814 Manhattan Ave - Apartments FOR SALE


Brooklyn, NY 11222- Greenpoint
$8,000,000 USD
212-468-5958
814 Manhattan Ave, Brooklyn, NY for Sale
$8,000,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

814 Manhattan Ave
Brooklyn, NY 11222
Greenpoint


HIGHLIGHTS

  • Renovated & 100% Free Market
  • Turnkey with Cash Flow Durability
  • Tax Class 2B Status
  • Appreciating Location

OVERVIEW

Meridian Investment Sales is pleased to exclusively present for sale The Paxton, located at 814 Manhattan Avenue. This mixed-use building is situated at the northeast corner of Calyer Street in the heart of Brooklyn’s Greenpoint neighborhood. Rising four stories, the building includes five free market apartments and one retail space within 6,000 square feet. With fewer than six units, the Property is legally 100% free market with clean status. The Property was built in 1930 and renovated in 1989. In 2024, ownership spent $925,000 to gut-renovate the apartments and common areas creating a modern, boutique living experience fully run on electric power. All units have been thoughtfully designed with wide oak plank flooring, high-end Rocca tiles, state-of-the-art kitchens and appliances, sleek counter tops, in-unit washer/dryers, and individual HVAC systems for heating and cooling. There are four two-bedroom units, one four-bedroom unit, and the ground floor retail is currently occupied by Dime Bank. In addition, the property is tax protected class 2B. This allows investors to benefit from the limited tax increases of 8% per year and no more than 30% over a five-year period.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$1,333 USD /SF

# OF UNITS

6

PRICE/UNIT

$1,333,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,052 SF

ZONING

C4-3

APN/PARCEL ID

02574-0035

ASK ABOUT THIS PROPERTY

Shallini MehraMeridian Investment SalesMore Info
212-468-5958

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Shallini MehraMeridian Investment SalesMore Info
212-468-5958

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