55 Driggs Ave
Brooklyn, NY 11222
Vacant 4 Family, Mixed Use 55 Driggs Ave · Retail Property For Sale

~ Just Listed! ~ 55 Driggs Ave, Brooklyn NY 11222 VACANT 4 Family, Mixed Use Gem in Prime Greenpoint! ***Asking Price $3,800,000*** This solid 3 story brick building offers 2000 SF of retail space, 2600 residential SF and a semi-finished 2000 SF basement. The building is being converted from a 2 family to a 4 family. Letter of no objection is forthcoming. Property has a new sprinkler system and water lines. This asset provides an exceptional opportunity for homeowners, investors and developers alike to acquire and develop an existing 3 story brick structure on a 20 x 100 fT lot in prime Greenpoint where new condos sell for an average of $1375 per foot. Projected income (AS IS): $168K with lots of room to grow. Retail rents list around $35 - $45 per foot and 1BR rentals comps at around $2000 - $3500 in this area. Apartments have been lightly renovated and could rent as is. Greenpoint' s charming townhouses and cramped shops imbue its streets with a sense of welcomed familiarity. It takes a little longer to reach always-on-the-move Manhattan from this northernmost Brooklyn neighborhood, but basking in Greenpoint's communal vibe is well worth the extra minutes. Also worth the journey? The stellar skyline views of downtown Manhattan from the rooftops of Greenpoint' s converted warehouses and loft apartments.