Four-Story Walk-Up Multifamily
59 Newel Street, Brooklyn, NY 11222
New
MULTI_FAMILY - Brooklyn, NY
Property size:
8,000 SFLot size:
0.06 AcresPrice / SF:
$373/SF- Added:
- Jun 16, 2026
- Days on Market:
- 5
- Last Refresh:
- Jun 20 at 9:06 am
Property Features for 59 Newel Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6B
- Rooms
- Basement
- Parking features
- Off Street
- Basement
- Full, Storage Space
- Appliances
- Gas Cooktop, Gas Oven, Refrigerator, Gas Water Heater
- Standard status
- Active
- APN
- 02683-0007
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 18531
Utilities
- Utilities
- Phone Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1928
- Floors in Building
- 4
- Number of units
- 8
- Flooring type
- Tile - Ceramic, Hardwood
- Building materials
- Brick
Listing agent Malgorzata A. Pieniadz CBR (347) 647-6397
Listing office Trademarko Realty Inc 6832 Forest Ave, Ridgewood, NY (718) 502-5141
Listing date Jun 16, 2026
MLS# 1014129
Copyright © 2026 OneKey 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 with 8 rent‑stabilized residential units
- Approximately 8,000 SF of interior space on a 25' x 80' building footprint
- Each unit offers 2 bedrooms, a bright living room, a full bathroom, and a separate kitchen
- Full basement provides additional storage and operational flexibility
- R6B zoning; brick construction; year built 1928
- Utilities: public water and public sewer; natural gas heating; off‑street parking
Overview
This four-story walk-up multifamily building is set on a 25' x 80' footprint and includes approximately 8,000 square feet of interior space. The property contains eight residential units, each arranged with two bedrooms, a bright living room, a full bathroom, and a separate kitchen. A full basement provides additional storage and supporting space for building operations. The offering is being sold as-is.
Located in Greenpoint, the building is described as being about one block from the G train, with access to NYC Ferry nearby. It is also positioned close to McGolrick Park and within a short distance of McCarren Park, with restaurants, shops, fitness centers, schools, and everyday conveniences in the surrounding area. Public transportation access is highlighted as a key part of the location.
For buyers and operators seeking an 8-unit residential income property, this configuration offers a consistent unit mix centered on two-bedroom layouts and in-unit separation of kitchen and living space. The presence of a full basement may be valuable for storage and practical day-to-day management. With R6B zoning noted for the site and the building maintained in excellent condition per the remarks, the property presents a straightforward acquisition opportunity for a stabilized multifamily operator willing to take ownership on an as-is basis.
Located in Greenpoint, the building is described as being about one block from the G train, with access to NYC Ferry nearby. It is also positioned close to McGolrick Park and within a short distance of McCarren Park, with restaurants, shops, fitness centers, schools, and everyday conveniences in the surrounding area. Public transportation access is highlighted as a key part of the location.
For buyers and operators seeking an 8-unit residential income property, this configuration offers a consistent unit mix centered on two-bedroom layouts and in-unit separation of kitchen and living space. The presence of a full basement may be valuable for storage and practical day-to-day management. With R6B zoning noted for the site and the building maintained in excellent condition per the remarks, the property presents a straightforward acquisition opportunity for a stabilized multifamily operator willing to take ownership on an as-is basis.
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
- -73.9456
- Latitude
- 40.7272
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Four-story walk-up with eight rent-stabilized two-bedroom units and a full basement for added storage and operations.
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 with 8 rent‑stabilized residential units; Approximately 8,000 SF of interior space on a 25' x 80' building footprint; Each unit offers 2 bedrooms, a bright living room, a full bathroom, and a separate kitchen
