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57 Driggs Ave, Greenpoint NY 11222

$ 3,600,000

57 Driggs Ave,

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Property Id : 18761
Price: $ 3,600,000
Bedrooms: 6
Bathrooms: 6
Structure Type: Brick
Floors No: 1

About this property

Mixed-use 4 Family Corner Building in Prime Greenpoint!

*Or buy 2 Buildings for $6.4M (55 & 57 Driggs Ave)

This solid 3 story corner GEM offers 3500 residential SF, 2500 SF of retail space and a semi finished 1750 SF basement.
This is a legal 4 family with store.
Store: Vacant (projected rent $10,000/mo)
Apt 2R 2 Bed 2 Bath – $3200
Apt 2F 1 Bed 1 Bath – $2200
Apt 3R 2 Bed 2 Bath – $4000
Apt 3F 1 bed 1 Bath – $2000
                                 = $11,400/ mo
                         *All apartments have been renovated.*
**Building can be delivered vacant.**
Expenses (Yr.):
Taxes: $16,000
Insurance: $3000
Electric: $600
Heat & Water: Tenants pay all utilities.
Each unit has it’s own boiler and furnace.
Projected NOI: $237,200
Retail per SF rents around $35 – $50 per foot
Larger than one thinks, Greenpoint is actually three or four different neighborhoods, all of which have distinct differences and commonalities. Near McCarren Park, the 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 Street, eateries draw artists, writers, and musicians as well as many of the architects and graphic designers who call the Greenpoint home. Clothing and furniture boutiques are most prevalent here.
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.
This is a Great Investment!

Amenities and Features

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