29 Greenpoint Avenue TH
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 29% of the 24 homes listed nearby right now, which run $2,185,000 to $5,300,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 174 West Street 201 | $2,185,000 | 3 bd · 2 ba |
| 174 Eagle Street 4 | $2,495,000 | 3 bd · 3 ba |
| 29 Huron Street 9FE | $2,550,000 | 3 bd · 2.5 ba |
| 1080 Lorimer Street 1F | $2,600,000 | 3 bd · 3 ba |
| 108 India Street 2A | $2,695,000 | 3 bd · 3 ba |
| 54 Dupont Street TH1 | $2,695,000 | 3 bd · 3.5 ba |
| 129 Calyer Street | $2,950,000 | 4 bd · 2 ba |
| 177 Java Street | $3,150,000 | 8 bd · 3 ba |
| 108 India Street 1 | $3,195,000 | 3 bd · 2.5 ba |
| 53 Franklin Street 6 FAMILY | $3,200,000 | 12 bd · 6 ba |
| 954 Manhattan Avenue SIXFAM | $3,200,000 | 6 bd · 10 ba |
| 76 Java Street MULTIFAMILY | $3,250,000 | 6 bd · 6 ba |
| 29 Huron Street 6CW | $3,425,000 | 3 bd · 2.5 ba |
| 941 Manhattan Avenue 5-UNITS | $3,490,000 | 8 bd · 4 ba |
| 84 Oak Street 3B | $3,500,000 | 3 bd · 3 ba |
| 1021 Manhattan Avenue | $3,600,000 | 9 bd · 6.5 ba |
| 128 India Street MIXED USE | $3,650,000 | 8 bd · 2.5 ba |
| 19 Clifford Place | $3,950,000 | 16 bd · 9 ba |
| 155 Noble Street 1A | $3,950,000 | 4 bd · 3.5 ba |
| 29 Huron Street 2DW | $3,995,000 | 3 bd · 2.5 ba |
| 143 Milton Street | $4,195,000 | 3 bd · 3 ba |
| 164 India Street 5 FAM | $4,599,000 | 10 bd · 5.5 ba |
| 128 Oak Street TOWNHOUSE IN GREENPOINT | $4,700,000 | 6 bd · 4 ba |
| 212 Franklin Street | $5,300,000 | 5 bd · 4 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more
OpenRealtor, a RealtyLens company. Listing facts are drawn from public feeds and enriched with NYC public records. This is not the original listing site.