Property Details for 132 Calyer St

Year built

1928

Property size

5,625 SF

Property type

Residential income homes

Description

Exceptional Greenpoint investment opportunity encompassing two buildings: a three-family home and a stunning three-story single-family residence. The three-family home, meticulously maintained and updated in 2019/2020, boasts new siding, insulation, windows, and a new front door. It features one 1-bedroom/1-bathroom unit on the first floor and two 2-bedroom/1-bathroom units on the upper floors, with significant expansion potential. The clean basement offers two means of egress and a 7-foot high ceiling. The single-family home, completely renovated in 2008, showcases top-of-the-line finishes, including a chef's kitchen with granite countertops and a large island, perfect for entertaining. The second floor offers two large bedrooms with built-in closets, a laundry room, and a full bath. The finished basement includes a full bar, media/living room with a fireplace, one bedroom, and a full bath, along with access to an outdoor patio with a jacuzzi. This property presents a rare chance to acquire a high-performing multifamily investment in a prime Greenpoint location, offering both strong rental income and the potential for condo conversion. The combined square footage is 5,625, with a current NOI of $108,000 and a pro-forma NOI of $322,286. Built in 1928, with renovations completed in 2008, the property is classified as Class A and sits on a R6B zoned lot. The asking price is $3,999,999, representing a 2.70% cap rate and a pro-forma cap rate of 8.06%. This is a truly unique investment gem.

Location Insight

City

New York

County

New York

State

New York

Longitude

-73.955342702327

Latitude

40.727455588647