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114-116 Greenpoint Ave 12 Unit Apartment Building $11,000,000 ($916,667/Unit) 5% Cap Rate Brooklyn, NY 11222
Investment Highlights
- Indoor/Outdoor Video Surveillance, Penthouse Private Roof decks, Elevator, Fitness Room, Laundry Room, Bike Storage, 2024 Navien Boilers.
- Less than 1 Block to (G)Train, Convenient highway access to the Long Island Expressway, I-495, BQE, I- 278
- Wide-Plank Oak Floors, Recessed Lighting, Stainless Steel GE Appliances, Oversized Windows, Mitsubishi AC, Ceiling Fans, Private thermostat control
Executive Summary
An exceptional investment opportunity in the heart of Greenpoint, Brooklyn — a fully restored Landmark Elevator Building featuring 12 luxury residential apartments and 2 ground-floor retail storefronts.
Originally two adjoining commercial properties, the building was completely gut-renovated in 2012–2013 into a modern, energy-efficient, mixed-use development with premium finishes and strong income potential.
Residential Breakdown
• (2) Duplex Penthouses – Approx. 1,200 SF each
o 2 Bedrooms / 2 Bathrooms with Private Terraces & Roof Decks
• (10) One-Bedroom Apartments – Approx. 750 SF each/. (3) Units include Private Terraces
All apartments feature modern layouts, luxury finishes, private video intercoms, and are separately metered for electric and gas.
Commercial Retail Spaces
• (2) Ground-Floor Storefronts with Outdoor Patio Space and excellent visibility on Greenpoint Avenue
• Independently metered for gas, electric and water
Building Amenities & Systems
• Elevator Building
• Fitness Room
• Bicycle Storage Area
• Laundry Room with card system – generates approx. $6,000/year in additional income
• 24/7 Indoor & Outdoor Video Surveillance with off-site monitoring
• High-Efficiency LED Lighting throughout
Mechanical & Energy Systems
o Individual Navien Condensing Boiler (Installed 2024) and hot water storage tank
o Mitsubishi Stand-Alone Air Conditioning System
o Two-Zone Natural Gas Heating System with private thermostats
• Constant-Pressure Variable-Speed Domestic Water System
• New Building-Wide Lock System with remote lobby access and unique owner codes for mechanical rooms and on site key storage
Designed for maximum energy efficiency, this property operates with modern, low-maintenance systems that enhance long-term value and reduce operating costs.
Highlights
• Fully restored Landmark property in Greenpoint’s prime corridor
• 12 luxury residential units + 2 ground floor retail spaces
• Elevator, fitness room, bike storage, laundry income
• Separately metered utilities (electric & gas)
• New boilers installed in 2024
• Energy-efficient mechanicals & lighting
• Turnkey investment with strong income potential
Original structure restored and converted in 2012–2013
Construction Type: Landmark masonry building, fully modernized
Location: Greenpoint Avenue, between Manhattan Avenue & Franklin Avenue, Brooklyn, NY
Transportation: Less than 1 block to the G Train; convenient highway access to Long Island Expressway (I-495) and Brooklyn-Queens Expressway (I-278)
For photos, floor plans, maps, and more property details, visit. www.greenpointave.com
Originally two adjoining commercial properties, the building was completely gut-renovated in 2012–2013 into a modern, energy-efficient, mixed-use development with premium finishes and strong income potential.
Residential Breakdown
• (2) Duplex Penthouses – Approx. 1,200 SF each
o 2 Bedrooms / 2 Bathrooms with Private Terraces & Roof Decks
• (10) One-Bedroom Apartments – Approx. 750 SF each/. (3) Units include Private Terraces
All apartments feature modern layouts, luxury finishes, private video intercoms, and are separately metered for electric and gas.
Commercial Retail Spaces
• (2) Ground-Floor Storefronts with Outdoor Patio Space and excellent visibility on Greenpoint Avenue
• Independently metered for gas, electric and water
Building Amenities & Systems
• Elevator Building
• Fitness Room
• Bicycle Storage Area
• Laundry Room with card system – generates approx. $6,000/year in additional income
• 24/7 Indoor & Outdoor Video Surveillance with off-site monitoring
• High-Efficiency LED Lighting throughout
Mechanical & Energy Systems
o Individual Navien Condensing Boiler (Installed 2024) and hot water storage tank
o Mitsubishi Stand-Alone Air Conditioning System
o Two-Zone Natural Gas Heating System with private thermostats
• Constant-Pressure Variable-Speed Domestic Water System
• New Building-Wide Lock System with remote lobby access and unique owner codes for mechanical rooms and on site key storage
Designed for maximum energy efficiency, this property operates with modern, low-maintenance systems that enhance long-term value and reduce operating costs.
Highlights
• Fully restored Landmark property in Greenpoint’s prime corridor
• 12 luxury residential units + 2 ground floor retail spaces
• Elevator, fitness room, bike storage, laundry income
• Separately metered utilities (electric & gas)
• New boilers installed in 2024
• Energy-efficient mechanicals & lighting
• Turnkey investment with strong income potential
Original structure restored and converted in 2012–2013
Construction Type: Landmark masonry building, fully modernized
Location: Greenpoint Avenue, between Manhattan Avenue & Franklin Avenue, Brooklyn, NY
Transportation: Less than 1 block to the G Train; convenient highway access to Long Island Expressway (I-495) and Brooklyn-Queens Expressway (I-278)
For photos, floor plans, maps, and more property details, visit. www.greenpointave.com
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
- Views
- Intercom
- Smoke Free
Site Amenities
- 24 Hour Access
- Fitness Center
- Laundry Facilities
- Security System
- Smoke Free
- Trash Pickup - Curbside
- Storage Space
- Bicycle Storage
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| 2+2 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Excellent Transit (78)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 02563-0019 | Total Assessment | $1,889,100 (2025) |
| Land Assessment | $202,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,686,600 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
02563-0019
Land Assessment
$202,500 (2025)
Improvements Assessment
$1,686,600 (2025)
Total Assessment
$1,889,100 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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114-116 Greenpoint Ave
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