---
title: "397 5th Avenue, New York City, NY 11215"
description: "397 5th Avenue, New York City, NY 11215 — Multi Family Home in Park Slope, Brooklyn, NY. Listing Price $4,650,000. 8 bed, 6 bath, 3,828 sqft Illustrative Buyer Commission Share of $69,750 at closing, based on a 3% buyer-broker commission."
url: "https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11215/397-5th-avenue-ny-11215"
source: "Real Estate Rebate Team"
status: "Active"
---

# 397 5th Avenue, New York City, NY 11215

Multi Family Home in Park Slope, Brooklyn, NY

Courtesy of Compass

## At a Glance

- **Listing Price**: $4,650,000
- **Beds**: 8
- **Total Baths**: 6
- **Sqft**: 3,828
- **Monthly Taxes**: $598 / mo
- **Price per Sqft**: $1,215
- **Brokerage Fee**: Share Eligible

## The Private Brokerage Advantage

As an independent luxury buyer representative, Régis shares 50% of the buyer-side commission he actually receives on your purchase. Eligible buyers receive that Buyer Commission Share directly at closing to offset closing costs, down payments, or renovations. The figures below are illustrative, based on a **3% buyer-broker commission**; your share follows the commission offered on the transaction.

- **Contract Purchase Price**: $4,650,000
- **Illustrative Buyer Commission Share**: -$69,750*
- **Illustrative Net Cost**: $4,580,250

*Illustrative Buyer Savings of $69,750 — 50% of a 3% buyer-broker commission, shared at closing.*

[Request a private tour](https://realestaterebatesnewyork.com/contact) · [Estimate your Buyer Commission Share](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)

## Photos (9)

![397 5th Avenue, New York City, NY 11215 — photo 1 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/7d1ee755-ed3b-4219-997c-d8ce5480a489.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 2 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/6b1ddcd9-710f-4d4d-8e45-67caccaf061d.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 3 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/5698013c-b376-4c22-b966-b346d94aaa69.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 4 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/5ed97e94-fb73-498a-8374-129c1ea20c28.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 5 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/148e0be9-a2f7-479d-9c7f-1651658992b4.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 6 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/52fcf095-bb58-4f49-bb67-0c3163c40787.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 7 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/74cfb030-0c4f-4dae-98a6-e9b9604e5e8b.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 8 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/fe1db788-f231-4bcf-be4b-ee368ccb6ab5.jpg)
![397 5th Avenue, New York City, NY 11215 — photo 9 of 9](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/16738c61-4897-4b78-b691-1473b6ed5cd1.jpg)

## Property Overview

**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 apartments, each with desirable front and back layouts. The retail space is currently leased for the next 10 years,

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.

## Property Details

- **Property Type**: Multi Family
- **Beds**: 8
- **Total Baths**: 6
- **Rooms**: 16
- **Sqft**: 3,828 sqft
- **Stories**: 3
- **Year Built**: 1899
- **Price per Sqft**: $1,215
- **Monthly Taxes**: $598 / mo
- **Listed On**: Jul 24, 2026
- **Days on Market**: 44 Days

### Residence Features

- Central Air
- Wall Unit(s)
- Central
- Forced Air
- Natural Gas
- Wall Furnace
- See Remarks
- Private Entrance
- Private Outdoor Space Under 60 Sqft
- Wet Bar
- Built-in Features
- Chandelier
- High Ceilings
- Recessed Lighting
- Sound System
- Bar
- Hardwood
- Full

## Sales Evidence

### Recent closed sales

397 5th Avenue has 4 recorded sales since September 2021, the most recent for $1,200,000 in January 2024. Prices are the figures recorded with the City, not asking prices.

| Unit | Beds | Sq Ft | Sold Price | $/ft² | Sold | Source |
| --- | --- | --- | --- | --- | --- | --- |
| 2R (Apartment) | 2 | 994 | $1,200,000 | $1,207/ft² | January 8, 2024 | City record · MLS |
| 1 (Apartment) | 2 | — | $1,335,000 | — | October 20, 2023 | City record · MLS |
| 1-R (Duplex) | 3 | 2,000 | $1,795,000 | $898/ft² | September 30, 2022 | City record · MLS |
| Entire property (Single Family Residence) | 7 | 3,650 | $4,380,000 | $1,200/ft² | October 7, 2021 | MLS |

Every row is a recorded transaction, including ancillary spaces such as storage and staff rooms where they were sold separately. Those are excluded from the benchmark below.

### How this price compares

The median closed price for comparable house sales in Park Slope is $3,400,000, based on 56 sales between October 2021 and August 2026. This home is asking $4,650,000, $1,250,000 above that median. The middle half of those sales closed between $2,576,250 and $3,942,500.

- **Median closed price**: $3,400,000
- **Middle half**: $2,576,250 – $3,942,500
- **Based on**: 56 house sales in Park Slope
- **Period**: October 2021 – August 2026
- **Median $/ft²**: $1,100/ft²

Across the 42 of these sales with a published asking price, the median closed at 95.9% of what it originally asked. 60% of them closed below the original ask.

A house is not part of a building of comparable apartments, so this benchmark is drawn from house sales across Park Slope. Apartment sales are excluded from it entirely.

### How these sales were negotiated

- **Sold vs original ask**: 95.9% of the original ask
- **Closed below ask**: 60% of 42 sales
- **Listed → in contract**: 47 days (about 7 weeks)
- **In contract → closed**: 73 days (about 10 weeks)

Across the 42 of these sales with a published asking price, the median closed at 95.9% of what it originally asked. 60% of them closed below the original ask.

Half of these homes were in contract within 47 days (about 7 weeks) of coming to market, based on the 55 with a recorded listing date.

Once a deal was agreed, closing took a further 73 days (about 10 weeks), based on the 54 with both dates recorded.

These are two separate periods measured on different clocks — time to find a buyer, and time from agreed deal to closing. They are medians of different sets of sales and do not add together into a single "days on market" figure.

Based on 56 house sales in Park Slope, October 2021 – August 2026. Each figure counts only the sales that recorded the dates it needs, which is why the denominators differ.

Sale prices are the consideration recorded with the City in ACRIS, and each sale is dated by the day the City recorded it. A closing date reported to the MLS typically falls one to two weeks earlier. Recorded sales describe what has already happened and are not an appraisal, a valuation, or an estimate of what this home will sell for.

[See every recorded sale at 397 5th Avenue](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/397-5th-avenue)

## Property Tax History

Taxes at 397 5th Avenue were $7,788 in 2026, up 8.0% from 2025.

| Year | Tax Assessment | Land | Additions | Billable Value | Property Tax | Tax Rate |
| --- | --- | --- | --- | --- | --- | --- |
| 2026 (FY 2026/27) | $468,000 | $154,800 | $313,200 | $62,301 | $7,788 | 12.5% (estimated) |
| 2025 (FY 2025/26) | $390,150 | $154,800 | $235,350 | $57,686 | $7,211 | 12.5% (estimated) |
| 2024 (FY 2024/25) | $366,120 | $154,800 | $211,320 | $57,686 | $7,211 | 12.5% |
| 2023 (FY 2023/24) | $305,100 | $154,800 | $150,300 | $55,899 | $6,988 | 12.502% |
| 2022 (FY 2022/23) | $299,700 | $154,800 | $144,900 | $51,758 | $6,349 | 12.267% |
| 2021 (FY 2021/22) | $281,700 | $154,800 | $126,900 | $47,924 | $5,864 | 12.235% |
| 2020 (FY 2020/21) | $333,900 | $154,800 | $179,100 | $44,374 | $5,443 | 12.267% |
| 2019 (FY 2019/20) | $90,420 | $20,640 | $69,780 | $29,976 | $6,345 | 21.167% |
| 2018 (FY 2018/19) | $28,305 | — | — | $28,305 | $5,921 | 20.919% |
| 2017 (FY 2017/18) | $26,722 | — | — | $26,722 | $5,447 | 20.385% |
| 2016 (FY 2016/17) | $25,230 | — | — | $25,230 | $5,044 | 19.991% |
| 2015 (FY 2015/16) | $25,230 | — | — | $25,230 | $4,933 | 19.554% |
| 2014 (FY 2014/15) | $24,980 | — | — | $24,980 | $4,785 | 19.157% |
| 2013 (FY 2013/14) | $23,588 | — | — | $23,588 | $4,527 | 19.191% |
| 2012 (FY 2012/13) | $22,269 | — | — | $22,269 | $4,135 | 18.569% |
| 2011 (FY 2011/12) | $21,025 | — | — | $21,025 | $3,828 | 18.205% |
| 2010 (FY 2010/11) | $21,025 | — | — | $21,025 | $3,651 | 17.364% |

The City has not published the official FY2026/27 and FY2025/26 tax rates yet. We calculated the tax for those years using the prior year’s rate, so treat them as an estimate rather than a figure the City has adopted. Every rate without the Estimated marker is the published one.

Tax Assessment is the assessed value on the City’s roll, and it is the figure other listing sites publish. It is not what the bill is calculated on. New York phases assessment changes in gradually for some tax classes, so the City bills the Billable Value shown beside it, less any exemption the owner holds. It usually trails the assessment, and it can sit above it for a few years after an assessment falls.

Figures are the New York City Department of Finance assessment roll for tax lot 3009940003. Assessed and billable values are determined by the City for tax purposes and are not an appraisal or an estimate of market value. Tax classes and rates are set annually and can change.

[How we source and calculate NYC property tax data](https://realestaterebatesnewyork.com/nyc-property-tax-data-methodology)

## About The Building

### 397 5th Avenue

397 5th Avenue, Brooklyn, NY 11215

A building in the neighborhood, currently featuring 1 active listing.

- **Year Built**: 1899
- **Total Units**: 1
- **Floors**: 3

[View the building page](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/397-5th-avenue)

### Available Residences — For Sale (1)

| Unit | Beds | Baths | Size | Price / Ft² | Price | Listing Office | Listed Date | Days on Market |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [N/A](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11215/397-5th-avenue-ny-11215) | 8 | 5 | 3,828 sqft | $1,215 | $4,650,000 | Compass | Jul 24, 2026 | 44 days |

## Estimated Monthly Payment

**$24,111 / month**, assuming a 20% down payment ($930,000), a 6.5% interest rate and a 30-year term. The page's calculator lets a buyer change all three.

- **Principal & Interest**: $23,513
- **Property Taxes**: $598

Estimates only. Actual payments may vary. Confirm terms with your lender.

## Park Slope

Overview of Park Slope

[Explore Park Slope](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/park-slope) · [All Neighborhoods](https://realestaterebatesnewyork.com/neighborhoods)

### Nearby Park Slope

- [Prospect Heights real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/prospect-heights)
- [Gowanus real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/gowanus)
- [South Slope real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/south-slope)
- [Prospect Park real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/prospect-park)
- [Boerum Hill real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/boerum-hill)
- [Carroll Gardens real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/carroll-gardens)

## Related Links

- [397 5th Avenue — building page](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/397-5th-avenue)
- [Park Slope neighborhood guide](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/park-slope)
- [Estimate your Buyer Commission Share and closing costs](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)
- [Contact Régis Roumila](https://realestaterebatesnewyork.com/contact)

---

> RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

> All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and the number of bedrooms listed is for informational purposes and is not a legal conclusion. Please consult with your own architect or engineer for exact dimensions and legal specifications.