Plans Filed To Demolish 3 Park Slope Buildings on Fourth Avenue

PARK SLOPE, NY — A developer who bought a stretch of land on Fourth Avenue in 2015 — breaking records at the time — filed plans to demolish three four-story buildings on the street, city records show.

The owner, under the name 167-174 Fourth Avenue LLC, filed plans with the Department of Buildings on Thursday to fully take-down the buildings at 161, 165 and 167 Fourth Ave., according to the plans.

Developers did not file plans for what would replace the buildings and the owner did not immediately respond to a request for comment. The Department of Buildings have not approved the plans yet, records show.

The development site from 167 to 171 Fourth Ave., near Degraw Street, was first put up for sale in 2014 and sold to 167-174 Fourth Avenue LLC for $6.3 million in an all-cash transaction in 2015, according to broker Cushman & Wakefield.

The cost came in at about $328-per-buildable-square-foot, which set a record for Fourth Avenue at the time, Cuhsman & Wakefield said.

"Our extensive marketing platform enabled us to identify a first-time foreign buyer to pay a record breaking price for 4th Avenue," Cushman & Wakefield’s Stephen Palmese said in a statement at the time.

The land also contains several vacant lots and under the current zoning, developers could build about 19,200-square-feet without approval, according to Cushman & Wakefield.

Owners of the developmental spot bought the property at 161 Fourth Ave. for around $3.6 million last year, city records show.

The homes are the latest on Fourth Avenue that developers want to tear-down. Earlier this month, Vanguard Real Estate Group filed plans to demolish the nearby four-story apartment building at 179 Fourth Ave. to replace it with an 11-story one with 23-units and ground-floor retail.

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