29 Greenpoint Avenue, Brooklyn, NY 11222
Local realty services provided by:CENTURY 21 Awaye Realty
29 Greenpoint Avenue,Brooklyn, NY 11222
$3,850,000
- 5 Beds
- 3 Baths
- 3,620 sq. ft.
- Multi-family
- Active
Listed by: nathan m horne, marc a dimov
Office: compass
MLS#:RLS20093821
Source:NY_REBNY
Price summary
- Price:$3,850,000
- Price per sq. ft.:$1,063.54
About this home
Welcome to 29 Greenpoint Avenue, a boutique mixed-use property located in the heart of Greenpoint, one of the strongest long-term appreciation corridors in New York City. Positioned steps from Transmitter Park, the NYC Ferry, and the multi-billion-dollar Greenpoint Landing redevelopment, the property is surrounded by thousands of newly developed and planned residential units and continued large-scale investment throughout the neighborhood.
The property is fully occupied and consists of a long-term retail tenant occupying the ground floor and cellar, along with two floor-through residential apartments above. Current in-place income exceeds $250k annually with projected upside to approximately $300k based on market rents. The retail lease includes annual rent escalations and extends through 2033 with a renewal option, while the residential units are fully free-market and exempt from New York’s Good Cause Eviction framework, offering immediate near-term rental upside. Existing rents remain below nearby market levels, with area residential walk-up product achieving approximately $90/SF and nearby retail rents approaching or exceeding $100/SF in prime Greenpoint locations. The property also benefits from Protected Tax Class 1 status with real estate taxes of only approximately $9,201 annually.
In addition to stable cash flow and future rental growth, the property also offers meaningful long-term expansion and redevelopment potential. The site currently contains approximately 2,230 additional buildable square feet as-of-right, or up to approximately 3,223 buildable square feet under the current UAP zoning framework, creating a rare opportunity to combine durable in-place income with future development optionality in one of Brooklyn’s most rapidly appreciating neighborhoods....
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Home facts
- Year built:1925
- Listing ID #:RLS20093821
- Added:1 day(s) ago
- Updated:May 28, 2026 at 12:53 AM
Rooms and interior
- Bedrooms:5
- Total bathrooms:3
- Full bathrooms:3
- Rooms Total:12
- Living area:3,620 sq. ft.
Structure and exterior
- Year built:1925
- Building area:3,620 sq. ft.
Finances and disclosures
- Price:$3,850,000
- Price per sq. ft.:$1,063.54
- Tax amount:$9,204
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