USANYBrooklynGreenpoint29 Greenpoint Ave

29 Greenpoint Ave, Brooklyn, NY

Name: 29 Greenpoint Ave, For Sale in Brooklyn - Zoocasa
Brand: Compass
SKU: RLS20093821
Price: 3850000 USD

House

For Sale

Listed price in listed location currency (USD).

$3,850,000

530

MLS® RLS20093821

Overview

Key Facts

Type Multi Family

Levels Residential

Size 3620 sqft

Garage

Taxes $9,204

Days Active 55

Lot Size 1947 SF

Approx. Age 1925

Avg. Price Per Sqft $1,063

MLS® Number RLS20093821

Property Address: 29 Greenpoint Ave, Brooklyn, NY, 11222-1514

Average square foot calculated using Size range provided by listing agent.

Description

Welcome to 29 Greenpoint Avenue, a boutique mixed-use property located in the heart of Greenpoint, one of the strongest long-term appreciation corridors in New York City. Positioned steps from Transmitter Park, the NYC Ferry, and the multi-billion-dollar Greenpoint Landing redevelopment, the property is surrounded by thousands of newly developed and planned residential units and continued large-scale investment throughout the neighborhood. The property is fully occupied and consists of a long-term retail tenant occupying the ground floor and cellar, along with two floor-through residential apartments above. Current in-place income exceeds $250k annually with projected upside to approximately $300k based on market rents. The retail lease includes annual rent escalations and extends through 2033 with a renewal option, while the residential units are fully free-market and exempt from New York’s Good Cause Eviction framework, offering immediate near-term rental upside. Existing rents remain below nearby market levels, with area residential walk-up product achieving approximately $90/SF and nearby retail rents approaching or exceeding $100/SF in prime Greenpoint locations. The property also benefits from Protected Tax Class 1 status with real estate taxes of only approximately $9, 201 annually. In addition to stable cash flow and future rental growth, the property also offers meaningful long-term expansion and redevelopment potential. The site currently contains approximately 2, 230 additional buildable square feet as-of-right, or up to approximately 3, 223 buildable square feet under the current UAP zoning framework, creating a rare opportunity to combine durable in-place income with future development optionality in one of Brooklyn’s most rapidly appreciating neighborhoods.

MLS® NumberRLS20093821

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1925

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Map

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