Marcus & Millichap has successfully sold 5617 5th Avenue, a four-story mixed use building in the Sunset Park neighborhood of Brooklyn, New York. (Block: 840, Lot:3). The subject property, located on 5th Avenue between 56th and 57th Streets, is comprised of six apartments and two retail components. The building measures 25 feet wide by 61 feet deep, with cut-outs in the rear. Total approximate building size equals 5,836 square feet.

This building is strongly positioned on one of the most active retail corridors in Brooklyn, with a large presence of national tenants. The property is poised to benefit from an influx of renters and jobs over the next several years largely due to Sunset Park's waterfront redevelopment.

The current average residential rent per square foot is approximately $20, in a market where rents have climbed past $35 per foot in certain subsections of the neighborhood. The current average rent per square foot for the two retail units is a mere $36, where certain stretches of Sunset Park 5th Avenue retail is being leased between $60-$80 per square foot.

• Sunset Park Mixed-Use Building - Six Apartments and Two Retail Units
• Major Brooklyn Retail Corridor with Significant National Tenant Presence
• Near "R" and "N" Train at 59th Street
• Retail Rents Achieving $60-$80 Per Square Foot on 5th Avenue
• Excellent Condition - New Gas Boiler
• Large Margin Between Collected Rents and Achievable Rents