123 Guernsey St

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)