Dilly-Dallying at 137 5th Avenue
So little has happened at 137 Fifth Avenue in Park Slope in recent years that the recent actions listed for the property with DOB are from 1909! The city came into possession of the lot in 1997 through some kind of tax lien situation; but an LLC bought it for $500,000 in 2004. Since then?…
So little has happened at 137 Fifth Avenue in Park Slope in recent years that the recent actions listed for the property with DOB are from 1909! The city came into possession of the lot in 1997 through some kind of tax lien situation; but an LLC bought it for $500,000 in 2004. Since then? Nada. Not a single filing on the property. Anyone know why the owners are just sitting on it? GMAP P*Shark DOB
They were drilling on the site last week:
http://velvet-sea.blogspot.com/2007/05/getting-drilled-on-5th-avenue.html
That’s sliver lot even a tenement back in 1910 would have difficulty navigating. It’s a 20 X 80 ft lot. I’m pretty sure the developer doesnt have to abide by the yard reqs though. So they probably build on the entire thing.
The owner of this lot was going to develop it, but was given an offer they couldn’t refuse. Look to see what the new owner will do in the near future. As for now, enjoy the stoop sales!
Probably trying to flip it. That happened across the street from us, a lot was bought in 2004 for 1 million, flipped 2 years later for 3 million. Still no actions on it with the new owners either.
It’s a well thin bit of land, for starters. Also very popular with hipsters lacking stoops to hold their stoop sales. Although that’s pretty much apropos of nothing. Does seem to get cleared every now and then.
the math probably doesn’t work out, you can’t sell up-market condos, so you’re left with a retail floor earning so-so rent under some featureless and difficult to move apartments.