$5,250,000
Updated 11 years ago
Off Market
1026-1030 Manhattan Ave
Greenpoint, Brooklyn | Freeman Street & Green Street
Mixed Use
$5,250,000
floors / apts3 / 7
Building TypeLow-Rise
RE Taxes$15,424
Building Amenities
- Voice Intercom
Property Description for 1026-1030 Manhattan Ave
The subject property is a three-story mixed-use building, consisting of seven apartments and two stores. All of the current tenants are on a month-to-month basis.As such, the property is primed to be a redevelopment site on the major retail corridor in Greenpoint, Brooklyn.The two tax lots combine for a total of 4,375 SF with 50’of frontage on Manhattan Avenue and allow for a total of 15,094 BSF of mixed-use market rate development or 20,125 under the inclusionary housing program. For a developer looking to take advantage of various tax-saving incentive programs you have the option to improve the current structure and likely receive the benefit of a 15-year J-51 tax exemption or you may choose to tear down and rebuild under the inclusionary program in which you may receive the benefit of a 25-year 421a tax exemption. Greenpoint has over 5,000 new residential units in the queue for development which should contribute to the overall thriving dynamic of the neighborhood and increase the demand of properties with a retail component.
Listing History for 1026-1030 Manhattan Ave
Now
11/30/2015
POM by Stephen Palmese
Cushman & Wakefield
09/01/2015
Exclusive Expired by Stephen Palmese
Cushman & Wakefield
Building Details for 1026-1030 Manhattan Ave
OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1928
Floors/Apts3/7
Transit and Citi Bike
Subway
Greenpoint Av
0.19 miles
Citi Bike
Eagle St & Manhattan Ave
0.08 miles
India St & Manhattan Ave
0.12 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: 57269TH
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