The Classic Modern

The Classic Modern is a condo located 556 5th Avenue, in South Slope, Brooklyn. The building was first built in 2007 and is 17 years old. The lot that the building was built on is 40 feet wide and 92 feet long. The official lot area is listed as 3,680 square feet. In total, 556 5th Avenue has a total floor area of 8,988 square feet. Of that, 6,486 square feet are used for residential purposes. About 2,502 square feet of the building are used for commercial purposes. There are a total of 14 units. Of those, 8 are residential units. There are 6 commercial units. Thankfully, the building is equipped with elevator service.

Interested in learning more about the building? There are many great amenities and features for residents in the building. Don't forget to take full advantage of the roof deck where you can soak up some sun during summer or host a get together with your friends and family. Both dogs and cats are allowed in the building! There are 12 closings on record, of which we have matching data for 2 listings. In the past 3 years, a listing in this building will typically remain on the market for about 128 days Meaning, listings tend to sell at a median of $965 price per square foot. The transaction that took the longest to complete was unit 5A, listed on Jun 16, 2020 for $799,000. This particular unit ultimately sold 128 days later for $792,000. The most recent transaction was for unit 4A, sold for $700,000 on Jan 04, 2022. Fun fact, the oldest transaction we have on record took place on Jun 25, 2009. See the full transaction history for The Classic Modern below.

South Slope, where 556 5th Avenue is located, has a median asking price of $1,525,000 for condo buildings. Meanwhile, the building itself has a median asking price of $792,000. For interested buyers, that means the building's median asking price is around 0.48% below the neighborhood's median asking price for condos. Which is great news as a buyer may end up finding some relatively affordable units in this building compared to other condo buildings in the neighborhood.

Unfortunately, there are currently no active listings within the building but our inventory of available units for sale is constantly updating in real time. Check back frequently for updates.