132 Calyer StBrooklyn, NY 11222

Property Details for 132 Calyer St

Property size (Sq ft)

5,625 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional Greenpoint, Brooklyn investment opportunity presents two meticulously maintained homes on a single 2,500 sq ft lot. The front building, a three-family home (5,625 total sq ft), underwent extensive renovations in 2019 and 2020, boasting new siding, insulation with a 50-year warranty, double-pane windows, and a new front door. The updated systems include a 4-year-old boiler and on-demand hot water. Each floor offers significant potential for expansion. The clean basement features two means of egress and a 7-foot high ceiling. The rear building, a stunning three-story single-family home constructed in 2008, offers top-of-the-line finishes. This sun-drenched oasis features an open floor plan, walnut hardwood floors, a chef's kitchen with granite countertops and a large island, a separate dining area, and a spacious living room opening to a Trex patio. Upstairs, two large bedrooms each include built-in closets, and the full bath is finished with marble tile and a Kohler tub. The basement includes a full bar, media/living room with a fireplace, a bedroom, and a full bath, plus access to an outdoor patio with a jacuzzi. The property benefits from a Firestone vinyl roof with a remaining warranty. Both properties are zoned R6B and offer unparalleled rental income potential, or the possibility of condo conversion. The location is ideal, just blocks from the ferry, G train, and McCarren Park, surrounded by vibrant culinary and artistic attractions. This is a truly unique investment opportunity in a highly desirable neighborhood. The property boasts a 5.67% current cap rate and a pro-forma cap rate of 8.06%, with a current NOI of $226,800 and a pro-forma NOI of $322,286. The asking price is $3,999,999.

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.7275

Longitude

-73.9553

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