518 Meeker Avenue — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Brooklyn, NY 11222
  • Year built: 2010

Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the sale of 518 Meeker Avenue (the “Property”) a 10-unit, elevatored, mid-rise, multifamily property in Greenpoint. The 9,682 GSF Property is composed of 10 units, including 5 studios (50% of total), 3 one-bedrooms (30% of total), and 1 two-bedroom (10% of total), and 1 three-bedroom (10% of total). With studios and one-bedroom units representing a vast majority of the units, the Property’s unit mix sets the building up to capitalize on the high demand for modern & efficient rentals. 518 Meeker Avenue boasts modern in-unit finishes including marble bathrooms, granite countertops, dishwasher, washer/dryer, and eight of the ten apartments feature private outdoor spaces. There are additional rooms in the basement that could be offered as paid storage spaces for the tenants and there is ample space to create a shared tenant lounge and/or gym. In addition to the apartments with outdoor spaces there is access to a common roof deck with magnificent skyline views of Manhattan and Brooklyn. The property’s Rent Stabilized status expires in 2033 at which point the units will become Free Market upon first turnover. The Property benefits from its proximity to popular establishments including FourFiveSix, Ringolevio, Café MSMN, and Nightshade, with additional food, nightlife, and grocery options available one block away on Graham Avenue. Residents benefit from convenient Manhattan access via the nearby Graham Avenue (L) subway station. Greenpoint's approximately 40,000 residents, predominantly young professionals who prefer renting, create strong rental demand and present significant opportunities for future ownership to capitalize on the thriving rental market.

Market Context

This commercial property in Brooklyn, NY is listed for sale. The building dates to 2010. It has been on the market for 83 days. Compare it against other commercial property listings for sale in Brooklyn, NY — view the full market.

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