397 5th Ave, Brooklyn, NY, 11215
About This Home
**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.
Getting Around
Walker's Paradise
Very Limited Transit
Very BikeableSchools
Construction
Condition
- Year built: 1899
Type & Style
- Home type: SingleFamily
- Property subType: Mixed Use
Interior
Appliances
- Appliances included: Dishwasher
Bedrooms & Bathrooms
- Bedrooms: 8
- Bathrooms: 6
- Full bathrooms: 6
Cooling
- Cooling features: Central Air
Features
- Flooring: Hardwood
Interior Area
- Total structure area: 3,828
- Total interior livable area: 3,828 sqft
Property
Details
- Parcel number: 009940003
- Special condition: Resale
Features
- Patio & porch: Other
- Exterior features: Courtyard
- Has view: Yes
- View description: City
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Kings County and New York
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $23,512 | $282,144 |
| Home Insurance * | $716 | $8,592 |
| Property Taxes | $6,002 | $72,024 |
| Electricity | $632 | $7,591 |
| Total | $30,862 | $370,344 |
Income You'd Need if You Spent...
New York FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-13 | Price change | $4,650,000 |
| 2024-10-12 | Price change | $5,375,000 |
| 2024-08-26 | Listed for sale | $6,100,000 |
| 2016-04-05 | Sold | $2,550,000 |
| 2015-04-10 | Listing removed | $2,490,000 |
| 2013-11-08 | Price change | $2,490,000 |
| 2013-10-10 | Listed for sale | $2,790,000 |
| 2013-07-14 | Listing removed | $2,790,000 |
| 2013-06-15 | Listed for sale | $2,790,000 |
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