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518 Meeker Ave 10 Unit Apartment Building $3,550,000 ($355,000/Unit) Brooklyn, NY 11222
Executive Summary
Jones Lang LaSalle (“JLL”) has been retained on an
exclusive basis to arrange the sale of 518 Meeker Avenue
(the “Property”) a 10-unit, elevatored, mid-rise, multifamily
property in Greenpoint.
The 9,682 GSF Property is comprised of 10 units. Layouts
include 5 studios (50%), 3 one-bedrooms (30%), 1 two bedroom (10%), and 1 three-bedroom (10%). With
studios and one-bedroom units representing a vast
majority of the units, the Property’s unit mix sets the
building up to capitalize on the high demand for modern
& efficient rentals. 518 Meeker Avenue boasts modern
in-unit finishes including marble bathrooms, granite
counter tops, dishwasher, washer/dryer, and eight of
the ten apartments feature private outdoor spaces.
There are additional rooms in the basement that could
be offered as paid storage spaces for the tenants and
there is ample space to create a shared tenant lounge
and/or gym. In addition to the apartments with outdoor
spaces there is access to a common roof deck with
magnificent skyline views of Manhattan and Brooklyn.
The property’s Rent Stabilized status expires in 2033 at
which point the units will become Free Market upon first
turnover.
The Property benefits from its proximity to popular
establishments including FourFiveSix, Ringolevio, Café
MSMN, and Nightshade, with additional food, nightlife,
and grocery options available one block away on Graham
Avenue. Residents benefit from convenient Manhattan
access via the nearby Graham Avenue (L) subway
station. Greenpoint’s approximately 40,000 residents,
predominantly young professionals who prefer renting,
creates strong rental demand and present significant
opportunities for future ownership to capitalize on the
thriving rental market.
exclusive basis to arrange the sale of 518 Meeker Avenue
(the “Property”) a 10-unit, elevatored, mid-rise, multifamily
property in Greenpoint.
The 9,682 GSF Property is comprised of 10 units. Layouts
include 5 studios (50%), 3 one-bedrooms (30%), 1 two bedroom (10%), and 1 three-bedroom (10%). With
studios and one-bedroom units representing a vast
majority of the units, the Property’s unit mix sets the
building up to capitalize on the high demand for modern
& efficient rentals. 518 Meeker Avenue boasts modern
in-unit finishes including marble bathrooms, granite
counter tops, dishwasher, washer/dryer, and eight of
the ten apartments feature private outdoor spaces.
There are additional rooms in the basement that could
be offered as paid storage spaces for the tenants and
there is ample space to create a shared tenant lounge
and/or gym. In addition to the apartments with outdoor
spaces there is access to a common roof deck with
magnificent skyline views of Manhattan and Brooklyn.
The property’s Rent Stabilized status expires in 2033 at
which point the units will become Free Market upon first
turnover.
The Property benefits from its proximity to popular
establishments including FourFiveSix, Ringolevio, Café
MSMN, and Nightshade, with additional food, nightlife,
and grocery options available one block away on Graham
Avenue. Residents benefit from convenient Manhattan
access via the nearby Graham Avenue (L) subway
station. Greenpoint’s approximately 40,000 residents,
predominantly young professionals who prefer renting,
creates strong rental demand and present significant
opportunities for future ownership to capitalize on the
thriving rental market.
Property Facts
| Price | $3,550,000 | Building Class | B |
| Price Per Unit | $355,000 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 9,682 SF |
| No. Units | 10 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 2005 |
| Apartment Style | Mid-Rise | ||
| Zoning | R6 - R6 - Medium density residential district | ||
| Price | $3,550,000 |
| Price Per Unit | $355,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 9,682 SF |
| Average Occupancy | 0% |
| No. Stories | 6 |
| Year Built | 2005 |
| Zoning | R6 - R6 - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Sprinkler System
- Stainless Steel Appliances
- Tub/Shower
- Intercom
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Security System
- Storage Space
- Elevator
- Public Transportation
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Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (86)
Bike Score®
Very Bikeable (85)
Property Taxes
| Parcel Number | 02827-0131 | Improvements Assessment | $1,080,000 |
| Land Assessment | $40,500 | Total Assessment | $1,120,500 |
Property Taxes
Parcel Number
02827-0131
Land Assessment
$40,500
Improvements Assessment
$1,080,000
Total Assessment
$1,120,500
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518 Meeker Ave
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