Greenpoint Multifamily Building For
340 Mcguinness Boulevard, Brooklyn, NY 11222
Six-unit renovated building with backyard and income potential.
Type:Commercial/Industrial
Property size:
5,200 SFPrice / SF:
$451/SF- Added:
- Mar 12, 2026
- Days on Market:
- 73
- Last Refresh:
- Apr 6 at 3:49 am
Property Features for 340 Mcguinness Boulevard
General Information
- Standard status
- Active
- Size
- 5,200 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1930
Listing agent Margaret Goworek License #10401344287
Listing office Oxford Property Group USA (212) 300-6412
Listing date Mar 12, 2026
Source Exitrealty
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 Oxford Property Group USA
HighLights
- Yearly income: $134,617 from 6 rent stabilized units
- Recently renovated apartments and basement with wood floors, granite, and stone tiles
- New roof (2022), new water heater (2024), and new gas heater (2024)
- Beautiful backyard with garden, stone tiles, and granite steps
- Security system: 8 surveillance cameras inside and outside
- Each unit features 2 bedrooms, a full bath, and an eat‑in kitchen with windows
Overview
This Greenpoint building features six units, each with two bedrooms, a full bath, and an eat-in kitchen. All apartments and the basement have been renovated with wood floors, granite, and stone tiles. Kitchens and baths have windows. The property includes a backyard with a garden, stone tiles, and granite steps to the basement. A new roof was installed in 2022, and new water and gas heaters were installed in 2024. The building is equipped with eight surveillance cameras inside and outside. The basement has six rooms plus a utility room. The building is in great condition, with six rent-stabilized units. The building size is 5200 square feet. The total yearly income is $134,617, presenting growth opportunities.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.76M
NOI $158,751 @ 9.00% cap · cautious / downside scenario
Moderate
$2.27M
NOI $158,751 @ 7.00% cap · market / base-case scenario
Aggressive
$3.18M
NOI $158,751 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $294.5k | $56.64 |
| − Vacancy | −$5.9k | −$1.13 |
| EGI | $288.6k | $55.51 |
| − OpEx | −$129.9k | −$24.98 |
| NOI | $158.8k | $30.53 |
5,200 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,751 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.31M
$3.77M – $5.02M
NOI $301,392 @ 7.0% cap · market cap 12.83%
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
- -73.952
- Latitude
- 40.7342
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FAQs
What type of property is this?
Apartment building - Six-unit renovated building with backyard and income potential.
Where is this apartment building located?
The property is located at 340 Mcguinness Boulevard Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Yearly income: $134,617 from 6 rent stabilized units; Recently renovated apartments and basement with wood floors, granite, and stone tiles; New roof (2022), new water heater (2024), and new gas heater (2024)
