108 Calyer Street
Multifamily | 8 Units | $743,750/unit
Marketing description
Prime Greenpoint Location – Situated in one of Brooklyn’s most desirable neighborhoods, surrounded by a dynamic mix of residential, retail, and cultural amenities. Excellent access to public transit and proximity to Williamsburg and Long Island City. Residents are just steps away from North Brooklyn’s premier 28-acre waterfront park, offering athletic fields, playgrounds, green lawns, and unobstructed Manhattan skyline views.
Investment highlights
• 8-Unit Multifamily Building – Total of 7,020 SF across 8 residential units, offering a mix of fair market and rent-stabilized apartments.
• Price Metrics –
◦ Asking Price: $5,950,000
◦ Price per SF: $848
◦ Price per Unit: $743,750
• Strong In-Place Income –
◦ Current Gross Rent Roll: $436,615 annually
◦ Effective Gross Income: $423,517
◦ Current Cap Rate: 6.0%
• Upside Potential –
◦ Pro Forma Gross Rent Roll: $472,109 annually
◦ Pro Forma Cap Rate: 6.5%
◦ 63% Fair Market Units (5 apartments) averaging $6,529/mo
◦ Tax Class 2B (~$23,893 annually).
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