559 4th Ave
Listing Notes
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 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.
Price in context
Cheaper than 8% of the 24 homes listed nearby right now, which run $1,649,000 to $3,995,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 211 13th St | $1,649,000 | 3 bd · 3 ba |
| 100 16th St Unit Ph | $1,650,000 | 3 bd · 3 ba |
| 222 16th St Unit 3D | $1,655,000 | 2 bd · 2 ba |
| 225 18th St | $1,695,000 | 3 bd · 3 ba |
| 222 16th St Unit 2G | $1,695,000 | 2 bd · 2 ba |
| 179 19th St Unit 2 | $1,749,000 | 3 bd · 2 ba |
| 222 16th St Unit 2D | $1,750,000 | 2 bd · 2 ba |
| 62 15th St | $1,799,900 | 5 bd · 3 ba |
| 213 17th St | $1,800,000 | — |
| 165 17th St | $1,800,000 | Studio |
| 165 17th St | $1,800,000 | Studio |
| 222 16th St Unit 5H | $1,895,000 | 2 bd · 2 ba |
| 249 18th St Unit 2 | $1,975,000 | 3 bd · 2 ba |
| 151 14th St | $1,995,000 | 3 bd · 2 ba |
| 225 14th St Apt 401 | $1,995,000 | 3 bd · 2 ba |
| 186 16th St | $1,995,000 | — |
| 222 16th St Unit 3A | $1,995,000 | 3 bd · 2 ba |
| 222 16th St Unit 3F | $1,995,000 | 3 bd · 2 ba |
| 223 15th St | $2,200,000 | Studio |
| 232 12th St | $2,379,000 | 4 bd · 3 ba |
| 103 16th St | $2,689,000 | 8 bd · 5 ba |
| 271 14th St Unit 2711A | $2,695,000 | 3 bd · 3 ba |
| 277 18th St | $3,495,000 | 4 bd · 5 ba |
| 256 18th St | $3,995,000 | 4 bd · 4 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more