Progress at Greystone's Fourth Ave Rental in Park Slope; Team Wins Award for Historic Restoration Next Door

By CityRealty Staff | From Brooklyn Wednesday, May 9, 2018

Rendering of 225 Fourth Avenue in Park Slope via Greystone Development

Progress continues on a new rental building under construction at 225 Fourth Avenue in Park Slope.

The ground-up luxury residence is from Greystone Development and inside will be 63 rental units. Daniel Goldner Architects designed the 13-story building and has also designed recent residential developments 446 West 167th Street, a condo in Manhattan's Washington Heights, and 172 Montague Street in Brooklyn Heights. The new building rises on a previously empty lot directly adjacent to the R train subway entrance at Union Street, and it sits next to the landmarked 227 Fourth Avenue which is owned by Greystone and provided air rights for the new building.

227 Fourth Avenue (Photo: CityRealty)

277 Fourth Avenue is a New York City-landmarked building once known as NYC Public Bath #7 and is also on the New York State Register of Historic Places. It was originally constructed in 1910 and was recently recognized by the New York Landmarks Conservancy for its restoration which included the retention and preservation of almost 80 percent of the original glazed brick, limestone and terra cotta façade. The project received the Lucy G. Moses Preservation Award, named for the late New York City philanthropist. For the renovation, Greystone worked with Walter B. Melvin Architects, Daniel Goldner Architects and Higgins Quasebarth & Partners. Additionally, the intricate and colorful ornamental details, such as the nautical-themed polychromatic glazed terra cotta ornament and elaborate, classically-inspired cornice, were restored and revitalized.

225 and 227 Fourth Avenue in Park Slope (CityRealty)

The new building takes a more modern approach and is in stark contrast to its neighbor. It has a reddish-brown facade of which a portion is a glass window wall that extends to its base along Fourth Avenue. At the base of the new building will be 3,500 square feet of retail (a tenant has not been announced), and above will be the 63 apartments spread over 56,866 square feet, averaging 902 square feet per unit. While many details have not been revealed, permits indicate bike storage, private terraces and a common roof deck are included. The building will also provide space for a 409-square-foot healthcare facility.

(CItyRealty)

While we don't know what to expect for prices, a look at CityRealty's current listings for the neighborhood shows that the median rental price is $2,775/month - with 183 listings ranging from a $1,550/month studio at 476 Sixth Avenue to a $15,000/month townhouse rental at 41 Sterling Place.

Greystone has recently added several luxury rental buildings to their portfolio including the Harlem 125 development on 125th Street, and sister Clinton Hill rentals at 531 Myrtle Avenue and 100 Steuben Street. See all listings for Greystone Development's properties here.

69 East 125th Street in Harlem (Credit: CityRealty)

531 Myrtle Avenue in Clinton Hill (Credit: AB Architekten)

100 Steuben Street in Clinton Hill (Credit: AB Architekten)

Greystone Development

Greystone Development
No. 223 Fourth Avenue Leasing
223 Fourth Avenue
New York, NY 10019

(917) 224-XXXX

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