Sterling Project Development Acquires Retail Condo In Park Slope, New York For $10M

A retail condo located at 227 4th Avenue in Park Slope, New York, has been sold for $10,000,000. The property is an above-grade space measuring 11,000 square feet, resulting in a price per square foot of $909. The cap rate for this transaction is 5.2%.

Summary of transaction details

• Property Type: Retail Condo
• Transaction Amount: $10,000,000
• Address: 227 4th Avenue, New York
• Market: Park Slope
• Size: 11,000 square feet (Above Grade)
• Price per Square Foot: $909
• Cap Rate: 5.2%

The seller of this retail condo is Greystone Development, represented by Thomas P. Ryan. The buyer is Sterling Project Development. Additional individuals involved in this transaction include Ofer Cohen, Adam Hess, Eddie Setton, Jeff Wilpon, and Richard Browne.