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849 Manhattan Ave 6 Unit Apartment Building $2,500,000 ($416,667/Unit) Brooklyn, NY 11222
EXECUTIVE SUMMARY
Cushman & Wakefield has been exclusively retained to arrange for the sale of 849 Manhattan Avenue, a premier 4-story mixed-use building in the heart of Brooklyn’s burgeoning Greenpoint neighborhood.
The subject property is located on the west side of Manhattan Avenue between Noble and Milton Streets and spans approximately 6,571 square feet. The property consists of six residential units over one store, all of which are fully leased. 5 of the 6 residential units are rent stabilized, and the retail is occupied by Fornino, an Italian restaurant with 4 locations in New York City.
Greenpoint has seen a wave of residential development over the past few years, and the market has transformed into one of New York City’s hottest waterfront residential neighborhoods. This transformation has been anchored by Greenpoint Landing, a mixed-use project that has already delivered ~3,000 new units and will bring over 5,500 new apartments to the neighborhood by the end of the decade.
The property is steps away from the Greenpoint Avenue subway station serviced by the G train and is accessible via the numerous bus routes that service the area including the B24, B43 and B62 lines. This is the first time the property has been offered to market in decades, and it stands as an excellent opportunity for an investor to acquire a prime mixed-use building in one of New York City’s fastest growing submarkets.
The subject property is located on the west side of Manhattan Avenue between Noble and Milton Streets and spans approximately 6,571 square feet. The property consists of six residential units over one store, all of which are fully leased. 5 of the 6 residential units are rent stabilized, and the retail is occupied by Fornino, an Italian restaurant with 4 locations in New York City.
Greenpoint has seen a wave of residential development over the past few years, and the market has transformed into one of New York City’s hottest waterfront residential neighborhoods. This transformation has been anchored by Greenpoint Landing, a mixed-use project that has already delivered ~3,000 new units and will bring over 5,500 new apartments to the neighborhood by the end of the decade.
The property is steps away from the Greenpoint Avenue subway station serviced by the G train and is accessible via the numerous bus routes that service the area including the B24, B43 and B62 lines. This is the first time the property has been offered to market in decades, and it stands as an excellent opportunity for an investor to acquire a prime mixed-use building in one of New York City’s fastest growing submarkets.
PROPERTY FACTS
| Price | $2,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $416,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| No. Units | 6 | Building Size | 6,571 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1931 |
| Zoning | C4-3A - Regional commercial center located outside of the central business districts | ||
| Price | $2,500,000 |
| Price Per Unit | $416,667 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,571 SF |
| No. Stories | 4 |
| Year Built | 1931 |
| Zoning | C4-3A - Regional commercial center located outside of the central business districts |
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Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (77)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 02566-0048 | Improvements Assessment | $1,392,300 |
| Land Assessment | $44,550 | Total Assessment | $1,436,850 |
PROPERTY TAXES
Parcel Number
02566-0048
Land Assessment
$44,550
Improvements Assessment
$1,392,300
Total Assessment
$1,436,850
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849 Manhattan Ave
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