The $5.6 Million Transformation: Uncovering The Brand New Luxury Development At 65 4th Ave Brooklyn
As of late December 2025, the address 65 4th Avenue in Brooklyn’s desirable Park Slope neighborhood is no longer defined by a historic, four-story pre-war structure but by a striking, brand-new ten-story mixed-use development that has recently wrapped up construction. This significant project stands as a testament to the ongoing real estate boom along the 4th Avenue corridor, transforming a once modest site into a vertical residential statement.
This massive shift on the Park Slope/Gowanus border represents a crucial piece of the area’s evolving architectural landscape. The new building at 65 4th Avenue is a modern, 30-unit residential project that has dramatically increased the density and market value of the site, signaling a new era of luxury living for the 11217 ZIP code. Its completion is a major milestone for the Brooklyn real estate market.
The New 65 4th Avenue Development: Key Facts and Figures
The transformation of 65 4th Avenue from a low-rise, five-unit building to a modern, ten-story condominium complex is a textbook example of Brooklyn's rapid urban redevelopment. This section breaks down the essential details of the project, providing a clear profile of the new structure and the team behind it.
- Address: 65 4th Avenue, Brooklyn, NY 11217.
- Neighborhood: Park Slope (near the border of Gowanus).
- Current Status: Construction is wrapping up/recently topped out (as of late 2025).
- Building Type: Mixed-Use Residential/Condominium.
- Height: 10 stories (approximately 100 feet tall).
- Total Units: 30 residential apartments.
- Year Built (New Structure): 2024.
- Developer/Owner: Yisroel Greenfeld (a Brooklyn-based developer).
- Architect/Engineer: MHM Engineering PC.
- Current Tax Assessor's Market Value: $5,656,000 (as of 2024).
The project was a significant undertaking, following the sale of the development site (63-65 Fourth Avenue) in an off-market deal for $7.4 million in June 2021. This transaction paved the way for the demolition of the old structure and the construction of the current high-rise.
From Pre-War Rental to Luxury Condo: The Site's History
To fully appreciate the scope of the 65 4th Avenue project, it is essential to look at what stood there before. The site’s history is a micro-narrative of Brooklyn’s evolving real estate trends, moving from classic pre-war housing to modern, amenity-rich condominiums.
The Original Structure: A 1920s Landmark
Prior to the recent development, 65 4th Avenue was a much smaller, more traditional Brooklyn building. Records indicate the original structure was built in 1920. It was a four-story, five-unit pre-war rental building, typical of the housing stock in the area before the major rezoning and development wave of the 21st century.
This older structure occupied a prime piece of real estate, but its low density was ripe for redevelopment given the area's increasing demand. The decision by developer Yisroel Greenfeld to pursue a new 100-foot-tall building reflects the intense pressure to build higher and denser near major transit hubs like Atlantic Terminal and the Barclays Center, which are only a short walk away.
The Park Slope/Gowanus Development Corridor
The new 65 4th Avenue building is part of a larger, systemic change along the 4th Avenue corridor, often dubbed the "Fourth Avenue Spine." This area has seen a massive influx of new residential buildings following rezonings. This strategy aims to accommodate population growth and increase housing supply in a highly desirable part of New York City.
The building's location is strategically positioned to benefit from both the residential charm of Park Slope and the burgeoning industrial-turned-creative landscape of Gowanus. Residents are within walking distance of multiple subway lines (including the 4, 5, B, D, N, Q, and R trains), offering unparalleled access to Manhattan and other parts of Brooklyn.
Architectural Details and Neighborhood Impact
MHM Engineering PC’s design for the new 65 4th Avenue is focused on maximizing space and offering high-end finishes, typical of new Brooklyn luxury condos. While specific unit layouts are still being finalized for public listing, the overall design suggests bright, spacious living with modern amenities to attract affluent buyers and renters.
Unit Features and Finishes
New residential developments in this price bracket typically feature top-tier finishes. The 30 units, which likely include a mix of one-bedroom, two-bedroom, and possibly penthouse residences, are expected to boast features such as in-unit laundry, custom cabinetry, high-end stainless steel appliances, and large windows to maximize natural light. Previous listings for the area suggest apartments offer beautifully designed spaces with full-service amenities.
The shift from five rental units to thirty modern units significantly increases the housing stock, but also contributes to the rising cost of living in the immediate vicinity. This development is a clear sign that Park Slope's appeal is extending further toward the industrial edge, pushing up property values and transforming the streetscape.
Topical Authority and Surrounding Entities
The impact of 65 4th Avenue cannot be isolated. It is situated in a highly dynamic area surrounded by other major developments and key entities, cementing its topical authority:
- Barclays Center: A major sports and entertainment venue, driving commercial activity.
- Atlantic Terminal: A major transit and shopping hub.
- Pacific Park Brooklyn (formerly Atlantic Yards): A massive mixed-use development complex nearby, setting a precedent for large-scale construction.
- Gowanus Canal: The nearby area undergoing a significant, controversial rezoning that will bring thousands of new housing units.
- The 11217 ZIP Code: One of Brooklyn's most sought-after and expensive real estate markets.
The completion of 65 4th Avenue is more than just a new building; it is a symbol of the continuous, multi-million-dollar reinvention of the Fourth Avenue corridor, solidifying the area's status as a premier destination for luxury living in Brooklyn. For prospective residents, it offers a chance to live in a brand-new building with modern comforts, right at the intersection of historic charm and urban convenience.
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