Greenpoint Mixed-Use Corner Property

Highlights:

• Prime Greenpoint Location Prominently situated on the corner of Driggs Avenue and Leonard Street, less than one block from McCarren Park
• 6,500 SF Mixed-Use Building Plus a 500 SF garage
• Vacant Delivery Delivered vacant, providing flexibility for a new owner to execute a comprehensive renovation and repositioning strategy
• Seven-Unit Configuration Six residential units plus one ground-floor retail space, offering a diversified mixed-use income profile
• Strong Income Potential Projected gross income of just under $600,000 annually following renovation, providing a compelling value-add opportunity

Description:

TerraCRG is pleased to exclusively represent ownership in the sale of 279 Driggs Avenue, a value-add mixed-use property prominently located on the corner of Driggs Avenue and Leonard Street in Greenpoint, Brooklyn, less than one block from McCarren Park. The approximately 6,500-square-foot building is complemented by a 500-square-foot garage and will be delivered vacant, offering a new owner the opportunity to reposition the asset and unlock its full income potential.

The property is currently configured as a seven-unit mixed-use building, consisting of six residential units and one ground-floor retail space. The property benefits from tax-class protection. Following renovation, the property is projected to generate just under $600,000 in annual gross income, presenting an attractive opportunity to create value through renovation and repositioning in one of Brooklyn’s most sought-after neighborhoods.