59 Newel Street Brooklyn, NY 11222
MULTI_FAMILY - Other - Brooklyn, NY
Property Features for 59 Newel Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 16
- Bathrooms
- 8
- Rooms
- Bedroom 9, Bedroom 8, Bathroom 4, Bathroom 2, Bathroom 7, Bedroom 4, Bedroom 14, Bedroom 3, Bathroom 6, Bedroom 7, Bedroom 16, Bedroom 2, Bedroom 5, Bedroom 13, Bedroom 15, Bedroom 1, Bedroom 11, Bedroom 12, Bathroom 5, Bathroom 1, Bedroom 10, Bedroom 6, Bathroom 3, Bathroom 8
- Interior features
- Entrance Foyer
- Standard status
- Active
- Size
- 8,000 SF
- Lot size
- 0.06 Acres
Utilities
- Heating system
- Hot Water(Heating), Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1928
- Floors in Building
- 4
- Flooring type
- Hardwood, Tile
- Building materials
- Brick
- Architectural style
- Other
Listing agent Malgorzata Pieniadz (718) 502-5141
Listing office TRADEMARKO REALTY INC 68-32 Forest Ave, RIDGEWOOD, NY (718) 502-5141
Listing date Jun 16, 2026
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.
Investment Insights
Based on property information with market context.
Located in Greenpoint, Brooklyn at 59 Newel Street, the property is described as being one block from the G train and close to NYC Ferry. It is also noted as near McGolrick Park and a short distance to McCarren Park. The surrounding area is described as having restaurants, cafes, shops, fitness centers, schools, and everyday conveniences, with easy access to public transportation.
For prospective buyers seeking a stabilized multifamily asset, this configuration of eight units with repeatable two-bedroom layouts may appeal for day-to-day operations and tenant continuity. The full basement can support practical building needs, including storage. With R6B zoning noted, the property is positioned for buyers evaluating an as-is walk-up multifamily holding in a well-connected Greenpoint setting.
Key Highlights
- Four‑story walk‑up multifamily with 8 rent‑stabilized residential units
- Approximately 8,000 SF of interior space on a 25' x 80' building footprint
- R6B zoning with brick construction
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 |
