its central location and multiple revenue streams,” said Andrew Sasson, an associate director at Eastern Consolidated, in a prepared statement. “This bustling area of Brooklyn sees a steady flow of foot traffic, which prospective buyers will capitalize on when marketing the retail spaces in the future.”
The property was build in 1927 and includes nearly 5,000 square feet of unused air rights. The building also generates income from antennae on the roof.
Mr. Sasson, who was not immediately available for further comment, represents the seller, 5310 4th Avenue LLC.