Four-Story Multifamily Property in Greenpoint
67 Sutton Street
Greenpoint
Closed at
B24, B32, B43, B48, B62
East River Ferry
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718-395-1877
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of 67 Sutton Street, a large brick multifamily building located in the Greenpoint neighborhood of Brooklyn.
The 6,050 SF, tax-class protected building sits between Nassau and Driggs Avenue and contains 8 residential units. The Sutton Street property is fully occupied and three of the apartments are free market. There is a large backyard garden designated for the free market unit on the ground floor.
Currently, the property has a gross income of ~$157,000 and a net operating income of ~$112,000. The two rent-controlled units provide substantial upside in the case of a vacancy as the units then become rent stabilized with the owner setting a new first rent stabilized rent.
Attractions
67 Sutton Street sits two blocks from the extremely popular McGolrick Park. The property also enjoys close proximity to a wide variety of well-known cafes, bakeries, and restaurants such as Goldie’s Bar, the Palace, Amber Steak House, Variety Coffee Roasters and Green Lane Coffee.
With close proximity to the G & L subway lines, a variety of dependable transportation services are provided to help get you around the borough and stay connected, including multiple bus services and New York’s East River Ferry.