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33327889
33327890

76 Java Street, Brooklyn, NY 11222 For Sale

MS
NY 10301216098
Marcus & Millichap - Manhattan
SR
NY 10401209332, NY
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan
$3,250,000
47 days on market
Updated 11 days ago

76 Java Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,400
Units 3
Beds 6
Cap Rate 4.80%
NOI $156,880
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 4.90%
Pro-Forma NOI $160,108
Price per SqFt $1,354
Year Built 1931
Buildings 1
Stories 3
Lot Size (SqFt) 1,000
Zoning M1-2/R6B, MX-8
Investment Type Stabilized

Multifamily | 3 Units | $1,083,333/unit

Investment highlights

GUT RENOVATED TURNKEY 100% OCCUPIED 3-FAMILY 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.

PREMIER GREENPOINT WATERFRONT LOCATION 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.

WEST STREET & FRANKLIN STREET RETAIL CORRIDOR 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.

SURROUNDED BY LUXURY DEVELOPMENT & EXCEPTIONALLY LOW TAXES 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.

COMPELLING VALUE - 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.

Listing Contacts

MS
NY 10301216098
Marcus & Millichap - Manhattan
SR
NY 10401209332, NY
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$156,880.00
$13,073.33/mo

Valuation Metrics

0
DSCR
4.83%
Cap Rate
4.83%
ROI

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Additional Information

Name
Mike Salvatico
License
10301216098
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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