123 Guernsey Street

Greenpoint   |   Norman Avenue & Meserole Avenue

Building for sale
$ 7,250,000
Ownership Rental Property
Floors/Apts 4/8
Status Active
Real Estate Taxes [Per Annum] $ 29,988
Building Type Townhouse
Year Built 1928
ASF/ASM 7,800/725
Listing ID: 81433TH

Property Description

RARE 25’ x 78’ 4-story building (7,800SF + approx 1,900SF cellar) in a picturesque Brooklyn street with endless possibilities.  Configured as 13 FREE MARKET rental units (currently being used as 12 units), 123 Guernsey is situated on an idyllic tree-lined street, steps away from McCarren Park, iconic Williamsburg, and trendy Greenpoint. Current Setup: 9 FM Studios 2 FM 1BRs 1 FM 2BRs 4% projected cap rate in AS IS condition (2 units have recently been renovated). It is about 50% occupied and CAN BE DELIVERED VACANT! It’s an easy value-add play to create luxury rentals in a high appreciation neighborhood. For the discerning investor, CONVERT EACH FLOOR INTO CONDO to maximize return with new development condo comps in the $1400/SF range in the area. Side windows give flexibility in terms of bedroom layout and the backyard and roof can provide ample amounts of outdoor space for each unit once converted. INQUIRE ABOUT POTENTIAL DEVELOPMENT OPTIONS Setup available upon request. Showings by appointment. Details: - Lot: 25’ x 100’ - Building Dimensions: 25’ x 78’ - Square footage: 7,800SF + approx 1,900SF cellar (4-stories + cellar)
RARE 25’ x 78’ 4-story building (7,800SF + approx 1,900SF cellar) in a picturesque Brooklyn street with endless possibilities.  Configured as 13 FREE MARKET rental units (currently being used as 12 units), 123 Guernsey is situated on an idyllic tree-lined street, steps away from McCarren Park, iconic Williamsburg, and trendy Greenpoint. Current Setup: 9 FM Studios 2 FM 1BRs 1 FM 2BRs 4% projected cap rate in AS IS condition (2 units have recently been renovated). It is about 50% occupied and CAN BE DELIVERED VACANT! It’s an easy value-add play to create luxury rentals in a high appreciation neighborhood. For the discerning investor, CONVERT EACH FLOOR INTO CONDO to maximize return with new development condo comps in the $1400/SF range in the area. Side windows give flexibility in terms of bedroom layout and the backyard and roof can provide ample amounts of outdoor space for each unit once converted. INQUIRE ABOUT POTENTIAL DEVELOPMENT OPTIONS Setup available upon request. Showings by appointment. Details: - Lot: 25’ x 100’ - Building Dimensions: 25’ x 78’ - Square footage: 7,800SF + approx 1,900SF cellar (4-stories + cellar)

Listing Courtesy of Compass

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Apartment Features

A/C
123 Guernsey Street Greenpoint Brooklyn NY 11222

Building Details [123 Guernsey Street]

Ownership Rental Property
Service Level Voice Intercom
Access Walk-up
Block/Lot 2617/34
Building Type Townhouse
Year Built 1928
Floors/Apts 4/8

Building Amenities

Laundry Rooms

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Loan Amount

Klara Madlin

License

Licensed Real Estate Broker


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2021 REBNY Listing Service, Inc. All rights reserved. Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.