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30 photos

For Sale
Brooklyn
Park Slope
559 4th Avenue

559 4th Avenue

Park Slope, Brooklyn, NY 11215

$2,995,000

30 Rooms
13 Bedrooms
7 Bathrooms

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559 4th Avenue
Park Slope, Brooklyn, NY 11215

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Brooklyn / NY

Mixed Use HIGHLIGHTS

Property Type

Mixed Use
Views

Other
Pets Allowed

Yes
RE Tax

$19,176

Listing courtesy of Erica Nieves of Corcoran Group.

559 4th Avenue a/k/a 133-135 16th Street presents a rare mixed-use investment and development opportunity in the heart of the rapidly transforming Park Slope/Gowanus corridor. Situated on a prominent northeast corner lot, this income-producing property combines strong existing infrastructure with significant future upside through additional buildable square footage.
The property sits on a 20 ft x 90 ft lot with a current built area of approximately 5,346 square feet and building dimensions of 20 ft x 90 ft. Zoned R8A / C2-4 within the Enhanced Commercial District - 1 (EC-1), the site offers substantial development potential with a maximum buildable area of approximately 10,836 square feet, leaving additional buildable area available.
Zoning & Development Highlights:

Residential FAR: 6.02
Facility FAR: 6.5
Current FAR: 2.97
Max Buildable Area: 10,836 SF
Current Built Area: 5,765 SF

Property Features:

Four residential rental apartments
One basement studio unit
Finished basement with kitchenette
Two vacant commercial storefronts
Two-car garage with electric garage door
Most residential units to be delivered vacant
Regular-shaped corner lot with northeast exposure
Ground elevation: 54 ft

This versatile mixed-use asset offers exceptional flexibility for investors, developers, end-users, or 1031 exchange buyers seeking immediate income with long-term redevelopment potential. The combination of vacant commercial space, mostly vacant residential units, garage parking, and unused FAR creates multiple value-add strategies ranging from luxury rentals and condominium conversion to mixed-use redevelopment or owner-occupancy.
Perfectly positioned along bustling 4th Avenue with close proximity to transportation, retail corridors, dining, and the ongoing growth surrounding Gowanus and South Brooklyn, this is an opportunity to acquire a strategically located property with both stable fundamentals and meaningful future upside.

559 4th Avenue

Facts & Features

Bathrooms Total

7
Bedrooms Total

13
City Region

Brooklyn

MLS #

Rls20091449
Neighborhood

Park Slope
Property Type

Mixed Use

Building Features

Green Building
Building Smoke Free

Yes
Laundry Features

Building Other, Washer Hookup, In Unit

Building Area Total

1800
Entry Level

1
Structure Type

Mixed Use
Total Number of Units

7
Total Stories

1

Pets Allowed

Yes
Neighborhood

Park Slope

Garage

Yes
Garage Spaces

2
Parking Features

Assigned, Garage
View

Other

Annual Taxes

$19,176

Appliances

Washer Dryer Allowed
Basement

Other
Cooling

Yes - Dual

Has Basement

Yes
Interior Features

Smoke Free
Total Rooms

30

Home Price

in US Dollars

Down Payment

Interest Rate

Mortgage Term

Total/Month

Principal & Interest
Property Taxes (monthly) $1,598

*The values provided are approximate. For more precise information, please contact a BHS agent who can offer further assistance.

559 4th Avenue

Location

Nearby Transit

D N Q R W

at Prospect Av
0.07 miles
F G

at 4 Av-9 St
0.31 miles

Data courtesy of LocalLogic.co

Ps 124 Silas B Dutcher
Grades: PK, KG, 1, 2, 3, 4, 5
Ps 295
Grades: PK, KG, 1, 2, 3, 4, 5
New Voices School Of Academic And Creative Arts
Grades: 6, 7, 8
Maurice Sendak Community School
Grades: KG, 1, 2, 3, 4, 5
Ps 53
Grades: KG, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, UG

Avalon Academ Dc- Park Slope
Grades: PK, KG
Avalon Childcare Fifth Avenue
Grades: KG, 1
Avalon Academy
Grades: PK, KG
AL-Noor School
Grades: PK, KG, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
Al-Noor School
Grades: PK, TK, KG, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12

Neighborhood

South Slope

South Slope is a residential section of Brooklyn located south of central Park Slope, known for its mix of historic architecture and newer residential development. The housing stock includes brownstones, row houses, prewar apartment...

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