New Listing - 05/14/2026

$2,995,000

Est. Mortgage $14,753/mo *

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Listing courtesy of Corcoran Group (212) 355-3550

559 4TH Avenue, Brooklyn, (Park Slope), NY, 11215

559 4TH Avenue, Brooklyn, (Park Slope), NY, 11215
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30 rooms

13 beds

7 Full baths

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.

Status:

Active

Town:

Brooklyn

Type:

Condo/Coop

Laundry Remarks:

Building Other,Washer Hookup,In Unit

Units:

7

Garage:

2-car Assigned, Garage

Cooling:

Dual

Basement:

Other

Levels:

1

Lot Size:

90.00x20.00

Est. Taxes:

$19,176

View Description:

Other

Pet Policy:

Building Yes, No

Appliances:

Washer Dryer Allowed

MLS #:

RLS20091449

Community Info

School Info

Walk Score

Mass Transit

Yelp

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