The Real Deal New York

Rentals at long-stalled South Slope site finally hit market

January 23, 2014 11:15AM

A long-stalled Brooklyn development site in South Slope brought back to life as rentals last year is finally making its debut. Located at 683 Fourth Avenue, Greenwood on 4th will offer 16 apartments ranging from studios asking $1,800 to two-bedroom units asking $3,400.

New York-based developers Nick Malafis and Ioannis Glyptis revived the building last year after previous owner Isaac Katan’s plans for condominiums stalled due to a lack of financing, as The Real Deal reported.

Malafis and Glyptis opted to go the rental route in response to the robust demand for rentals in the area and the dearth of financing for condos, they said at the time.

Each apartment at the 21st Street building boasts a washer-dryer and hardwood floors, according to DNAinfo, and balconies allow for views of the landmarked Green-Wood Cemetery. The building is being marketed by Ideal Properties Group. [DNAinfo]  – Hiten Samtani