Share This Listing

Message

919 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

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.

Property Facts

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

Property Taxes

Parcel Number
02706-0014
Land Assessment
$6,750
Improvements Assessment
$889,200
Total Assessment
$895,950
  • Listing ID: 42079092

  • Date on Market: 9/7/2026

  • Last Updated:

  • Address: 51 Driggs Ave, Brooklyn, NY 11222

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}