Updated 10 years ago
Sold
538 Graham Ave
Greenpoint, Brooklyn | Broome Street & Engert Ave
40 Rooms14 Beds8 Baths7,838 Square FeetRental Property
$4,000,000
floors / apts4 / 8
Lot Size38'x94'
Built Size37'x53'
ZoneR6B
Building TypeTownhouse
RE Taxes$11,017
Price Per SF
$510
This property was sold for $3,960,000 on 01/15/15.
Building Amenities
- Voice Intercom
Property Description for 538 Graham Ave
Located two short blocks from McCarren Park on the border of Williamsburg and Greenpoint, this 4 story multifamily brick building is centrally located with close proximity to the G and L trains as well as the Brooklyn Queens Expressway. Being on the corner of Graham and Engert Avenue, each of the 8 fully occupied residences get great light from the buildings three exposures. All of the 7 free market units have been recently renovated with new kitchens, updated bathrooms, and recessed lighting. The building was converted to gas 5 years ago at the same time that the boilers were replaced. There are 3 one-bedroom units, 4 two-bedroom units, and 1 three-bedroom unit on the top floor which is rent stabilized. As demand continues to climb in the Williamsburg-Greenpoint neighborhood, free market rents can be raised upon lease renewal to match the rapidly appreciating market.
Showings by appointment only beginning Friday the 13th at 1pm!
Financials:
Expenses:
Taxes $ 11, 017.52
Insurance $ 4, 984.00
Heating $ 5, 361.00
Electric $ 756.00
Water/Sewage $ 5, 800.00
Total Annual Expenses: $27,918
Total Annual Income: $190,752
Net Operating Income: $162,834
Showings by appointment only beginning Friday the 13th at 1pm!
Financials:
Expenses:
Taxes $ 11, 017.52
Insurance $ 4, 984.00
Heating $ 5, 361.00
Electric $ 756.00
Water/Sewage $ 5, 800.00
Total Annual Expenses: $27,918
Total Annual Income: $190,752
Net Operating Income: $162,834
Building Details for 538 Graham Ave
OwnershipRental Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1920
Floors/Apts4/8
Transit and Citi Bike
Subway
Nassau Av
0.32 miles
Graham Av
0.49 miles
Citi Bike
Engert Ave & McGuinness Blvd
0.07 miles
Manhattan Ave & Leonard St
0.09 miles
Greenpoint | Brooklyn
Quick Profile
Go north, not west. Greenpoint’s placement at the furthermost tip of Brooklyn makes it peak “North Brooklyn” territory. Bordered by the East River, its geographical location has long made Greenpoint integral to maritime activity, present day ferry service to Manhattan included. With Williamsburg to the south and Long Island City to the north, Greenpoint’s “hip factor” often experiences crossover traffic from these areas.
Particularly bustling on the weekend, the edge of McCarren Park at Bedford Avenue and Lorimer Street filters out into prime Greenpoint, where brunch has become a hallowed tradition for newer and longtime residents alike. Bars and restaurants such as Spritzenhaus and Five Leaves also provide close proximity to a post-dining jaunt in the park.
As the neighborhood continues to grow and develop, the old world feel of a tradition of Polish immigrants has commingled with the arrival of enterprising millennials that have become a part of the go-getting spirit of the neighborhood. Filled with small coffee shops, vintage boutiques and award-winning restaurants (as well as tailored bars like TØRST offering up specialty beers on tap), Greenpoint truly is the jewel of North Brooklyn.
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.
OLR ID: 54648TH
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