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A blog from CityRealty (Links below will take you to the 6sqft site)

123 Guernsey Street

$7,250,000 | 6+ beds, 6+ baths
112 days on Market

Key Details

  • Listed Jun 8, 2021
    Days on Market 112
    Building Type Townhouse
    Neighborhood Greenpoint
    Listing viewed 148 times
Est. Monthly Mortgage $24,453
Total Est. Monthly Carrying Cost $24,453

Description

RARE 25' x 78' 4-story building (7,800SF + approx 1,900SF cellar) in a picturesque Brooklyn street with endless possibilities. Configured as 13 FREE MARKET rental units (currently being used as 12 units), 123 Guernsey is situated on an idyllic tree-lined street, steps away from McCarren Park, iconic Williamsburg, and trendy Greenpoint. Current Setup: 9 FM Studios 2 FM 1BRs 1 FM 2BRs 4% projected cap rate in AS IS condition (2 units have recently been renovated). It is about 50% occupied and CAN BE DELIVERED VACANT! It's an easy value-add play to create luxury rentals in a high appreciation neighborhood. For the discerning investor, CONVERT EACH FLOOR INTO CONDO to maximize return with new development condo comps in the $1400/SF range in the area.

Side windows give flexibility in terms of bedroom layout and the backyard and roof can provide ample amounts of outdoor space for each unit once converted. INQUIRE ABOUT POTENTIAL DEVELOPMENT OPTIONS Setup available upon request. Showings by appointment. Details: - Lot: 25' x 100' - Building Dimensions: 25' x 78' - Square footage: 7,800SF + approx 1,900SF cellar (4-stories + cellar)

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Area info for 123 Guernsey Street

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Subways

  1. G
at Manhattan Ave and Norman Ave 0.14 miles
Skyline Tower
Between 23rd Street & Crescent Street
Long Island City
Elevated Living in LIC | Studio - 3-bed condos from $680K | 20,000-sf of lifestyle amenities
Learn More
Skyline Tower - View of the Building with Skyline Rendering Skyline Tower - View from Unit Terrace Rendering Skyline Tower - Unit Living Room Rendering Skyline Tower - Unit Living Room Rendering 2 Skyline Tower - Unit Kitchen Rendering
Listing provided courtesy of Compass