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This isn’t really a house, we guess, but there ain’t a whole lot of new properties on the market yet this new year, so we’re working with what we got. This three-story brick building at 667 5th Avenue in Park Slope Greenwood Heights consists of a 1,000-square-foot retail space topped by two market-rate, floor-through rentals. The property, which traded for $879,000 in 2006, will be delivered vacant. The asking price is $1,195,000. Anyone care to hazard guesses for what kind of rent the property could generate so we can do the math on the asking price?
667 5th Avenue [Century 21] GMAP P*Shark


What's Your Take? Leave a Comment

  1. Three Cents on the comments above…

    1. Bars:

    Sidecar on 15th and 5th has really good cocktails and food, and it’s built in an old pharmacy, and some of the cocktails are named after elixirs from the old pharmacy

    Quarter – on 20th and 5th has really, really good cocktails, and it’s very tiny.

    Eurotrip (it’s really called that…) has gigantic steins of beer and fried cheese

    2. Rent on the building:

    I think you could get 1500 or even more for a 1000 square foot apartment on 19th and 5th without even renovating it. That’s a lot of space. 1 bedrooms are around 12-1400 and they are usually around 700-800 square feet.

    3. The neighborhood feeling- there is a cinematic quality in the evenings here- the view down 5th ave with the sunset and the shadow profile of the Verrazano are amazing. The height allows views across the water and of the statue of liberty from many blocks. There’s a peacefulness that makes it feel very different from south slope on the proper side of the expressway…

  2. next time your at ozzies tell them that iced coffee is not a cup of ice with 2 drops of coffee. that is so annoying. i think ive said this before here but when you say lite ice or little ice they are like well, the ice melts. well no duh einstein but it turns into water making it water coffee. grrrrr (im talking about the one on 5th) never been to 7th one.

    *rob*

  3. PDT = “Please Don’t Tell.”

    It’s a “speakeasy” with its entrance hidden in the phone booth of a hotdog shop on … St. Marks? Something like that, in the East Village. You have to dial “0” on the phone in the booth, and then the wall opens up and a lady goes “we’re full, you have to wait 45 minutes in the hotdog restaurant” and your wife goes “no f-ing way” and you go to some other bar.

    I think Sidecar is the place I’m thinking of in S. Slope.

    And yeh, atmosphere goes a long way toward making me happy to pay a little for my drinks, rather than drinking them at home or in a crappy dive.

  4. What is PDT?

    Clover Club is ok…it has the look I like, but it doesn’t have the warmth and the staff there are not friendly, in my experience.

    I agree about Beer Table being a bit overpriced, but some things are worth paying a little more for.

    Also agree that Ozzie’s could use an updating, of sorts.

    Are you thinking Ellis in the South Slope? I haven’t been, but heard about it, if that’s the place I’m thinking about…

  5. mopar – All of that is true, but you’d still be in Bushwick 🙂

    11217 – we’ve been to Weather Up, yes. Also Clover Club and Flatiron Lounge. Tried to get into PDT twice but been rebuffed both times. And I hear that … someplace down on like 15th and 5th ave in south slope also has good cocktails? Need to check that out, if I can remember the name.

    I have friends who just went to Beer Table the other night and really liked it, for exactly the reasons you describe (tho they did think it was a bit overpriced). I agree – the key is really bonding with the community and making people want to become regulars.

    And yeh, I love the old pharmacy cabinets and stuff in Ozzie’s. I think the space could use some TLC, but it’s got great bones, so to speak. 🙂