123 Guernsey Street, Brooklyn, New York, 11222

123 Guernsey Street
Brooklyn NY 11222

Cross street:Norman Avenue

Building

Type:Townhouse
Era:Post-war
Floors:4

Property

Ownership: Income Property
Rooms: 26
Bedrooms: 13 BR
Bathrooms: 16

Financials

Price: $7,250,000
578 Driggs Avenue Brooklyn, NY 11211
Courtesy of Compass

Description

RARE 25’ x 78’ 4-story building (7,800SF + approx 1,900SF cellar) in a picturesque Brooklyn street with endless possibilities. Configured as 13 FREE MARKET rental units (currently being used as 12 units), 123 Guernsey is situated on an idyllic tree-lined street, steps away from McCarren Park, iconic Williamsburg, and trendy Greenpoint. Current Setup: 9 FM Studios 2 FM 1BRs 1 FM 2BRs 4% projected cap rate in AS IS condition (2 units have recently been renovated). It is about 50% occupied and CAN BE DELIVERED VACANT! It’s an easy value-add play to create luxury rentals in a high appreciation neighborhood. For the discerning investor, CONVERT EACH FLOOR INTO CONDO to maximize return with new development condo comps in the $1400/SF range in the area. Side windows give flexibility in terms of bedroom layout and the backyard and roof can provide ample amounts of outdoor space for each unit once converted. INQUIRE ABOUT POTENTIAL DEVELOPMENT OPTIONS Setup available upon request. Showings by appointment. Details: - Lot: 25’ x 100’ - Building Dimensions: 25’ x 78’ - Square footage: 7,800SF + approx 1,900SF cellar (4-stories + cellar)

Amenities

Laundry Room;

  • Laundry Room
  • Voice Intercom
  • Walk-up

Neighborhood

More listings:

RARE 25 x 78 4 story building 7, 800SF approx 1, 900SF cellar in a picturesque Brooklyn street with endless possibilities.

Description

RARE 25’ x 78’ 4-story building (7,800SF + approx 1,900SF cellar) in a picturesque Brooklyn street with endless possibilities. Configured as 13 FREE MARKET rental units (currently being used as 12 units), 123 Guernsey is situated on an idyllic tree-lined street, steps away from McCarren Park, iconic Williamsburg, and trendy Greenpoint. Current Setup: 9 FM Studios 2 FM 1BRs 1 FM 2BRs 4% projected cap rate in AS IS condition (2 units have recently been renovated). It is about 50% occupied and CAN BE DELIVERED VACANT! It’s an easy value-add play to create luxury rentals in a high appreciation neighborhood. For the discerning investor, CONVERT EACH FLOOR INTO CONDO to maximize return with new development condo comps in the $1400/SF range in the area. Side windows give flexibility in terms of bedroom layout and the backyard and roof can provide ample amounts of outdoor space for each unit once converted. INQUIRE ABOUT POTENTIAL DEVELOPMENT OPTIONS Setup available upon request. Showings by appointment. Details: - Lot: 25’ x 100’ - Building Dimensions: 25’ x 78’ - Square footage: 7,800SF + approx 1,900SF cellar (4-stories + cellar)

Amenities

Laundry Room;

  • Laundry Room
  • Voice Intercom
  • Walk-up

Neighborhood

More listings:

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.