Real Estate
70 Unit Condo Building On 4th Ave. Breaking Ground This Week
The Daten Group is moving ahead with its $54 million Park Slope condo project, according to The Commercial Observer.
SOUTH SLOPE, BROOKLYN — The Daten Group has secured the $54 million it needs to move forward with a 70 unit condo building at 575 4th Ave. in Park Slope, according to a report in The Commercial Observer. Courtney Stephenson, Daten's chief financial officer, confirmed Tuesday that the project is happening, with ground being broken as soon as this week. The building should be completed by 2018, Stephenson said.
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According to Daten's website, the property spans a series of lots, specifically 573, 575, 577, 579 and 581 4th Avenue, and 189-193 and 195 Prospect Avenue.
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The development will be 11 stories, and its 70 apartments will be complemented by 6,500 square feet of retail on its first floor and 48 parking spots.
The Commercial Observer reported that Daten bought the land for the development in 2015 for $17 million.
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Daten has also released the following renderings showing spaces inside the future property:
Pictured at top: the future property. Images via The Daten Group.
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