46 Sutton St Brooklyn, NY 11222

Property Details for 46 Sutton St

Year built

1937

Property size

4,500 SF

Property type

Commercial real estate

Description

This exceptional value-add investment opportunity presents a renovated six-unit multifamily building situated in the desirable Greenpoint neighborhood of Brooklyn, New York. Located just two blocks from McGolrick Park and a half-mile from the Nassau Avenue G train, this property enjoys a prime location surrounded by a vibrant mix of shops, restaurants, boutiques, and bars. The building, constructed in 1937, boasts 4,500 square feet on a 2,500 square foot lot (25 x 100 ft), with building dimensions of 25 x 60 ft. It features six units, each a two-bedroom, one-bathroom apartment (with one exception: unit #2L is a railroad-style apartment in livable condition). All units include stainless steel appliances, hardwood floors, and high ceilings. The property also includes a beautiful large backyard and a full basement. Significant recent improvements include a roof replacement seven years ago, new electrical systems, new windows, a brand-new back wall, and brand-new front doors. Two units will be delivered vacant at closing, presenting immediate upside potential. The property is zoned R6B with a FAR of 1.80 and a maximum FAR of 2. Annual property taxes are $10,705. The asking price is $2,250,000, representing $500 per square foot and $375,000 per unit. This is a rare opportunity to acquire a well-maintained, high-income-producing multifamily property in a rapidly appreciating Brooklyn neighborhood.