Vacant Three-Family
159 Eckford St Brooklyn, NY 11222
159 Eckford St, Brooklyn, NY, 11222
$3,295,000
For Sale
$3,295,000
Fully vacant three-unit building with additional air rights, offering immediate flexibility for lease-up or repositioning.
Property Size3,450 SF
Price / SF$955.07
Days on Market65
Property Features for 159 Eckford St
General Information
- Standard status
- Active
- Size
- 3,450 SF
- Property subtype
- Multifamily
Listing agency
New York City Office
(718) 475-4369
Listed by
Shaun Riney · License #License(s): NY: 10491208207, NY: 10301215754
(718) 475-4369
Source
Marcusmillichap
Added: May 18 Updated: Jul 21 at 6:35AM Checked: Jul 21 at 6:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New York City Office
Investment Insights
Based on property information with market context.
Marcus & Millichap presents 159 Eckford Street, a fully vacant three-family property in Greenpoint, Brooklyn. The 3,450-square-foot building consists of three residential units and includes approximately 1,304 square feet of additional air rights, creating a value-add framework for a new owner.
The asset is positioned between Nassau and Driggs Avenue within Greenpoint. Delivered 100% vacant, it allows for immediate repositioning options, including market-rate lease-up, live-plus-income conversion, or future redevelopment as described in the offering materials.
The seller notes projected rents ranging from $6,500 to $7,000 per unit to support the proposed lease-up strategy, subject to market conditions.
The asset is positioned between Nassau and Driggs Avenue within Greenpoint. Delivered 100% vacant, it allows for immediate repositioning options, including market-rate lease-up, live-plus-income conversion, or future redevelopment as described in the offering materials.
The seller notes projected rents ranging from $6,500 to $7,000 per unit to support the proposed lease-up strategy, subject to market conditions.
Key Highlights
- Fully vacant 3‑family building at 159 Eckford Street in Greenpoint, Brooklyn, ready for immediate repositioning.
- 3,450 SF building with three residential units.
- Includes approximately 1,304 SF of additional air rights.
Local Financial Insights For Multifamily LT 5
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 | $176.0k | $51.00 |
| − Vacancy | −$3.3k | −$0.97 |
| EGI | $172.6k | $50.03 |
| − OpEx | −$51.8k | −$15.01 |
| NOI | $120.8k | $35.02 |
3,450 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.73M
$1.51M – $2.01M
NOI $120,825 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$1.50M
$1.32M – $1.76M
NOI $105,325 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$2.86M
$2.50M – $3.33M
NOI $199,962 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully vacant three-unit building with additional air rights, offering immediate flexibility for lease-up or repositioning.
Where is this triplex located?
The property is located at 159 Eckford St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: Fully vacant 3‑family building at 159 Eckford Street in Greenpoint, Brooklyn, ready for immediate repositioning.; 3,450 SF building with three residential units.; Includes approximately 1,304 SF of additional air rights.
