NEW YORK, March 15, 2017 – Cushman & Wakefield has been retained on an exclusive basis to sell an eight-unit apartment building at 67 Sutton Street, located between Driggs and Nassau Avenues, in Greenpoint, Brooklyn. The asking price is $3,750,000.
“This is a great opportunity to acquire a multifamily building with significant long-term upside in a neighborhood set to spur, especially when the L train is under renovation,” said Cushman & Wakefield’s James Nelson who is exclusively marketing this property with Mitchell Levine and Brendan Maddigan.
“Considering the growth Greenpoint is currently experiencing, a rarely offered large brick building such as 67 Sutton Street is a terrific long term investment,” said Brendan Maddigan.
The building contains approximately 6,548 square feet and consists of eight two-bedroom, “railroad” apartments, one of which has an in-unit washer and dryer and has exclusive access to the rear yard which commands a premium rent. Of the eight units, three are rent-stabilized, two are rent-controlled, and three are free-market. The common areas of the building have been recently upgraded and the unused lower level mechanical areas could allow for duplexed units in the future. The three free-market units were recently gut renovated and feature new hardwood floors, stainless steel appliances, recessed LED lighting, and ample storage.
“Current ownership has done significant apartment upgrades to the fair market units, leaving a potential buyer additional upside on the remaining rent-regulated units,” added James Nelson.
67 Sutton Street is located less than two blocks from McGolrick Park and neighborhood attractions like Greenpoint Heights, Little Dokebi, Variety Coffee, and Selamat Pagi. Additionally, the property is within proximity to the Nassau Avenue G train station offering direct access to BedStuy and Downtown Brooklyn or an easy transfer to the 7 train for service into Midtown Manhattan.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.