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Brokerage
Posted: October 28, 2025
Ariel Property Advisors arranges $24 million sale of Park Slope development site
Brooklyn, NY Ariel Property Advisors (Ariel) has arranged the sale of a Park Slope development site assemblage located at 67-75 4th Ave. and 77 St. Marks Pl. for $24 million, or $283 per buildable s/f.
The transaction includes a combined 84,780 buildable s/f mixed-use site and falls under the city’s Mandatory Inclusionary Housing (MIH) provisions.
An Ariel team led by Sean Kelly, Esq., partner, Stephen Vorvolakos, director, and Nicole Daniggelis, associate director, represented the seller, Tolib Mansurov. The buyer was Shimon Kleinman.
“Achieving a sale price of $283 per buildable s/f for this site, which is designated for Mandatory Inclusionary Housing, underscores the robust and continued demand we’re seeing for development opportunities in Brooklyn,” said Kelly.
“Park Slope and Gowanus, in particular, combine strong fundamentals, excellent transit access, and dynamic neighborhoods that continue to attract significant developer interest.”
The transaction highlights Kelly and Ariel’s leading role in Brooklyn’s development market. Recent transactions in the area include:
- 544-550 Union St., Gowanus – 21,600 buildable s/f site for a condo development for $9 million ($417 per buildable s/f).
- 224 3rd Ave., Gowanus – 59,995 buildable s/f site (with 6,000 s/f of air rights) for $17.8 million ($296 per buildable s/f).
- 284 4th Ave., Gowanus – 33,261 buildable s/f residential development site for $7.85 million ($236 per buildable s/f).
- 125 3rd St., Gowanus – 101,852 buildable s/f mixed-use development site for $29.5 million ($290 per buildable s/f).
- 450 Union St., Gowanus – 142,500 s/f development site for $40.65 million ($285 per buildable s/f).
Situated on the east side of 4th Ave. between Bergen St. and St. Marks Place, the Park Slope development site offers frontage and is in close proximity to Barclays Center, Atlantic Terminal, multiple subway lines, Prospect Park, and the neighborhood’s dining, retail, entertainment, and cultural scene.
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