76 Java Street
Multifamily | 3 Units | $1,083,333/unit
Marketing description
The New York Multifamily Group at Marcus & Millichap is pleased to present 76 Java Street, a rare opportunity to acquire a beautifully renovated multifamily townhouse in the heart of Greenpoint, Brooklyn. Positioned on one of the neighborhood's most charming residential blocks, this turnkey asset offers an ideal blend of lifestyle, income potential, and long-term upside.
Configured as a multifamily property, 76 Java Street provides exceptional flexibility for investors and end-users alike, whether utilized as a pure income-producing asset, owner-occupied residence with supplemental rental income, or luxury townhouse conversion. The property features thoughtfully updated interiors, modern kitchens and baths, in-unit washer/dryers, abundant natural light, and classic Brooklyn townhouse charm throughout.
Located moments from the Greenpoint waterfront, McCarren Park, and the neighborhood's vibrant retail and dining corridors, 76 Java Street benefits from exceptional accessibility and lifestyle appeal. Residents enjoy seamless connectivity to Manhattan via the nearby G Train and India Street NYC Ferry, while transformative nearby developments including Greenpoint Landing, The Huron, West Wharf, and 1 Java Street continue to drive strong residential demand and long-term neighborhood growth. With low carrying costs and strong in-place fundamentals, 76 Java Street represents a compelling opportunity to acquire a turnkey asset in one of Brooklyn's most sought-after waterfront submarkets.
Investment highlights
- A rare opportunity to purchase a fully renovated, three-unit multifamily property in North Brooklyn, one of the most supply-constrained waterfront markets in New York City. Opportunities at this caliber, in this location are very rare.
- Situated steps from the India Street NYC Ferry landing and moments from the G Train, 76 Java Street offers seamless access to Manhattan while sitting at the epicenter of Greenpoint's most coveted waterfront pocket, a location that continues to appreciate with every passing year.
- Located next to West Street and Franklin Street, Greenpoint's most sought-after and rapidly emerging retail corridor. One block over is Franklin Street, which is a comparable location profile to Berry Street and N 6th in Williamsburg or Bleecker Street in the West Village.
- Flanked by over 1,000 new luxury units at Greenpoint Landing, The Huron, West Wharf, and 1 Java Street, the property benefits from powerful demand drivers and continued neighborhood appreciation all with an exceptionally low annual tax bill of just $6,046.
- This fully gut-renovated 3-family is priced at $1,300 per square foot, when unrenovated 3-family properties just a couple blocks away are already trading at $1,100 per square foot. For just $200 more per foot, buyers are getting a turnkey, fully modernized asset with zero renovation risk, no capital expenditure, and immediate income potential from day one.
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