Four-Story Walk-Up Residential
59 Newel Street, Brooklyn, NY 11222
MULTI_FAMILY - Other - Brooklyn, NY
Property size:
8,000 SFLot size:
0.06 AcresPrice / SF:
$373/SF- Added:
- Jun 16, 2026
- Days on Market:
- 21
- Last Refresh:
- Jul 6 at 6:06 pm
Property Features for 59 Newel Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 16
- Bathrooms
- 8
- Rooms
- Bedroom 15, Bathroom 8, Bathroom 1, Bedroom 10, Bedroom 13, Bedroom 16, Bedroom 3, Bedroom 6, Bathroom 3, Bedroom 14, Bathroom 5, Bedroom 7, Bedroom 1, Bedroom 4, Bedroom 9, Bedroom 8, Bedroom 12, Bathroom 6, Bedroom 2, Bathroom 4, Bathroom 7, Bedroom 11, Bathroom 2, Bedroom 5
- Interior features
- Entrance Foyer
- Standard status
- Active
- Size
- 8,000 SF
- Lot size
- 0.06 Acres
Utilities
- Heating system
- Natural Gas, Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1928
- Floors in Building
- 4
- Flooring type
- Tile, Hardwood
- Building materials
- Brick
- Architectural style
- Other
Listing agent Malgorzata Pieniadz (718) 502-5141
Listing office TRADEMARKO REALTY INC 68-32 Forest Ave, RIDGEWOOD, NY (718) 502-5141
Listing date Jun 16, 2026
MLS# 11835063
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Four‑story walk‑up multifamily with 8 rent‑stabilized residential units
- Approximately 8,000 SF of interior space on a 25' x 80' building footprint
- R6B zoning with brick construction
- Each unit features 2 bedrooms, a bright living room, full bathroom, and a separate kitchen
- Includes a full basement for additional storage and operational flexibility
- Utilities: public water; heating includes natural gas with hot water/baseboard systems
Overview
This four-story walk-up residential building offers eight rent-stabilized units with approximately 8,000 square feet of interior space on a 25' x 80' building footprint. Each unit is described as having two bedrooms, a bright living room, a full bathroom, and a separate kitchen. The property also includes a full basement, providing additional storage and operational flexibility. The building is being sold as-is and is described as meticulously maintained and in excellent condition.
Located in Greenpoint, Brooklyn at 59 Newel Street, the property is described as being one block from the G train and close to NYC Ferry. It is also noted as near McGolrick Park and a short distance to McCarren Park. The surrounding area is described as having restaurants, cafes, shops, fitness centers, schools, and everyday conveniences, with easy access to public transportation.
For prospective buyers seeking a stabilized multifamily asset, this configuration of eight units with repeatable two-bedroom layouts may appeal for day-to-day operations and tenant continuity. The full basement can support practical building needs, including storage. With R6B zoning noted, the property is positioned for buyers evaluating an as-is walk-up multifamily holding in a well-connected Greenpoint setting.
Located in Greenpoint, Brooklyn at 59 Newel Street, the property is described as being one block from the G train and close to NYC Ferry. It is also noted as near McGolrick Park and a short distance to McCarren Park. The surrounding area is described as having restaurants, cafes, shops, fitness centers, schools, and everyday conveniences, with easy access to public transportation.
For prospective buyers seeking a stabilized multifamily asset, this configuration of eight units with repeatable two-bedroom layouts may appeal for day-to-day operations and tenant continuity. The full basement can support practical building needs, including storage. With R6B zoning noted, the property is positioned for buyers evaluating an as-is walk-up multifamily holding in a well-connected Greenpoint setting.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $453.1k | $56.64 |
| − Vacancy | −$9.1k | −$1.13 |
| EGI | $444.1k | $55.51 |
| − OpEx | −$199.8k | −$24.98 |
| NOI | $244.2k | $30.53 |
8,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.49M
$3.05M – $4.07M
NOI $244,232 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.62M
$5.80M – $7.73M
NOI $463,680 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.947424
- Latitude
- 40.724466
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Four-story walk-up with eight rent-stabilized units and full basement on an R6B zoned lot.
Where is this apartment building located?
The property is located at 59 Newel Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,988,000.
What are key features of this property?
This property features: Four‑story walk‑up multifamily with 8 rent‑stabilized residential units; Approximately 8,000 SF of interior space on a 25' x 80' building footprint; R6B zoning with brick construction
