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136 Franklin St 4 Unit Apartment Building $6,250,000 ($1,562,500/Unit) 5.10% Cap Rate Brooklyn, NY 11222
Investment Highlights
- Fully Gut Renovated, 100% Leased Mixed Use Building
- Comparable location profile to Berry Street and N 6th in Williamsburg or Bleecker Street in the West Village
- Apartments on 2nd through 4th Floor are three bedrooms units | Significant upside in rents upon lease expiration
- Located on the Best Retail Block in Greenpoint (Franklin btwn Greenpoint Avenue & Milton Street) and one of the best retail blocks in all of Brooklyn
- Building occupied by Van Leeuwen Ice Cream with lease expiring in 2034 providing long term stability in the retail
- Brand New Certificate of Occupancy in August 2025 | Property is Exempt from Good Cause Eviction Law
Executive Summary
• There are over 5,000 luxury units that are under construction or will be completed over the next 5 years in a 5-block radius from the property, which will further entrench this block as the premier retail destination in Greenpoint with a path to achieve N 6th and Berry Street-esque retail leasing price PSF over the next 5 to 7 years (i.e., $250+ PSF).
• One Block to the G Train at Greenpoint Avenue | 5 Minute walk to Ferry at India Street
• One Block to the G Train at Greenpoint Avenue | 5 Minute walk to Ferry at India Street
Property Facts
| Price | $6,250,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $1,562,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 5.10% | Building Size | 4,753 SF |
| No. Units | 4 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | R6 - R6 is a medium-density residential zoning district. | ||
| Price | $6,250,000 |
| Price Per Unit | $1,562,500 |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,753 SF |
| No. Stories | 4 |
| Year Built | 1930 |
| Zoning | R6 - R6 is a medium-density residential zoning district. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02563-0005 | Improvements Assessment | $516,600 |
| Land Assessment | $73,800 | Total Assessment | $590,400 |
Property Taxes
Parcel Number
02563-0005
Land Assessment
$73,800
Improvements Assessment
$516,600
Total Assessment
$590,400
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136 Franklin St
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