Zero deals signed for $4M homes in Brooklyn last week
The model unit at Arias Park Slope, a 12-story, 95-unit condominium-turned-rental building on Fourth Avenue near Butler Street, has opened and a June 1 move-in date has been revealed. Developed by the Iconic Group and designed by Ismael Leyva Architects, the Arias has a brownstone exterior, a rooftop bar and grill with 360-degree views and is comprised of studios and one- and two-bedroom apartments starting at $1,800 per month. The Arias is just one of the new residential buildings being developed along Fourth Avenue, and as previously reported by The Real Deal, many of the properties originally conceived as condos changed course due to the credit crunch. When the area was rezoned in 2003, the Department of Planning did not require developers to lease the ground floor for retail, and many of the new buildings have declined to do so. But the Arias has more than 6,000 square feet of retail space, including approximately 1,500 square feet leased to FasTracKids (note: correction appended). TRD
