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
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, 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
104
Last Updated
Property Type
MultiFamily
Beds
13
Full Baths
7
Square Ft.
1,800
Year Built
1931
MLS Number
RLS20091449
Additional Details
Building
Built in 1931, Living area: 1800.0, Living area units: SquareFeet, 3 stories, Entry level: 1
Information herein is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by Coldwell Banker Warburg. If you have any questions regarding the accuracy of this data, please contact us at [email protected]. Data updated:
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