5501 4th, Brooklyn, NY 11220

Property Description

Outstanding opportunity to acquire two adjoining properties in the heart of Sunset Park, Brooklyn, situated along the highly desirable 4th Avenue corridor. Offering approximately 5,216 SF of combined land, this unique package features a distinctive corner mixed-use building and an adjoining development property with an existing garage and former church space, providing tremendous flexibility for investors, builders, and developers. 404 55th Street: A distinctive three-story brick corner building situated on approximately 2,450 SF of land, featuring excellent street exposure, classic architectural character, and strong mixed-use investment potential. The property includes architectural plans dated May 2026 for a 2-story addition (vertical and horizontal enlargement) featuring 4 residential units. The proposed configuration also includes commercial space. 412 55th Street: An adjoining development property featuring approximately 2,766 SF of irregular land, with an existing front garage and former church space toward the rear. Preliminary architectural plans feature a proposed development of 18 residential condominium units, 1 retail space, and 1 community facility. The property's unique configuration also presents exciting opportunities to explore an all-residential condominium development with ground-floor private parking, or a mixed-use condominium development incorporating commercial space and private parking. Both properties are located within an R7A/C2-4 zoning district with a residential FAR of 4.0, offering significant potential for residential and mixed-use development. A preliminary combined development concept has also explored up to 27 residential condominium units, presenting an exciting opportunity for a larger residential or mixed-use project. Potential investment strategies include residential condominiums, multifamily rental apartments, mixed-use condo developments with parking, retail stores, professional offices, medical offices, community facilities, and other permitted uses. Excellent location near public transportation, shopping, restaurants, and neighborhood amenities. Package Deal Available! Both properties are available together or individually, providing flexibility for different investment and development strategies.