59 Newel St, Brooklyn, NY 11222
Well-maintained four-story walk-up offers eight rent-stabilized two-bedroom apartments plus a full basement for storage.
- Added:
- Jun 19, 2026
- Days on Market:
- 7
- Last Refresh:
- Jun 21 at 2:10 am
Property Features for 59 Newel St
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1928
Listing office (347) 647-6397
Listing date Jun 19, 2026
Source Elliman
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 Malgorzata A. Pieniadz CBR
HighLights
- 1928‑built, four‑story walk‑up with 8 rent‑stabilized residential units
- Approx. 8,000 SF of interior space on a 25' x 80' building footprint (R6B zoning)
- Each unit features 2 bedrooms, a bright living room, full bathroom, and separate kitchen
- Full basement provides additional storage and operational flexibility
- Currently described as being sold as‑is
Overview
Located in Greenpoint, the building is about one block from the G train and close to the NYC ferry. It is near McGolrick Park and within a short distance of McCarren Park, with surrounding amenities that include restaurants, shops, fitness centers, schools, and everyday conveniences.
With eight residential units and a consistent 2-bedroom layout across the building, this offering can fit buyers and operators looking for a stabilized multifamily asset in a well-established Brooklyn location. Zoning is identified as R6B, supporting multifamily development consistent with local regulations. BikeScore, walkScore, and transitScore indicate strong non-vehicle access for future residents and tenants.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9456
- Latitude
- 40.7272
