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977 Manhattan Avenue - Greenpoint, New York

Property Details:
  • 977 Manhattan Avenue - Greenpoint, New York
  • Price: $14,250,000
  • Neighborhood: Greenpoint
  • Commercial
  • Approximate Sq. Feet: 14,300
  • Listing ID: 2994692

977 Manhattan Avenue - Greenpoint, New York

977 Manhattan Avenue is a newly constructed investment property comprised of 14 spacious one-bedroom apartments and two-thousand (2,000) square feet of prime commercial space. The property is ideally located in Greenpoint, Brooklyn, which has been on the forefront of growth and expansion for the last couple of years. The building is recognized as a Green Certified building by the City of New York; thoughtfully designed with modern and durable finishes and encompasses energy efficient features that benefit the owner and residents alike. Features include solar panels, bike room, central air and heat, laundry facilities in the cellar, video intercoms, in-ceiling speakers, storage, and outdoor space for most units. 95% complete with a projected cap rate of 4.2% OR a net operating income of approx. $600,000. Please inquire for full set up.

A true waterfront neighborhood, Greenpoint has everything an area needs to keep growing, appreciating in value, and attracting new residents.

Larger than one thinks, Greenpoint is actually three or four different neighborhoods, all of which have distinct differences and commonalities. Near McCarren Park, the young professional quotient runs high. So do the new restaurants, outdoor cafes, and bars. Closer to the water, new developments take over. But so does chic retail. All along Franklin St., eateries draw artists, writers, and musicians as well as many of the architects and graphic designers who call Greenpoint home.

High-tech companies are coming to the waterfront, purchasing or renting former industrial warehouses for their New York or global headquarters. The ferry shuttles residents back and forth from Manhattan and up and down the East River.

Manhattan Avenue is retail strip reminiscent of Sixth Avenue from 30 years ago. Mom and pop shops line up next to boutiques and beauty parlors next to butchers with Polish sausages hanging from the ceilings, indicative of the neighborhood's ethnic past. Peter Pan Donuts sells the top-rated cream donut in the city in an old-fashioned coffee shop with curved countertops.
Quiet streets off and around Monsignor McGolrick Park define the neighborhood's northern edge. Mansions, tall structures with eagles and other figurines, mark the structures, all of which have large stairwells leading up to the front door and outdoor terraces. Smart investors or people looking to make a life in a strong neighborhood are always looking in Greenpoint.


This listing courtesy of Douglas Elliman

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2017 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. CalBRE# 01947727