10th Street Development Site (Vested 421A | ~185K ZFA)

Vested 421A Site

The 10th Street site presents a prime investment opportunity in a coveted market with its vested 421a status. The site offers an opportunity for a 70% Fair Market and 30% Affordable unit mix, allowing investors to capitalize on the growing market rents in Park Slope. With limited remaining vested sites of this scale, this unique opportunity holds significant potential for prospective investors. 

Same block as 4th Ave / 9th Street Station 

The 10th Street Development Site offers immediate transit access with the 4th St / 9th St Station servicing the F, G & R lines only one block away providing access to Midtown Manhattan in 30 minutes. Additionally, the Atlantic Ave/Barclays Center Station (2, 3, 4, 5, D, N, Q & LIRR) can be accessed in two stops providing convenient access to all of Manhattan.

Prime Location at the Convergence of Park Slope and Gowanus

The Site's ideal location at the crossroads of some of Brooklyn’s most well-established submarkets gives residents access to Prospect Park (less than a mile away) as well as the abundance of dining and retail options along 5th Avenue. The new Gowanus Canal Esplanade as well as one of the highest performing Whole Foods in the nation (less than a 10-min. walk away) highlight the neighborhood.

New York City Remains one of the Strongest Markets Nationally

The New York City multifamily market continues to outperform the broader U.S. and remains one of the most favorable markets in the nation. Last quarter, NYC effective rent growth was 2x that of the national average. This rent growth is partially driven by the market’s lack of supply, with the national average new supply as a percentage of existing inventory nearly 3.5x that of New York City. As a result, NYC vacancy remains low at 3.4%, compared to 5.6% in the wider U.S. market (Source: Axiometrics).