323 5TH Avenue, New York City, NY 11215
Listing Courtesy of Douglas Elliman Real Estate
$3,900,000
Potential Rebate: $58,500
Overview
<p> 323 5th Avenue - 21.5ft Wide Prime Park Slope Mixed-Use with Retail & Duplex Residence Currently Zoned to PS 321 </p> <p> An exceptional opportunity in the heart of Park Slope, 323 5th Avenue offers a mixed-use building that combines stable commercial tenancy with a spacious duplex residence, encompassing approximately 2,851 square feet including the basement. </p> <p> Ground Floor & Lower Level </p> <p> A preschool currently occupies t he street-level retail storefront provid ing excellent frontage and visibility along bustling Fifth Avenue, benefitting from consistent neighborhood activity. A finished slab basement adds flexible space for storage or back-of-house operations. Tenant is in place through 20 31. </p> <p> Residential Duplex with Terrace currently zoned to PS 321 </p> <p> A newly renovated duplex apartment blends modern comfort with thoughtful design. Hardwood floors run throughout, complemented by double-pane insulated windows. The main level features expansive living and dining areas along with a modern, generously sized kitchen outfitted with updated appliances and ample counter space. The kitchen flows directly to a private terrace of approximately 400 square feet-an ideal setting for grilling, gardening, or outdoor entertaining. A convenient half bath completes this level. </p> <p> Upstairs, the primary suite includes a generous walk-in closet and a modern, upgraded en-suite bathroom. Two additional bedrooms share a second full bathroom, also updated with contemporary finishes. </p> <p> Building Upgrades </p> <p> The property was recently improved with new mechanicals, including two boilers and HVAC systems, providing efficiency and peace of mind for both residential and commercial use. </p> <p> Income / Expense set up available upon request </p> <p> Perfectly positioned near Prospect Park and surrounded by Park Slope's acclaimed restaurants, cafés, and shops, 323 5th Avenue combines commercial stability with desirable residential living in one of Brooklyn's most sought-after neighborhoods. The building also carries approximately 935 square feet of unused FAR; buyers are encouraged to consult with an architect or other professional regarding potential options. </p> <p> </p>
Home Features
- •Washer Hookup
- •In Unit
- •Private Outdoor Space Over 60 Sqft
- •Smoke Free
- •Washer Dryer Allowed
Estimated Monthly Payment
$20,102 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$58,500
Monthly savings impact
$163/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listing Courtesy of Corcoran Group
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RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Douglas Elliman Real Estate
Data Source: TRESTLE #RLS20047909
Price Analysis
Compare average listing prices and value metrics for 323 5TH Avenue against the surrounding Park Slope market.
Average List Price
Price Per SqFt
14.35% Lower
than the Park Slope price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
Park Slope
Overview of Park Slope
Park Slope is the quintessential family neighborhood of New York. Famous for its miles of brownstones, the expansive Prospect Park, and its progressive, literary vibe, it is often voted one of the best neighborhoods in America. For buyers seeking Park Slope Brooklyn real estate, it is the ultimate blend of beauty, community, and green space.
Living in Park Slope is idyllic. The avenues (5th and 7th) are lined with independent shops and strollers. As a premier Brooklyn NYC neighborhood, it sets the standard for brownstone living.
Real Estate & Housing Market
The market for homes for sale in Park Slope is premium. The "Gold Coast" along Prospect Park West features limestone mansions, while the side streets offer classic brownstones and co-ops.
Prices are high, especially for properties zoned for PS 321. It is a stable, high-value market that attracts families moving from Manhattan.
Lifestyle & Community
The lifestyle in Park Slope is active and community-focused. Residents spend weekends in Prospect Park, shop at the Park Slope Food Coop (if they are members), and dine at farm-to-table restaurants.
The community is known for being liberal, educated, and civic-minded. It is a "small town" within the big city.
Transportation & Accessibility
Park Slope is served by the F, G, R, 2, 3, B, and Q trains (depending on where in the slope you are). Commuting to Midtown takes 25-35 minutes.
The F train at 7th Avenue is the central hub for the neighborhood.
Parks, Schools & Amenities
Prospect Park is the neighborhood's backyard. Designed by the same creators as Central Park, it offers a zoo, a lake, and huge meadows. It is the center of life here.
Amenities are incredible: the Park Slope Food Coop, the Brooklyn Public Library, the Botanic Garden, and excellent public schools make it a self-contained paradise.
Who This Neighborhood Is Best For
Park Slope is best for families, writers, runners, and anyone who prioritizes parks, schools, and community over nightlife.
