News:
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.
Tags:
Brokerage
New York City
MORE FROM Brokerage
Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
Columns and Thought Leadership
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)
September Promotion
