Greenpoint Mixed-Use Corner Property
279 Driggs Avenue
Greenpoint
East River Ferry, BQE
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Details
Overview
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.
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
