Real Estate

Developers Plans To Sell 70 Park Slope Condos For $106M

Daten Group plans to sell the 70 condos in the under-construction development fora total of $106 million, the Real Deal reported.

PARK SLOPE, NY — Developers of an under-construction project on Fourth Avenue plan to sell the 70 condos for $106 million, the Real Deal reported.

Daten Group filed an offering plan with the Attorney General's office this month showing how much they plan to sell all the units in the 575 Fourth Ave. project when construction finishes, state records show.

The 11-story building — which spans a series of lots on Fourth and Prospect avenues — will also have three storefronts and space for 40 parking spots, according to the offering plan.

Find out what's happening in Park Slopefor free with the latest updates from Patch.

The Daten Group bought the lot for $17 million in 2015 and got a $54 million debt package last year to start construction on the project, the Commercial Observer reported.

They broke ground on the project in last February and plan to finish construction of it sometime this year.

Find out what's happening in Park Slopefor free with the latest updates from Patch.


Image courtesy of the Daten Group

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