26 Linden St
Free-Market 5-Unit Multifamily | Tree-Lined Village of Thomaston
Marketing description
The Asset. 26 Linden Street is a 5-unit brick masonry walk-up on a tree-lined block in the Village of Thomaston — a quiet residential pocket of Great Neck where multifamily product rarely trades. The building delivers 100% occupied with long-tenured renters in place; ownership has run a low-touch, low-vacancy operation for years.
The Numbers.
▸ Asking $3,450,000 against $151,994 in place NOI on $187,800 gross potential income.
▸ Total operating expenses of approximately $30,172 (including $23,772 in annual real estate taxes).
▸ Tenant-paid electric and gas/heat via separate meters; landlord pays water/sewer only.
The Building. 1943 brick masonry construction, 5,097 SF across two floors, configured as three 1BR / 1BA and two 2BR / 1BA layouts. Each unit renovated through the prior ownership cycle: new countertops, stainless appliances and dishwashers in the kitchens; new fixtures, vanities and tile work in the baths; original hardwood floors refinished throughout. Onsite parking, common laundry, and common storage round out the amenity stack.
The Neighborhood.
▸ Village of Thomaston — one of the most supply-constrained corners of the Great Neck rental market.
▸ Great Neck UFSD — #6 Best School District in New York (Niche 2026, A+); Great Neck South Middle School #11 and E.M. Baker Elementary #16 statewide.
▸ 0.4 mi walk to Great Neck LIRR — 30-min express to Penn Station.
▸ 1.2 mi to North Shore University Hospital; 1.8 mi to Long Island Jewish Medical Center.
Renter Demographics. Great Neck reports a median household income of $152,350 and an average household income of $212,440, with more than 30% of households earning over $200,000 annually — a deep, high-income renter demand pool supporting long-tenured, low-turnover occupancy.
The Mark-to-Market Story.
▸ Apt #5 is contracted at $2,400/mo (lease expiring 7/31/2026) versus a $3,000/mo market rent — a +25% standalone reset worth approximately $7,200/year.
▸ Three of the five leases roll by 7/31/2026; the remaining two on 1/31/2027 — concentrated near-term reset window.
Parking Upside. All five onsite parking spots are contracted to tenants at $50/mo — positioned below the Great Neck submarket clearing rate for surface parking. Additional recoverable revenue at lease turn.
The Process. 26 Linden may be acquired individually or alongside the broader 18-unit Eyssimont Realty portfolio (26 & 28 Linden + 37 & 39 Spruce). Portfolio-level pricing, full financials, current leases, and tenant estoppels release under executed NDA. Tours by appointment only.
Investment highlights
▸ 5-unit brick walk-up — 100% occupancy with long-tenured residents in place
▸ Free market rents — no rent control, no rent stabilization — Nassau County asset falls entirely outside NYC's RSL/ETPA framework; full mark-to-market at every turn
▸ ~1 mile to the NYC border, fully in Nassau County — Queens-adjacent renter demand with none of NYC's landlord-tenant jurisdiction or rent regulation
▸ Base rents at market — $3,000/mo per 1BR, $3,500/mo per 2BR, with one below-market unit at $2,400/mo; all units pay $50/mo parking — $187,800/yr total gross
▸ Near-term mark-to-market opportunity — the below-market unit (Apt #5) represents a +25% standalone rent reset at lease renewal
▸ Onsite parking at $50/mo per spot — positioned below market; additional recoverable revenue at lease turn
▸ Asking $3,450,000 — clean, turnkey entry point with no mark-to-market lift required beyond Apt #5
▸ $151,994 in place NOI on $187,800 gross potential income — includes parking income line
▸ Separate electric and gas meters for each tenant — tenant-paid electric and tenant-paid gas/heat; landlord pays water/sewer only
▸ Three 1BR / 1BA + two 2BR / 1BA units across two floors of brick masonry construction (1943)
▸ Renovated interiors throughout — new kitchen counters, stainless appliances, dishwashers; renovated baths; refinished hardwood floors
▸ Onsite parking, common laundry, common storage — full amenity stack supporting premium rents and low turnover
▸ Tree-lined Village of Thomaston block — supply-constrained submarket where multifamily rarely trades
▸ Walk to Great Neck LIRR (0.4 mi) — ~30-min express to Penn Station; access to North Shore medical and retail corridors
▸ Great Neck UFSD — #6 Best School District in New York (Niche 2026, overall grade A+); Great Neck South Middle School #11 and E.M. Baker Elementary #16 among NY public schools in their category
▸ Great Neck median household income $152,350; average household income $212,440 — deep, high-income renter demand pool
▸ Available individually OR with the 18-unit Eyssimont Realty portfolio (26 & 28 Linden + 37 & 39 Spruce); portfolio terms release under NDA
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