47 Franklin St - Apartments FOR SALE


Brooklyn, NY 11222- Greenpoint
$6,950,000 USD
718-475-4382
47 Franklin St, Brooklyn, NY for Sale
$6,950,000 USD
Apartments - FOR SALE
1/21
null | 6.4% Cap Rate

47 Franklin St
Brooklyn, NY 11222
Greenpoint


HIGHLIGHTS

  • Brick, 100% Free Market Corner Mixed Use Bldg on the Greenpoint Waterfront
  • 4 Apts and 2 Retail Stores | Brand New Certificate of Occupancy | Bldg will be Exempt from Good Cause Eviction Law
  • Both Retail Spaces are Occupied by the Neighborhood Staple: Chez Ma Tante
  • 85.5' of Frontage on Calyer Street | 25.83' of Frontage on Franklin Street
  • One Block from the Brand New Bushwick Inlet Waterfront Park's called the Motiva Section
  • Retail will only continue to strengthen at this corner given there are 5,000+ Luxury Units slated to be built over the next 5 years within 8 blocks

OVERVIEW

Marcus & Millichap is pleased to exclusively present 47 Franklin Street, a corner mixed-use property at Calyer and Franklin Street in the heart of Greenpoint. The building comprises four two-bedroom, one-bath floor-through apartments and two retail stores — 100% free market and fully occupied. All four residential units are fully leased, and both retail spaces are home to the extremely successful restaurant Chez Ma Tante. The property has been meticulously renovated over the past three years and will be delivered with a brand-new Certificate of Occupancy. This new CO exempts the property from the Good Cause Eviction Law, giving a new owner the ability to capture ongoing upside in Greenpoint's thriving residential rental market for years to come. The location is exceptional: one block from the waterfront and Bushwick Inlet Park, a five-minute walk to prime North Williamsburg, four blocks from the G train at Greenpoint Avenue, and surrounded by some of the best shopping, dining, and nightlife in New York City.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$1,236 USD /SF

# OF UNITS

4

PRICE/UNIT

$1,737,500

CAP RATE

6.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

M12R6B

APN/PARCEL ID

02589-0014

ASK ABOUT THIS PROPERTY

Shaun RineyMarcus & MillichapMore Info
718-475-4382

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Shaun RineyMarcus & MillichapMore Info
718-475-4382

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.