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… Read More 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. Read Less
Listing Courtesy of: Erica Nieves, Corcoran Group
Listing Snapshot
Days Online
0
Last Updated
Property Type
MixedUse
Beds
13
Full Baths
7
Square Ft.
1,800
Lot Size
0.04 Acres
MLS Number
RLS20091449
30 Days Snapshot Of 11215
$1.76M
-10%
(avg) sold price
20
0%
homes sold
Snapshot
Area Map
Additional Details
Basement
Basement YN: t
Building
Entry Level: 1, Features: GreenBuilding, Living Area Units: SquareFeet, Rooms Total: 30, Structure Type: MixedUse
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