553 Morgan Ave
Brooklyn, NY 11222
Greenpoint
HIGHLIGHTS
- Value-Add Opportunity: There is significant upside in the rent roll that can be unlocked via renovations.
- Quiet Residential Block: Situated on a quiet tree-lined residential block.
- Fully Free-Market: The property is fully free market, allowing future ownership to capitalize on neighborhood improvement.
- Available Air Rights: There are roughly 725 SF of unused air rights for future expansion, development, or disposition.
- Protected Tax Class: Tax Class 1 limits tax increase to no more than 6% per year or 20% over 5 years.
- Neighborhood Amenities: Located within a few blocks of McGolrick Park, retail on Nassau and Driggs Avenues, and N. Brooklyn nightlife.
FOR SALE DETAILS
PRICE
$2,225,000 USD
PRICE/SF
$639 USD /SF
# OF UNITS
3
PRICE/UNIT
$741,667
CAP RATE
Request Cap Rate
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1901
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.05 AC
LAND SF
2,093 SF
ZONING
R6B
APN/PARCEL ID
02690-0039
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718-701-5129
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718-701-5129
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