The Reel

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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 708 5th Avenue aka 232-236 22nd Street, located on the corner of 5th Avenue and 22nd Street on the border of Brooklyn’s Park Slope and Sunset Park neighborhoods, was sold in an all cash transaction valued at $1,600,000 which equates to a cap rate of approximately 6.7%.

This four-story corner building is approximately 12,000 square feet and sits on a 50’ x 100’ lot. There are 12 railroad-style two-bedroom apartments and two commercial units. The property is located four blocks from the R train at 4th Avenue and 25th Street.

Click here for press release.

Neighborhoods: Sunset Park, Park Slope