Invictus Property Advisors is proud to announce the successful sale of 480 5th Avenue in Park Slope, which closed for $3.52 million, or $818 per square foot.
Invictus represented the purchaser and was actively involved throughout the diligence and closing process. At the buyer’s request, Invictus assisted in collecting and organizing substantial documentation to support historical and prospective rental increases, conducted a thorough review of DHCR registrations, and coordinated the execution of tenant estoppel certificates across the property to ensure clarity around leases, rents, and regulatory status.
The property consists of six (6) multifamily residential units, including five (5) free-market units and one (1) rent-stabilized unit, along with a ground-floor commercial space. At closing, the free-market residential units and the commercial space were delivered occupied, while the rent-stabilized unit was delivered vacant, providing the purchaser with additional operational flexibility.
This transaction underscores Invictus Property Advisors’ ability to advise buyers through complex multifamily acquisitions, particularly where rent regulation, documentation, and tenant diligence are critical to underwriting and execution. Invictus continues to maintain a strong presence in Park Slope and Gowanus, advising owners and investors on multifamily and mixed-use transactions.
