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51 Driggs Ave
Brooklyn, NY 11222
Prime Greenpoint Multifamily | 6 Apartments · Multifamily Property For Sale
·
6 Units

Investment Highlights
- Boutique Residential Asset: An intimately scaled building featuring six well-appointed apartments.
- High-Demand In-Unit Amenities: All Free Market units feature in-unit washers and dryers alongside modern residential upgrades to drive premium market
- Prime Greenpoint Location: Ideally situated in one of Brooklyn's most desirable neighborhoods, steps away from premier shopping, dining
- Turnkey Asset Quality: Impeccably maintained property featuring 4 out of 6 units fully gut-renovated, significantly reducing immediate CapEx
- Optimized Utility Costs: 3 of 6 tenants pay their own heat and hot water directly.
Executive Summary
51 Driggs Avenue presents an opportunity to acquire a six-unit multifamily asset in the Greenpoint neighborhood of Brooklyn, one of New York City's most established residential markets. The property consists of a mix of free-market and rent-stabilized apartments, offering a combination of current income and long-term asset positioning. Recent capital improvements and renovated residential units help support operational efficiency while reducing near-term improvement requirements.
The property benefits from its location along Driggs Avenue, within close proximity to McGolrick Park and the neighborhood's collection of restaurants, cafés, neighborhood retail, and community amenities. Greenpoint continues to attract residents seeking access to both neighborhood-oriented conveniences and the broader employment centers of Brooklyn and Manhattan. Nearby transit connections provide access throughout New York City, while the surrounding residential density supports sustained housing demand.
Several units have undergone substantial renovations, including updated building systems and modern interior finishes. The combination of renovated apartments, existing tenancy, and a well-maintained building profile creates an investment opportunity suited for buyers seeking stable multifamily ownership in a supply-constrained Brooklyn submarket. The property's scale allows for hands-on management while benefiting from the strong residential fundamentals that have contributed to Greenpoint's continued desirability among renters and investors.
The property benefits from its location along Driggs Avenue, within close proximity to McGolrick Park and the neighborhood's collection of restaurants, cafés, neighborhood retail, and community amenities. Greenpoint continues to attract residents seeking access to both neighborhood-oriented conveniences and the broader employment centers of Brooklyn and Manhattan. Nearby transit connections provide access throughout New York City, while the surrounding residential density supports sustained housing demand.
Several units have undergone substantial renovations, including updated building systems and modern interior finishes. The combination of renovated apartments, existing tenancy, and a well-maintained building profile creates an investment opportunity suited for buyers seeking stable multifamily ownership in a supply-constrained Brooklyn submarket. The property's scale allows for hands-on management while benefiting from the strong residential fundamentals that have contributed to Greenpoint's continued desirability among renters and investors.
Property Facts
| Price Per Unit | $408,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.30% | Building Size | 6,496 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1928 |
| Zoning | R6B - medium density residential zoning district | ||
| Price Per Unit | $408,333 |
| Sale Type | Investment |
| Cap Rate | 7.30% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,496 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1928 |
| Zoning | R6B - medium density residential zoning district |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Hardwood Floors
- Refrigerator
- Tub/Shower
- Yard
- Basement
- Family Room
Property Taxes
| Parcel Number | 02706-0014 | Improvements Assessment | $889,200 |
| Land Assessment | $6,750 | Total Assessment | $895,950 |
Property Taxes
Parcel Number
02706-0014
Land Assessment
$6,750
Improvements Assessment
$889,200
Total Assessment
$895,950
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