Four-Story Walk-Up Multifamily
59 Newel Street, Brooklyn, NY 11222
New
- 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
- 600
- Bedrooms
- 16
- Bathrooms
- 8
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Kitchen, Laundry, Living Room
- Parking features
- Garage
- Exterior features
- Fire Escape, Garden
- Basement Y/N
- 1
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 02683-0007
Taxes and HOA fees
- Tax Annual Amount
- 0
Utilities
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1928
- Year renovated
- 1928
- Floors in Building
- 4
- Flooring type
- Hardwood, Tile
- Building materials
- Brick
- Architectural style
- Other
Listing agent Malgorzata Pieniadz (347) 647-6397
Listing office TRADEMARKO REALTY INC 68-32 Forest Ave, RIDGEWOOD, NY (718) 502-5141
Listing date Jun 16, 2026
MLS# 11835063
Listing URL
Copyright © 2026 My State 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 brick walk‑up built in 1928 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, full bathroom, and separate kitchen
- Full basement for added storage and operational flexibility
- Heating: natural gas with baseboard heat; flooring includes hardwood and tile
- Parking: garage; exterior features include fire escape and garden
Overview
This four-story walk-up multifamily building offers eight rent-stabilized residential units. Each unit is described as having two bedrooms, a bright living room, a full bathroom, and a separate kitchen. The property includes a full basement, which can support additional storage and operational flexibility, and the building is reported to be meticulously maintained and in excellent condition. The structure sits on a 25' x 80' building footprint and is presented as being sold as-is.
The property is located at 59 Newel Street in Brooklyn, NY 11222. Public remarks note it is in Greenpoint and is about one block from the G train, with proximity to NYC Ferry service and nearby parks including McGolrick Park and McCarren Park. The surrounding area is described as having restaurants, cafes, shops, fitness centers, schools, and everyday conveniences, along with easy access to public transportation.
For buyers seeking a stabilized multifamily asset, the building’s unit mix and consistent two-bedroom layouts are designed for straightforward tenant fit across all eight residences. With a full basement included, the property also provides practical space for storage needs. Additional details on finishes, operating expenses, and current income will be available through the private viewing process.
The property is located at 59 Newel Street in Brooklyn, NY 11222. Public remarks note it is in Greenpoint and is about one block from the G train, with proximity to NYC Ferry service and nearby parks including McGolrick Park and McCarren Park. The surrounding area is described as having restaurants, cafes, shops, fitness centers, schools, and everyday conveniences, along with easy access to public transportation.
For buyers seeking a stabilized multifamily asset, the building’s unit mix and consistent two-bedroom layouts are designed for straightforward tenant fit across all eight residences. With a full basement included, the property also provides practical space for storage needs. Additional details on finishes, operating expenses, and current income will be available through the private viewing process.
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
- -73.947424
- Latitude
- 40.724466
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 storage and operating flexibility.
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 brick walk‑up built in 1928 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, full bathroom, and separate kitchen
