849 Manhattan Ave - Apartments FOR SALE


Brooklyn, NY 11222- Greenpoint
$2,500,000 USD
212-660-7739
849 Manhattan Ave, Brooklyn, NY for Sale
$2,500,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

849 Manhattan Ave
Brooklyn, NY 11222
Greenpoint


OVERVIEW

Cushman & Wakefield has been exclusively retained to arrange for the sale of 849 Manhattan Avenue, a premier 4-story mixed-use building in the heart of Brooklyn’s burgeoning Greenpoint neighborhood. The subject property is located on the west side of Manhattan Avenue between Noble and Milton Streets and spans approximately 6,571 square feet. The property consists of six residential units over one store, all of which are fully leased. 5 of the 6 residential units are rent stabilized, and the retail is occupied by Fornino, an Italian restaurant with 4 locations in New York City. Greenpoint has seen a wave of residential development over the past few years, and the market has transformed into one of New York City’s hottest waterfront residential neighborhoods. This transformation has been anchored by Greenpoint Landing, a mixed-use project that has already delivered ~3,000 new units and will bring over 5,500 new apartments to the neighborhood by the end of the decade. The property is steps away from the Greenpoint Avenue subway station serviced by the G train and is accessible via the numerous bus routes that service the area including the B24, B43 and B62 lines. This is the first time the property has been offered to market in decades, and it stands as an excellent opportunity for an investor to acquire a prime mixed-use building in one of New York City’s fastest growing submarkets.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$380 USD /SF

# OF UNITS

6

PRICE/UNIT

$416,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

C4-3A

APN/PARCEL ID

02566-0048

ASK ABOUT THIS PROPERTY

Josh NeustadterCushman & WakefieldMore Info
212-660-7739

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Josh NeustadterCushman & WakefieldMore Info
212-660-7739

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