Four-Story Multifamily Property in Greenpoint

67 Sutton Street

Greenpoint

Cross Street Nassau & Driggs Ave
Lot SF 2,550
Total Units 8
Gross SF 6,050
Subways
g
l
Buses
B24, B32, B43, B48, B62
Other Transportation
East River Ferry
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Multifamily 67 Sutton Street, Greenpoint
Matthew Cosentino
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Details

Stories 4
Backyard Space Outdoor Garden

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.

McGolrick Park
Goldie's Bar
The Palace
Amber Steak House
Variety Coffee Roasters
Green Lane Coffee

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