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305 McGuinness Blvd, Brooklyn, NY 11222
38 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 41,355 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Cap Rate:
- Listing ID
- Last Updated
- 241 days ago
The subject property, 305 McGuinness Blvd, is one five-story apartment building located on McGuinness Blvd, stretching a full block between Huron Street and India Street in the Greenpoint section of Brooklyn, New York (Block: 02533; Lot: 0033). The building sits on a 60 ft. x 200 ft. lot.
The property is currently comprised of 38 luxury residential loft units. The property was built in 2008 and is in pristine condition with condo quality units. The units are comprised of various different layouts with many of the units duplexed and additional units offering private outdoor spaces. The apartments features enormous floor to ceiling low emissivity windows, separate heating units, GE Energy Star appliances, luxury bathrooms and much more. Building amenities include an on-site gym, 18 parking spaces for rent, and common rooftop terraces that give tenants tremendous views of the Manhattan skyline.
Average rents in the building are approximately $37 psf in an area where average rents range from $45 psf to $50 psf which provides for tremendous upside in the rent roll. The property is a 5.4% cap rate on CURRENT numbers.
The building is located one block from the G-Train entrance at India Street. The 7 Train with direct access to Manhattan is a short walk across the PuIaski Bridge to the Vernon Blvd/Jackson Avenue Station. It is also located one block away from the heart of Manhattan Avenue shopping, dining, and nightlife. This property provides an investor the rare opportunity to obtain a condo quality luxury rental building in one of the most desired neighborhoods in Brooklyn.
Map of 305 McGuinness Blvd, Brooklyn, NY 11222 (Kings County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO