The ground-floor retail space, currently occupied by the well-regarded Sip Fine Wine, adds to the building's appeal, especially given its designation as an essential business. This retail component not only enhances the building's value but also contributes to the vibrant community atmosphere of 5th Avenue. The property presents numerous possibilities for its use; owners can live in one unit while renting out the others, combine units for a larger residence, or maintain all three as rental properties, which currently yield a 5.3% cap rate.
With a potential for expansion (FAR As Built is 1.7, Allowable FAR is 3.0), the building offers significant investment opportunities. Its prime location provides easy access to top-notch restaurants, boutique shopping, and cultural attractions such as Prospect Park, BAM, and the Brooklyn Museum. This combination of residential comfort and commercial viability makes 67 Fifth Avenue a noteworthy property in Brooklyn's real estate landscape.
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