Fully Vacant — Blank Slate for Repositioning: All 13 units will be delivered vacant, presenting value-add buyers the opportunity to initiate their business plan immediately upon closing.
DHCR Substantial Rehabilitation Pathway: With 8 Free Market and 5 Rent Stabilized units, a qualified buyer can pursue a substantial rehabilitation application through DHCR to remove the remaining RS units from rent regulation, creating a fully free market asset in one of Brooklyn’s most supply-constrained neighborhoods.
Condo Conversion Opportunity: The existing 4-story walkup structure, generous unit sizes, and prime Greenpoint location make this an ideal candidate for a condo conversion — allowing a developer to capitalize on strong end-user demand and achieve premium per-unit sales pricing.
Attractive Unit Mix for End Users: (3) Studios and (10) 2-Bedroom/1-Bath apartments across 7,964 SF offer a versatile mix that appeals to both rental and condo buyers in Greenpoint’s robust residential market.
Usable Cellar: The cellar provides additional square footage for storage, mechanicals, or potential amenity space — adding flexibility to any renovation or conversion plan.
Prime Greenpoint Location: Situated 4 blocks from the Greenpoint Avenue G-Train, with direct access to Williamsburg and Manhattan, and surrounded by the restaurants, boutiques, and waterfront amenities that make Greenpoint one of North Brooklyn’s most sought-after neighborhoods.