287 Mcguinness Blvd Brooklyn, NY 11222-6246
- Apartment buildings
- 8,724 SF
- 0.05 lot acres
Mar 04, 2025
Current Use by Public Records
- Apartment buildings
Property Details for 287 Mcguinness Blvd
- Year built
- 2009
- Lot size
- 0.05 lot acres
- Property size
- 8,724 SF
- Zone code
- R6A
- Property type
- Apartment buildings
- APN
- 02541-0036
- APU
- 25410036
Description
This exceptional multifamily investment opportunity consists of three adjacent buildings located at 287, 293, and 299 McGuinness Boulevard in Brooklyn, New York, 11222. The portfolio comprises a total of 30 units across three 15-story buildings, encompassing 31,023 square feet on a 7,000 square foot lot. Each building offers a mix of two to six-bedroom apartments, all equipped with in-unit washer/dryers. The property boasts a strong net operating income (NOI) of $1,252,929, resulting in an attractive 7.83% capitalization rate. The asking price is $16,000,000, translating to $516 per square foot and $533,333 per unit. Currently zoned R6A, the property benefits from a 421a tax abatement, expiring in 2027. Its prime location offers convenient access to local amenities, including restaurants, nightlife, parks, and public transportation, being just 1.5 blocks from the Greenpoint Avenue G train station. This is an ideal investment for those seeking a well-maintained, high-performing multifamily portfolio in a rapidly developing Brooklyn neighborhood. The property is classified as Tax Class 2B.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $9,380,000
- ML approach
- $7,105,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9522
- Latitude
- 40.732
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
