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76 Java St 3 Unit Apartment Building $3,250,000 ($1,083,333/Unit) 4.80% Cap Rate Brooklyn, NY 11222
Executive Summary
GUT RENOVATED TURNKEY 100% OCCUPIED 3
FAMILY A rare opportunity to purchase a fully renovated, three-unit multifamily property in North Brooklyn, one of the most supply-constrained waterfront markets in New York City. Opportunities at this caliber, in this location, are very rare.
PREMIER GREENPOINT WATERFRONT LOCATION
Situated steps from the India Street NYC Ferry landing and moments from the G Train, 76 Java Street offers seamless access to Manhattan while sitting at the epicenter of Greenpoint's most coveted waterfront pocket, a location that continues to appreciate with every passing year.
WEST STREET & FRANKLIN STREET RETAIL CORRIDOR
Located next to West Street and Franklin Street, Greenpoint's most sought-after and rapidly emerging retail corridor. One block over is Franklin Street, which is a comparable location profile to Berry Street and N 6th in Williamsburg or Bleecker Street in the West Village.
SURROUNDED BY LUXURY DEVELOPMENT & EXCEPTIONALLY LOW TAXES
Flanked by over 1,000 new luxury units at Greenpoint Landing, The Huron, West Wharf, and 1 Java Street, the property benefits from powerful demand drivers and continued neighborhood appreciation, all with an exceptionally low annual tax bill of just $6,046.
COMPELLING VALUE
This fully gut-renovated 3-family is priced at $1,300 per square foot, when unrenovated 3-family properties just a couple of blocks away are already trading at $1,100 per square foot. For just $200 more per foot, buyers are getting a turnkey, fully modernized asset with zero renovation risk, no capital expenditure, and immediate income potential from day one.
FAMILY A rare opportunity to purchase a fully renovated, three-unit multifamily property in North Brooklyn, one of the most supply-constrained waterfront markets in New York City. Opportunities at this caliber, in this location, are very rare.
PREMIER GREENPOINT WATERFRONT LOCATION
Situated steps from the India Street NYC Ferry landing and moments from the G Train, 76 Java Street offers seamless access to Manhattan while sitting at the epicenter of Greenpoint's most coveted waterfront pocket, a location that continues to appreciate with every passing year.
WEST STREET & FRANKLIN STREET RETAIL CORRIDOR
Located next to West Street and Franklin Street, Greenpoint's most sought-after and rapidly emerging retail corridor. One block over is Franklin Street, which is a comparable location profile to Berry Street and N 6th in Williamsburg or Bleecker Street in the West Village.
SURROUNDED BY LUXURY DEVELOPMENT & EXCEPTIONALLY LOW TAXES
Flanked by over 1,000 new luxury units at Greenpoint Landing, The Huron, West Wharf, and 1 Java Street, the property benefits from powerful demand drivers and continued neighborhood appreciation, all with an exceptionally low annual tax bill of just $6,046.
COMPELLING VALUE
This fully gut-renovated 3-family is priced at $1,300 per square foot, when unrenovated 3-family properties just a couple of blocks away are already trading at $1,100 per square foot. For just $200 more per foot, buyers are getting a turnkey, fully modernized asset with zero renovation risk, no capital expenditure, and immediate income potential from day one.
Property Facts
| Price | $3,250,000 | Property Subtype | Apartment |
| Price Per Unit | $1,083,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 4.80% | Building Size | 2,400 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1931 |
| Zoning | M1-2/R6B | ||
| Price | $3,250,000 |
| Price Per Unit | $1,083,333 |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 2,400 SF |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | M1-2/R6B |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02549-0018 | Improvements Assessment | $160,800 |
| Land Assessment | $13,440 | Total Assessment | $174,240 |
Property Taxes
Parcel Number
02549-0018
Land Assessment
$13,440
Improvements Assessment
$160,800
Total Assessment
$174,240
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76 Java St
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