29 Greenpoint Ave
Listing Notes
Welcome to 29 Greenpoint Avenue, a boutique mixed-use property located in the heart of Greenpoint, one of the strongest long-term appreciation corridors in New York City. Positioned steps from Transmitter Park, the NYC Ferry, and the multi-billion-dollar Greenpoint Landing redevelopment, the property is surrounded by thousands of newly developed and planned residential units and continued large-scale investment throughout the neighborhood. The property is fully occupied and consists of a long-term retail tenant occupying the ground floor and cellar, along with two floor-through residential apartments above. Current in-place income exceeds $250k annually with projected upside to approximately $300k based on market rents. The retail lease includes annual rent escalations and extends through 2033 with a renewal option, while the residential units are fully free-market and exempt from New York's Good Cause Eviction framework, offering immediate near-term rental upside. Existing rents remain below nearby market levels, with area residential walk-up product achieving approximately $90/SF and nearby retail rents approaching or exceeding $100/SF in prime Greenpoint locations. The property also benefits from Protected Tax Class 1 status with real estate taxes of only approximately $9,201 annually. In addition to stable cash flow and future rental growth, the property also offers meaningful long-term expansion and redevelopment potential. The site currently contains approximately 2,230 additional buildable square feet as-of-right, or up to approximately 3,223 buildable square feet under the current UAP zoning framework, creating a rare opportunity to combine durable in-place income with future development optionality in one of Brooklyn's most rapidly appreciating neighborhoods.
Price in context
Cheaper than 12% of the 24 homes listed nearby right now, which run $2,150,000 to $5,495,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 1110 Manhattan Ave Unit 4 | $2,150,000 | 3 bd · 2 ba |
| 21 India St Apt 38C | $2,225,000 | 2 bd · 2 ba |
| 29 Huron St Apt 9FW | $2,350,000 | 3 bd · 2 ba |
| 83 Eagle St Unit Ph | $2,395,000 | 3 bd · 3 ba |
| 29 Huron St Unit Phcw | $2,450,000 | 2 bd · 2 ba |
| 174 Eagle St # 4 | $2,495,000 | 3 bd · 3 ba |
| 54 Dupont St Unit TH1 | $2,695,000 | 3 bd · 4 ba |
| 151 Freeman St Unit 2B | $2,700,000 | 3 bd · 2 ba |
| 151 Freeman St Unit 2B | $2,700,000 | 3 bd · 2 ba |
| 29 Huron St Unit Phbw | $2,795,000 | 3 bd · 2 ba |
| 101 Eagle St | $2,795,000 | 5 bd · 4 ba |
| 686 Leonard St Apt 2 | $2,795,000 | 3 bd · 3 ba |
| 29 Huron St Apt 3BW | $3,050,000 | 3 bd · 3 ba |
| 29 Huron St Apt 11CE | $3,140,000 | 3 bd · 3 ba |
| 177 Java St | $3,150,000 | 8 bd · 3 ba |
| 108 India St Apt 1 | $3,195,000 | 3 bd · 3 ba |
| 29 Huron St Apt 6CW | $3,395,000 | 3 bd · 3 ba |
| 84 Oak St Apt 3B | $3,500,000 | 3 bd · 3 ba |
| 151 Freeman St # B | $3,538,000 | 3 bd · 3 ba |
| 151 Freeman St # B | $3,538,000 | 3 bd · 3 ba |
| 19 Clifford Pl | $3,690,000 | 16 bd · 9 ba |
| 105 Franklin St | $3,850,000 | 4 bd · 4 ba |
| 16 Clifford Pl | $4,395,000 | 6 bd · 5 ba |
| 85 Calyer St | $5,495,000 | 5 bd · 6 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more