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397 5th Avenue, Brooklyn NY 11215
397 5th Avenue, Brooklyn NY 11215
New York>Brooklyn>Central Slope

397 5th AvenueBrooklyn, NY 11215

For Sale

$4,650,000

**Prime Park Slope Investment Opportunity: 397 5th Avenue, Brooklyn**

Discover a meticulously maintained, three-story mixed-use building in the bustling retail corridor of 5th Avenue in Park Slope, Brooklyn. This property represents a rare investment opportunity in one of Brooklyn's most desirable neighborhoods.

Situated on a high foot traffic section of 5th Avenue, the building enjoys maximum visibility and accessibility. It is currently fully occupied, featuring a diverse tenant mix. The residential component includes four well-appointed 2-bedroom apartments, each with desirable front and back layouts. The retail space is currently leased for the next 10 years,

In excellent, turnkey condition, the building requires no immediate renovations or repairs, allowing for a seamless transition and continued revenue generation. This exceptional property combines a prime location, stable income, and well-maintained infrastructure, making it a valuable addition to any real estate portfolio. Don’t miss this opportunity to invest in a thriving area with a solid track record of demand and profitability.

Listed by Louis M Esposito

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Compass

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(718) 781-8310

Listed by Roseanne Degliuomini

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Compass

Last updated July 24, 2026

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Source: REBNY #RLS20078243

RLS Data display by Prevu Real Estate LLC

Listing Facts

  • TypeMulti-family
  • NeighborhoodCentral Slope
  • Bedrooms8
  • Bathrooms5
  • Days on Prevu8
  • Taxes$7,176/year
  • Size3,828 sqft
  • Price per sqft$1,215

Location

Mortgage Calculator

Listing History

07/24/2026
Listed by Compass
$4,650,000

Estimated Closing Costs

Attorney Fees
$4,000
NYC Mansion Tax
$69,750
Title Insurance
$20,925
Bank Attorney
$1,500
Mortgage Recording Tax
$62,658
Other Closing Costs
$4,000
Total
$162,833

Estimated closing costs are based on the list price of $4,650,000 and a 30% downpayment. These estimates are for indicative purposes only. Actual closing costs may vary for each transaction. See the Closing Costs Calculator for calculations specific to your situation.

Property Details for 397 5th Avenue

Association

Amenities

  • Pets Allowed: Building No, No

Exterior

Construction

  • Number Of Units Total: 4
  • Stories Total: 3
  • Structure Type: Multi Family, Mixed Use
  • Year Built: 1899
  • Entry Level: 1

Measurements

  • Building Area Total: 3,828
  • Building Area Units: SquareFeet
  • Lot Size Area: 1,429
  • Lot Size Dimensions: 14,291
  • Lot Size Units: SquareFeet

Financial

Taxes

  • Parcel Number: 00994-0003
  • Tax Annual Amount: $7,176.00

Interior

Features

  • Flooring: Hardwood
  • Interior Features: Wet Bar, Chandelier, High Ceilings, Recessed Lighting, Sound System, Bar

Measurements

  • Living Area: 3,828
  • Living Area Units: SquareFeet

Rooms

  • Basement: Full
  • Has Basement: Yes
  • Bathrooms Full: 4
  • Bathrooms Half: 2
  • Bathrooms Total Integer: 5
  • Bedrooms Total: 8
  • Rooms Total: 16

Other

Location

  • City Region: Brooklyn
  • Subdivision Name: Park Slope
  • Tax Block: 00994
  • Tax Lot: 0003

Utilities

Equipment

  • Cooling: Central Air, Wall Unit(s)
  • Has Cooling: Yes
  • Heating: Central, Forced Air, Natural Gas, Wall Furnace
  • Has Heating: Yes
  • Laundry Features: See Remarks

Frequently Asked Questions

How many bedrooms and bathrooms does this multi-family home have?

There are 8 bedrooms and 5 bathrooms in this multi-family home at 397 5th Avenue.

What are the annual taxes for 397 5th Avenue?

Annual taxes for this multi-family home are estimated at $7,176.

How does 397 5th Avenue compare to other multi-family homes in Central Slope?

This multi-family home is listed 10% above the average price for multi-family homes in Central Slope and has been on the market for 89 less days than the typical home in this area.

What is the square footage on this multi-family home?

According to the MLS, this listing is 3,828 sqft.

397 5th Avenue is a 8-bedroom, 5-bath multi-family home for sale in Brooklyn NY 11215. Listed on Prevu for 8 days at $4,650,000. This residence features 3,828 square feet of living space, located in Central Slope. The median listing price for multi-family homes in this area is $1,750,000. Explore more multi-family home listings in Brooklyn.

RLS Data display by Prevu Real Estate LLC The Registrant acknowledges each other RLS Broker's ownership of, and the validity of their respective copyright in, the Exclusive Listings that are transmitted over the RLS. The information is being provided by RLS at REBNY Listing Service, Inc. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. 2026 RLS at REBNY Listing Service, Inc. All rights reserved. Based on information from the Real Estate Board of New York and/or other sources. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity. 2026 The Real Estate Board of New York, Inc., All rights reserved.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.