NY > Brooklyn > Greenpoint
Brooklyn, NY 11222,199 Java Street
Brooklyn, NY 11222,199 Java Street
Brooklyn, NY 11222,199 Java Street
33
See all 33 photos
Listing Courtesy of Compass
$3,999,000
Est. payment /mo
Save
13 Beds
11 Baths
7,200 SqFt
New

199 Java Street Brooklyn, NY 11222

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Sat
27
Sep
Sun
28
Sep
Mon
29
Sep
Anthony Guerriero

Anthony Guerriero

+1(646) 376-8752

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,200 sqft

Price per Sqft $555

Subdivision Greenpoint

MLS Listing ID RLS20051367

Style Walk-Up

Bedrooms 13

Half Baths 2

HOA Y/N Yes

Year Built 1931

Annual Tax Amount $13,860

Property Sub-Type Multi Family

Property Description

The opportunity:
· Live With Income: Take up residence in a pre-war, multi-family townhouse with significant recurring rental income in Greenpoint, Brooklyn for $3.99M.

· Live in a newly built-out duplex apartment in one of Brooklyn's hottest areas for below-market prices, and amass equity quickly with passive rental income. The owner's unit build-out can be fully customized.


The property:
Located on a tree-lined street in Greenpoint, Brooklyn, 199 Java Street is a 7,200 sq ft, 6-family brick-and-stone structure built in 1931. Spanning 25' by 80' on a 25' X 100' lot, the handsome building has 6 rental units.


Purchase Economics:
Take up residence in a brand-new 1800 sq ft duplex apartment with exclusive garden access, and receive an estimated $181,000 in net income from five rental units.

Assuming a conservative price per square foot of $1,100 for the newly renovated space, the owner's duplex would be valued at $1.98M on the open market.

The new owner in essence acquires the raw duplex space for $1.0M, or $555/sq ft (well below market price in Greenpoint, if you can even find it). Then, for the remaining $2.99M of the overall purchase price, the new owner takes over the remaining rentals in the building (whose net annual income of $181,000 represents a CAP rate of 6.2%).


Larger Owners Unit Potential:
The purchaser can also opt to create a larger living space by combining additional units in the building. For example, the buyer could combine both garden/parlor-floor duplexes to create an incredible 3600 sq ft home with multiple private outdoor spaces, and receive net rental income of $125,000 per year. On the open market, a sprawling luxury duplex like this would conservatively be valued at $3.96M.


The Best Neighborhood in Brooklyn:
Offering NYC skyline views, beloved parks, and recently developed waterfront green spaces, Greenpoint has leapfrogged other popular Brooklyn neighborhoods to become a prime destination for transplants from other parts of the city and all over the world.
It is considered to be one of the hottest neighborhoods in New York City. Greenpoint's abundance of culinary and nightlife options is evidence of its thriving growth, while at the same time remaining a sought-after residential neighborhood. Greenpoint is a veritable wonderland of mom-and-pop shops and food markets, boutiques and curio shops - many of them dating back to the 1910's, while others opened circa the 2010's. Served by both the G subway line and ferry service, Greenpoint is easily reachable by commuters and visitors alike.

Setup available upon request.

Location

State NY

County Kings

Interior

Furnishings Unfurnished

Fireplace No

Laundry Common On Floor, Common Area

Exterior

View Y/N No

Private Pool No

Building

Dwelling Type Multi Family,Townhouse

Story 3

New Construction No

Others

Pets Allowed Pets Allowed

Ownership None

Monthly Total Fees $1, 155

Pets Allowed Building Yes, Cats OK, Dogs OK

REBNY IDX
RLS Data display by Manhattan Miami Real Estate

GET MORE INFORMATION

Anthony Guerriero

Anthony Guerriero

Broker

+1(646) 376-8752

Name
Phone*
Message
I agree by electronic signature to the Electronic Disclosure Consent; to receive recurring marketing communication from or on behalf of Manhattan Miami Real Estate, including auto-dialed calls, texts, and artificial/prerecorded voice messages (consent not required to make a purchase; data rates may apply; reply “STOP” to opt-out of texts or ‘HELP” for help); and to the Terms of Service and Privacy Policy of this website. I understand that I can call to obtain direct assistance.

Go tour this home

199 Java Street

Why Invest in Miami

Miami Real Estate is among the most valuable in the world. Miami, Florida has been growing in terms of importance for the last two decades.

Moving to Miami

Are you thinking of moving to Miami? You are not alone. Miami has seen significant migration from high tax states, Central and South America and even Europe over the last decade.  Here a small guide to help you decide before making  the move.

Buying Pre-Construction

Buying a pre-construction condo in Miami is an exciting proposition that needs to be planned and approached diligently. Learn some of the major things you need to know when buying a pre-construction.

Foreign Buyers

For foreign investors, the US real estate market might be something of a mystery. But in our experience helping buyers find the right home or investment property in the US, we’ve found that the US real estate market can be transparent and friendly for foreigners

Manhattan Miami Real Estate

Learn about our services in two of the most important real estate markets in the country.

Case Studies

No matter the walk of life, we will guide you through the buying process of finding the right home for you. Hear about our client's stories and see where you fit in.

QUICK SEARCH
There are 24 quick searches