143 Green Street is a three-story multifamily apartment building located in a Federally Qualified Opportunity Zone, between Franklin Street and Manhattan Avenue in the Greenpoint section of Brooklyn, NY. The subject property is built 25 ft x 50 ft on a 25 ft x 100 ft M1-2/R6A, MX-8 zoned lot (Block: 2512 Lot: 58). The existing building totals approximately 3,750 square feet and consists of six rent stabilized apartments. One unit, previously owner occupied, will be delivered vacant.
Marcus & Millichap has been exclusively retained to execute the sale of 143 Green Street, Brooklyn, NY 11222. 143 Green Street is superbly located just five blocks from the Greenpoint Avenue “G” subway station. Investors have the opportunity to purchase this recently renovated, primely located cash flowing multifamily apartment building in one of the most vibrant and thriving neighborhoods in Brooklyn. The area sports an eclectic variety of restaurants, such as Norman, Karczma, Greenpoint Fish & Lobster Co., and Le Fond, as well as popular spots for after dinner recreation like The Gutter, Spritzenhaus and Bar Matchless.
The building is surrounded by multiple residential and commercial developments that will assuredly improve the immediate area and consequently raise the value of this asset in years to come. The purchaser can capitalize on the phenomenal location, as well as close proximity to both public transportation and the highly trafficked Manhattan Avenue retail corridor. Potential for future redevelopment is also a distinct possibility, with an additional 3,750 unused air rights and zoning that allows for both commercial and residential use.
