270 Fifth Street (The Milk Factory)
270 Fifth Street, Brooklyn, NY 11215
Park Slope, Brooklyn
BBL 3009870011 · BIN 3021327
- Type
- Cooperative
- Units
- 35
- Floors
- 4
- Amenities
- Elevator, central laundry, storage bins, video intercom and security cameras, per the offering plan, house rules and listing records. Parking spaces, held through separate blocks of cooperative shares, on both the Fifth Street and Sixth Street sides
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Washer/dryer
- Not permitted
- Flip tax
- Tiered or formula; see fees
Every recorded sale at this building, 1999–2025
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 2BR median, 2023–2024
- $1.1M
- 4 qualifying sales
- Recent range
- $999K – $2M
- Listing discount
- -2.5%
- Recorded transfers
- 49
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at The Milk Factory would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
This building processed milk for most of a century before anyone lived in it. Historical records, including a 1940 city tax photograph, show it as a Borden's plant, with a painted sign on the Fourth Avenue side and a large neon sign nearby. By the late 1980s the factory was empty. The 1989 offering plan converted it as of right into 35 apartments and 15 parking spaces, with no tenants to relocate and no commercial space left in the building.
That history sets it apart from most Brooklyn loft co-ops. It was never a Loft Law building. There were no residential occupants before the conversion and no Loft Board legalization. The sponsor bought a vacant factory, took out part of the old structure, added a fourth floor and delivered new residential space with a residential certificate of occupancy. Buyers get the proportions of an industrial building, with high ceilings, large windows and double-height duplexes, under a standard co-op structure.
The second structural fact is the air rights. In 2008 the corporation sold development rights to the developer assembling the Fourth Avenue frontage. The co-op's lot was merged into one zoning lot with that site in 2012, and a 12-story building rose at 363 Fourth Avenue in 2013. The sale gave the co-op capital. It also means the corporation has given up the unused floor area it once had.
The third is location. The building sits a few steps off Fourth Avenue, the corridor rezoned in 2003 that has since filled with new-construction condominiums and rentals. Here a buyer gets loft space and parking in a converted 19th- or early-20th-century building at the edge of brownstone Park Slope.
Architecture and unit composition
The offering plan describes duplexes on the first floor, single-level lofts and duplexes on the second, and on the third floor duplexes that rise into the fourth story added in the conversion. Listing records put ceilings at roughly 10 to 13 feet in single-level apartments and 18 to 23 feet in the double-height duplexes, several of which have upper rooms or balconies overlooking the main living space. Oversized factory windows are the rule. Some upper apartments have private roof decks.
The house rules protect the loft volumes. Shareholders may not add bathrooms, add loft space or enclose existing lofts, or channel into structural walls. Roof decks carry a 50-pound-per-square-foot load limit and require approved drainage mats.
Parking is a real asset here. The plan created 15 spaces, owned through shares and tied to apartments. The house rules now refer to lots on both the Fifth Street and Sixth Street sides. A 2024 share transfer in ACRIS moved an apartment and a parking space together.
Building operations
The corporation has invested steadily in the envelope. DOB records façade repair or restoration filings in 2014, 2018, 2021 (east lot line and rear courtyard) and 2023 (north and west façades), a boiler replacement in 2011 and removal of an underground fuel-oil tank in 2012. A 2022 alteration filing converts part of an existing lower-level duplex into a new laundry room; the filing keeps the unit count at 35.
The 2022 refinancing with Valley National Bank consolidated the prior loan and added about $1.75 million, which may have funded the façade work. Ask for the current balance, rate and maturity, and the most recent audited statement. In May 2026 the corporation recorded an easement with the owner of the neighboring lot at 290 Fifth Street. Ask what it covers; easements of this kind often relate to construction access or protection.
Policy framework
- Flip tax: $3 per share, as of January 2024, per the house rules.
- Pets: Two cats or dogs per apartment; a third visiting pet for up to a week a month.
- Washer/dryers: Not permitted in apartments.
- Parking: Spaces may be rented only to other shareholders.
- E-bikes and scooters: Not permitted anywhere on the premises, with a $500 fine.
- Smoking: Prohibited in common areas; permitted inside apartments only with board-approved filtration and sealing.
- Renovations: Board approval and a renovation agreement required; no added bathrooms, loft enclosures or jackhammers.
Not documented: the financing ceiling, sublet terms, pied-à-terre use, trust and LLC purchases, and the post-closing liquidity requirement. Confirm each with the managing agent.
Application and transaction fees
- Terms
- $3 per share as of January 2024, per the house rules on file. A flip tax is a transfer fee paid to the cooperative when an apartment sells
Source: The Roebling Team's building profile
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Pets and in-unit washer/dryer
- Pets
- Not verified
- In-unit washer/dryer
- Not permittedSource: The Roebling Team's building profile
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Monthly carrying charges in recent sales
- Maintenance, per room
- $279 per room a monthMedian of 4 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Maintenance as recorded with each sale. A co-op's maintenance already covers the building's real estate taxes and the building's own mortgage, if it has one; add your own loan payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Virtual or video entry
- YesSource: The Roebling Team's building profile
- Elevator
- Requires confirmationCity records and our profile differ.
- Amenities noted
- Garden, storage, laundry roomSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $23,282/yr
- Per unit / month range
- $0 – $55
- Modeled exposure split equally across 35 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed October 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Recent sales
Recent transfers at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Sep 16, 2025 | 1E | 3 BR · 2 BA · 1,300 sf | $2,015,270 | $1,550/sf | +6.3% |
| Sep 20, 2024 | 1B | 3 BR · 2 BA | $1,700,000 | +3.0% | |
| Aug 6, 2024 | 1A | 2 BR · 1 BA | $999,000 | +0.4% | |
| Jun 27, 2024 | 3I | 2 BR · 1 BA · 860 sf | $1,107,500 | $1,288/sf | +10.9% |
| Jun 22, 2023 | 2G | 2 BR · 1 BA | $1,100,000 | +0.0% | |
| Jun 7, 2023 | 2E | 2 BR · 1 BA | $1,015,000 | +2.0% | |
| Mar 23, 2022 | 2G | 2 BR · 1 BA | $999,000 | -13.1% | |
| Aug 4, 2021 | 4B | 2 BR · 1 BA | $1,225,000 | +11.5% |
Market read. Most recent trades (2025) cleared a median $1,550/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount -0.4% over ask.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00987-0011). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.
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What to know if you’re buying
Ask about the air-rights deal and its limits. The corporation sold its development rights and merged its zoning lot. Ask the managing agent for the recorded agreements and whether any restrictions or obligations run with the land.
Confirm the parking arrangement. A parking space is a separate block of shares. Confirm whether one comes with the apartment you are buying, its location, and its share of maintenance.
Get the loan terms. The 2022 loan added new money. Ask for the maturity date, rate and any assessment tied to façade work.
Check the loft rules before you plan a renovation. Adding a bathroom, a loft level or an in-unit washer is prohibited. If your plan depends on one of those, this is not the building.
What to know if you’re selling
Lead with the history and the volume. Borden's plant, the double-height duplexes and the factory windows are what no Fourth Avenue building offers.
Price the parking separately. If a space transfers with the apartment, show it as its own line in the listing package.
Have the façade record ready. Four DOB-filed façade programs since 2014 give a buyer's engineer a clear history.
Comparable buildings
If you're considering 270 Fifth Street, also evaluate:
- 443 12th Street (Ansonia Storage Warehouse) — a 1909 warehouse converted to a 36-apartment co-op in 1982; the closest Park Slope loft co-op in scale
- 420 12th Street (Ansonia Court) — the Ansonia Clock Company factory, converted to a 70-unit co-op in 1982
- 444 12th Street (Ansonia Muse) — an 1880s factory converted to a loft condominium; the condominium alternative
- 759 President Street — a former hospital complex converted to a 36-apartment co-op in 1984
- 1 Prospect Park West — a 1920s institutional clubhouse converted to condominiums in 2019
- 343 Fourth Avenue — the 2006 condominium at Fourth Avenue and Fifth Street; the new-construction option around the corner
- 423 Atlantic Avenue (The Ex-Lax Building) — an industrial conversion in Boerum Hill for the same loft buyer
- 28 Old Fulton Street (The Eagle Warehouse) — Brooklyn's best-known warehouse-to-co-op conversion
More Park Slope buildings
- 269 4th Avenue (Six Garfield), 269 Fourth Avenue — condominium
- 27 Prospect Park West — 1928 co-op
- 270 14th Street — 2024 condominium
- 275 Sixth Avenue — 1920 condominium
- 276 13th Street (5 One 5 Condominiums) — 2008 condominium
- 279 First Street — 1921 co-op
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Park Slope.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at The Milk Factory?
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646.939.7375 · c.cohen@compass.com