Taking the Pulse of 4th Avenue's Inventory


Sure, sometimes it seems like there are countless new condos on 4th Avenue, but, in fact, between the expressway and Atlantic Avenue there are only five that currently have units for sale. Some of the recent-vintage builds ended up being rentals, and it's unclear whether the next few that seem likely to actually finish construction, such as 574 4th Avenue, will be rentals or condos. Herewith, the latest numbers available on Brooklyn's Park Avenue condo inventory:

500 Fourth Avenue: Its marketers claimed last month that 20 percent of the 156 units are in contract. So: Around 125 available.
The Argyle: 8 out of 60 units remain, per Corcoran's listings page.
The Novo: 1 unit left for sale, according to StreetEasy.
The Crest: 2 units left unspoken for, says StreetEasy.
The Elan: Broker said last month 7 units were in contract; since then, 18 of the 32 units have been listed as rentals. Thus: 25 available depending on how you look at it. (While this one's about 20 yards from 4th Avenue proper, we're considering it 4th Avenue in spirit.)

Final analysis: Give or take, there are about 160 new condos to sell on 4th Avenue right now. A decent amount, yes, and there are more coming eventually. But it's not a Williamsburg-esque condopocalypse situation. And, at the end of the day, there's really only one building, 500 Fourth, accounting for the overwhelming majority of inventory.

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