Dtbg 390 Fifth Avenue Owner LLC paid $6M to 390 5Th Ave Group LLC

Dtbg 390 Fifth Avenue Owner LLC paid 390 5Th Ave Group LLC $5.8 million for 1 parcel, including the tax class primarily one family with store or office (S1) and containing 6 residential units at 390 5 Avenue in Park Slope. The deal closed on June 25, 2019 and was recorded on July 22, 2019. The parcel(s) have total development potential of 7,983 square feet.
The average sale price per square foot is $831.
The estimated cap rate is 4.1%
The last time the property sold was October 29, 2014, for $2,100,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 6 residential (or hotel) units on June 19, 2018.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $709,715. Those filings sought to increase the number of residential units by 5 to 6 There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $93,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link