07 Sep Announcing the purchase of 5018 5th Ave, Sunset Park

Posted at 23:53h 5018 5th Ave, Properties by JoJo Chehebar

Gideon Asset Management is pleased to announce the purchase of 5018 5th Avenue, in the Sunset Park section of Brooklyn, NY.

The property is currently a 3 story property with 1 retail space and two vacant floors above.

Gideon’s plans call for extending the retail and adding two new apartments to the upper levels. This will result in a prime ground floor retail space totaling 2600 SF, and two completely new apartments on the 2nd and 3rd floors, taking advantage of rising residential and retail demand along 5th avenue.

Gideon anticipates delivery of the space within 8 months and are in talks with multiple National tenants for the retail space.

“This was a good opportunity for us to enter the Sunset Park market, especially with all the new businesses and workers moving into the area due to the Industry City redevelopment currently underway”, said JoJo Chehebar, managing partner of Gideon.

For More information about Gideon Asset Management, please visit www.GideonAM.com or 212.349.0500