Updated 5 years ago
Off Market
123 Guernsey Street
Greenpoint, Brooklyn | Norman Ave & Meserole Ave
26 Rooms13 Beds16 Baths7,800 Square FeetIncome Property
$7,250,000
floors / apts4 / 8
Lot Size25'x100'
Built Size25' wide
ZoneR6B
Building TypeTownhouse
RE Taxes$29,988
Price Per SF
$929
Outdoor space and views
- Backyard
Building Amenities
- Voice Intercom
- Laundry Room
Property Description for 123 Guernsey Street
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 History for 123 Guernsey Street
Now
12/15/2021
TOM by Daniel Chun
Compass
06/08/2021
$7,250,000
Initial Price by Daniel Chun
Compass
Building Details for 123 Guernsey Street
OwnershipIncome Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1928
Floors/Apts4/8
Transit and Citi Bike
Subway
Nassau Av
0.14 miles
Greenpoint Av
0.43 miles
Citi Bike
N 15 St & Wythe Ave
0.12 miles
Banker St & Meserole Ave
0.14 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: 81433TH
Find home. Discover happiness.