NEW YORK—Time Equities Inc. (TEI) has acquired 655 Fifth Ave. and 251 19th Street in Brooklyn’s South Park Slope neighborhood for a total price of $8.1 million.
GFI Realty Services’ Rick Helfand and Yanni Simantov the seller, a local investor, while Jeremy Curtin, also of GFI Realty, represented the buyer. Chris Pulling represented Time Equities in-house.
Located on the corner of Fifth Avenue and 19th Street, 655 Fifth Ave. stands four stories tall and contains 17,716 sq. ft. of space. Constructed in 1896, the building includes 10 residential loft apartments and one commercial unit. The property was originally constructed as a horse stable and was gutted and renovated in 1999.
Built in 1913, 251 9th Street contains 9,400 sq. ft. of space and includes eight residential lofts ranging from 850 sq. ft. to 2,300 sq. ft.
“Over the past few years South Slope has become an emerging hotspot for young professionals and families to live,” said Pulling. “As the neighborhood has changed and more retail stores and fine dining move into the area, we know the property value here will continue to improve.”