105-115 Greenpoint Avenue, Brooklyn, NY 11222

Greenpoint, Brooklyn, New York 11222

Listing ID Number

24972

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 107-115 Greenpoint Avenue, a package of three (3) renovated walk-up buildings consisting of 52 residential units located in Greenpoint, Brooklyn. The units are comprised of three (3) one-bedroom units, seventeen (17) two-bedroom units, twenty-seven (27) three-bedroom units, and five (5) four-bedroom units. Among the 52 units, fifty (50) are free market units and two (2) are rent stabilized units.

In addition to performing high-end renovations to the apartments, current ownership has secured approved plans to add a fifth floor to each building. The plans are slated to create five (5) four-bedroom, two bathroom penthouse units and one (1) two-bedroom, two-bathroom penthouse unit by duplexing the fifth floor down to the existing fourth floor units. Further, possessing a C2-4 commercial overlay, the property is permitted for retail use on the ground floor, allowing purchasers to capitalize on high retail rents along this corridor by converting the ground floor.

Located between Franklin Street and Manhattan Avenue, these assets are ideally located on the same block as the G subway line and off the corner of Greenpoint’s busiest retail corridor. 107-115 Greenpoint Avenue provides investors with the opportunity secure a high-end product and establish scale in one of New York City’s top growth markets.

Overview

Building Type:Apartment Buildings
Location:107-115 Greenpoint Avenue, Brooklyn, NY 11222
Section/Block/Lot:3/2558/66
Lot Dimensions:150 x 95
Stories:4
Residential Units:52

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen P. Palmese
Vice Chairman
(718) 307 6552
stephen.palmese@cushwake.com

Brendan Maddigan
Executive Managing Director
(718) 307 6507
brendan.maddigan@cushwake.com

Michael J. Mazzara
Director
(718) 606 7052
michael.mazzara@cushwake.com

Ethan Stanton
Associate Director
(718) 307 6553
ethan.stanton@cushwake.com

Patrick Madigan
Associate
(718) 606 7058
patrick.madigan@cushwake.com

Michael Gigante
Senior Associate
(718) 307 6555
michael.gigante@cushwake.com


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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.