PARK SLOPE – A 12-story residential tower will rise on a small lot in Park Slope, only to cantilever out over its three-story neighbors to maximize space for what will be some pretty expensive condos.
The project at 269 4th Avenue, which was snapped up for a cool $4.4 million, makes use of the air rights above the three-story residential apartments at 265 4th Avenue, which the builders secured after purchasing the site in 2013.
Rising on a lot that was once the home of an autobody shop, the new development will have 39 condos, starting around $800,000 and topping out with the floating 3-bedroom 2-bath condos worth about $3,000,000, a representative of New Empire Real Estate Development told the Brooklyn Paper.
With the lot zoned for a height-allowance of 125 feet, the cantilever—the technical term for how the building extends out into the air—will give more space to the top-floor condos, which should have views to Manhattan from their outpost at between 1st and Garfield Streets.
Ground floor retail will factor into the building, which will come with the amenities that are de rigueur for luxury apartment buildings these days: gym, lounge, rooftop terrace and the like.
With construction underway at the site, the building could be finished as soon as 2019.