--- title: "559 4TH Avenue, Brooklyn, NY 11215" description: "559 4TH Avenue, Brooklyn, NY 11215 — NYC real estate listing on Real Estate Rebate Team. Priced at $2,995,000. Est. potential buyer savings up to $74,875 (subject to buyer-broker compensation received, lender approval, and applicable law)." url: "https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11215/559-4th-avenue-ny-11215" source: "Real Estate Rebate Team" --- # 559 4TH Avenue, Brooklyn, NY 11215 > **Listing Courtesy of:** Corcoran Group ## Description 559 4th Avenue a/k/a 133-135 16th Street presents a rare mixed-use investment and development opportunity in the heart of the rapidly transforming Park Slope/Gowanus corridor. Situated on a prominent northeast corner lot, this income-producing property combines strong existing infrastructure with significant future upside through additional buildable square footage. The property sits on a 20 ft x 90 ft lot with a current built area of approximately 5,346 square feet and building dimensions of 20 ft x 90 ft. Zoned R8A / C2-4 within the Enhanced Commercial District - 1 (EC-1), the site offers substantial development potential with a maximum buildable area of approximately 10,836 square feet, leaving additional buildable area available. Zoning & Development Highlights: Residential FAR: 6.02 Facility FAR: 6.5 Current FAR: 2.97 Max Buildable Area: 10,836 SF Current Built Area: 5,765 SF Property Features: Four residential rental apartments One basement studio unit Finished basement with kitchenette Two vacant commercial storefronts Two-car garage with electric garage door Most residential units to be delivered vacant Regular-shaped corner lot with northeast exposure Ground elevation: 54 ft This versatile mixed-use asset offers exceptional flexibility for investors, developers, end-users, or 1031 exchange buyers seeking immediate income with long-term redevelopment potential. The combination of vacant commercial space, mostly vacant residential units, garage parking, and unused FAR creates multiple value-add strategies ranging from luxury rentals and condominium conversion to mixed-use redevelopment or owner-occupancy. Perfectly positioned along bustling 4th Avenue with close proximity to transportation, retail corridors, dining, and the ongoing growth surrounding Gowanus and South Brooklyn, this is an opportunity to acquire a strategically located property with both stable fundamentals and meaningful future upside. ## Property Details - **Price**: $2,995,000 - **Potential Buyer Rebate**: $74,875 - **Bedrooms**: 13 - **Bathrooms**: 7 - **Living Area**: 1,800 sqft - **Property Type**: Residential - **Building**: 559 4TH Avenue - **Neighbourhood**: Park Slope - **Area / Borough**: Brooklyn - **Subdivision**: Park Slope - **Listing Office**: Corcoran Group - **State**: NY ## Estimated Potential Buyer Savings Real Estate Rebate Team estimates potential buyer savings of up to **$74,875** at closing. *Estimated by Real Estate Rebate Team. Subject to buyer-broker compensation received, lender approval, transaction terms, and applicable law. Not all listings qualify.* ## Related Links - [Building details](https://realestaterebatesnewyork.com/buildings//buildings/new-york-city/brooklyn/559-4th-avenue) - [Neighbourhood guide](https://realestaterebatesnewyork.com/neighborhoods//neighborhoods/new-york-city/brooklyn/park-slope) - [Calculate your exact cash back and book a showing here](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) - [Contact Regis Roumila for more details](https://realestaterebatesnewyork.com/contact) --- > This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. > 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.