Modern Multifamily Rental
For Sale
$18,000,000
299 Mcguinness Boulevard, Brooklyn, NY 11222
Three contiguous, 5-story multifamily buildings contain 10 apartments each with in-unit washer/dryers and private balconies.
Property Size28,980 SF
Price / SF$621.12
Days on Market199
Property Features for 299 Mcguinness Boulevard
General Information
Standard status
Active
Size
28,980 SF
Property subtype
Commercial
Additional Details
Multifamily Units
30
Taxes and HOA fees
Annual Taxes
$256,596
Amenities
in-unit washer/dryers
private balconies
bike storage
Central air
Building Details
Year Built
2009
Stories
5
Units
10
Listing Agency:
Brooklyn Heights
Listed By:
Eric Volpe · License #10301219675
(646) 400-2078
Source:
Corcoran
Added: Apr 11
Changed: Oct 25
Last Checked: Oct 24 at 6:26PM
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 Brooklyn Heights
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Investment Insights
Based on property information with market context.
A modern multifamily property offering three contiguous, 5-story buildings comprising 10 apartments each. The buildings were constructed in 2009 and collectively provide 28,980 square feet of residential space. Apartment layouts include a mix of 2, 3, 4, 5, and 6 bedroom residences, with in-unit washer/dryers, private balconies, and bike storage.
The property is located on McGuinness Boulevard in Greenpoint, Brooklyn, near Manhattan Avenue and a range of shops, cafés, and restaurants. It is also approximately two blocks from the Greenpoint Avenue G train station.
The offering includes a 421A tax abatement through 2028.
The property is located on McGuinness Boulevard in Greenpoint, Brooklyn, near Manhattan Avenue and a range of shops, cafés, and restaurants. It is also approximately two blocks from the Greenpoint Avenue G train station.
The offering includes a 421A tax abatement through 2028.
Key Highlights
- Three contiguous 5‑story multifamily buildings (287‑293‑299 McGuinness Blvd) with 10 apartments each for 30 total apartments
- Total building size 28,980 SF; built in 2009
- Apartment features include in‑unit washer/dryers and private balconies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$884,729
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,694,580
$17.7M
Cap Rate 7%
$12,638,986
$12.6M
Cap Rate 9%
$9,830,322
$9.8M
Market Conditions
NOI Build-Up for 28,980 SF
Gross rent
$1.64M $56.64/SF
− Vacancy
−$32.8K −$1.13/SF
EGI
$1.61M $55.51/SF
− OpEx
−$723.9K −$24.98/SF
NOI
$884.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,694,580
Cap Rate 7%
$12,638,986
Cap Rate 9%
$9,830,322
Alternative Uses
Best Use
Apartment 5plus
$12.64M
$11.06M – $14.75M
NOI $884,729 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.00M
$21.00M – $27.99M
NOI $1,679,681 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
30
Residential units
Location Intelligence
Trade Area within ½ mile
5,216
Businesses Nearby
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Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three contiguous, 5-story multifamily buildings contain 10 apartments each with in-unit washer/dryers and private balconies.
Where is this apartment building located?
The property is located at 299 Mcguinness Boulevard Brooklyn, NY.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: Three contiguous 5‑story multifamily buildings (287‑293‑299 McGuinness Blvd) with 10 apartments each for 30 total apartments; Total building size 28,980 SF; built in 2009; Apartment features include in‑unit washer/dryers and private balconies
