#RLS20021305, Quinn Hagstrand, Listing office: Corcoran Group
#RLS11003754·
Listing office: Compass·
Listing agent: Louis M Esposito·
Listing agent phone: (718) 781-8310·
Listing office phone: (212) 913-9058
$5,375,000 List price
397 5th Ave New York City, NY 11215
8 beds
4 full, 2 partial
3,828 sqft
$1,404 / sqft
Multi-Family
Property details
About 397 5th Ave
**Prime Park Slope Investment Opportunity: 397 5th Avenue, Brooklyn** Discover a meticulously maintained, three-story mixed-use building in the bustling retail corridor of 5th Avenue in Park Slope, Brooklyn. This property represents a rare investment opportunity in one of Brooklyn's most desirable neighborhoods. Situated on a high foot traffic section of 5th Avenue, the building enjoys maximum visibility and accessibility. It is currently fully occupied, featuring a diverse tenant mix. The residential component includes four well-appointed 2-bedroom rental units, each with desirable front and back layouts. The retail space is leased to the popular Flatiron Steakhouse - Park Slope, ensuring a steady stream of rental income. Based on actual and projected rent rolls, this property easily yields a 5.2% cap rate, reflecting a strong return on investment, already demonstrating a robust and reliable rent roll. This makes it an attractive option for investors seeking both stability and growth. In excellent, turnkey condition, the building requires no immediate renovations or repairs, allowing for a seamless transition and continued revenue generation. This exceptional property combines a prime location, stable income, and well-maintained infrastructure, making it a valuable addition to any real estate portfolio. Don’t miss this opportunity to invest in a thriving area with a solid track record of demand and profitability.
Highlights
Home typeMulti Family
HeatingCentral, Forced Air, Natural Gas, Wall Furnace
StatusActive
CoolingCentral Air, Wall Unit(s)
Size3,828 sqft
Year built1899
MLS #RLS11003754
Summary
- Partial Bathrooms: 2
- Full Bathrooms: 4
- Interior: Wet Bar, Built-in Features, Chandelier, High Ceilings, Recessed Lighting, Sound System, Bar
- Total Bedroom Count: 8
- Attached Garage: No
- Exterior: Private Entrance, Private Outdoor Space Under 60 Sqft
- Heating: Central, Forced Air, Natural Gas, Wall Furnace
- Cooling: Central Air, Wall Unit(s)
- List Price: $5,375,000
- Price/SqFt: $1,404
- HOA Amount: $0 Monthly
- Year Built: 1899
- Living Area: 3,828 SqFt
- MLS Number: RLS11003754
- MLS Name: RLS
- Office Name: Compass
- Office Phone: (212) 913-9058
- Listing Agent: Louis M Esposito
- Agent Phone: (718) 781-8310
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Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.
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Last updated on: 7/5/2025, 6:45:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
We're sorry, we currently don't have tax history data for this listing.
Nearby schools
8
The Maurice Sendak Community School
Public District PK-4
0.1 mi
•211 8th St
9
P.S. 39 Henry Bristow School
Public District KG-5
0.2 mi
•417 6th Ave
3
P.S. 124 Silas B. Dutcher School
Public District KG-5
0.4 mi
•515 4th Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $81,542. Residents of New York City, NY typically earn between $35k-100k each year. Residents typically live in single, no kids family. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
27%
<35k
42%
35k-100k
12%
100k-200k
19%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
60%
Single, No Kids
6%
Single, with Kids
16%
Married, No Kids
18%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
12%
<11 yrs old
5%
12-17 yrs old
35%
18-34 yrs old
40%
35-64 yrs old
8%
65+ yrs old
What do the neighbors do for fun?
Art Museums
Music Concerts
Hiking/backpacking
Where do the neighbors shop?
Bloomingdales
H&M
Crate & Barrel
Where do the neighbors go to eat?
Starbucks
Chipotle
Boston Market
What do the neighbors drive?
Audi
Volkswagen
Mercedes
What do the neighbors listen to?
News
Rhythmic Contemporary Hits- Alternative
All data provided by Home Junction and Claritas
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Frequently asked questions
About 397 5th Ave
The listing price of 397 5th Ave property is $5,375,000.
The property 397 5th Ave is a multi located in New York City, New York, 11215.
Active Listing: 397 5th Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 397 5th Ave are: The Maurice Sendak Community School (GreatSchools Rating 8/10), P.S. 39 Henry Bristow School (GreatSchools Rating 9/10), P.S. 124 Silas B. Dutcher School (GreatSchools Rating 3/10), Middle School 51 William Alexander (GreatSchools Rating 7/10), P.S. 282 Park Slope School (GreatSchools Rating 5/10), Hellenic Classical Charter School (GreatSchools Rating 10/10), Cyberarts Studio Academy (GreatSchools Rating 2/10), Millennium Brooklyn High School (GreatSchools Rating 10/10), John Jay School for Law (GreatSchools Rating 3/10).
The property 397 5th Ave is 3,828 SqFt (source: MLS/tax record).
The year of construction for 397 5th Ave is 1899.
This home is located at 397 5th Ave in New York City, NY and zip code 11215 in the South Brooklyn neighborhood. This 3,828 square foot home was built in 1899. Features: 8 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since September 9, 2024 and is currently priced at $5,375,000.
New York City, NY housing market in June 2025 saw over 232 listings sold above listed price, more than 1007 sold at listed price and over 715 sold below. The number of listings in New York City, NY decreased by 4.3% between May and June 2025. Listings spent 99 days on the market in June 2025, and had a median list price of $881,252 during the same period.
From Rocket Homes Real Estate and based on county public records data.