*FIRST TIME ON MARKET 20+ YEARS*
Prime Park Slope - Brooklyn, New York (NYC) investment/owner-user/developer opportunity at 526 5th Avenue.
At least two viable options include:
1- Extend lot line out to capture additional retail square footage
2- Extend to lot line and take advantage of Floor to Area Ration (FAR) buildable to 5,700 square feet.
Opportunity to extend the retail property to the lot line. The current gross building area measures 1,430 square feet (SF). Extending to the lot line will increase useable space by 473 SF for a total useable space measuring 1,903 square feet.
For further development, property is buildable to 5,700 square feet, total of 4 stories. Current rent comparable are executed at $75 per foot which could yield a potential $142,000 in gross income for retail only. Adding up to 6-residential units on upper floor levels has potential to yield close to an addition $20,000 income each month.