Multifamily Property for Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11222

Description

Marcus & Millichap is pleased to offer 159 Eckford Street, a rare opportunity to acquire a fully vacant three-family asset in the heart of Greenpoint, Brooklyn — one of North Brooklyn’s most supply-constrained and consistently high-performing residential submarkets. Positioned between Nassau and Driggs Avenue, the property offers investors, developers, and end-users immediate flexibility through market-rate lease-up potential, live-plus-income conversion, or future boutique redevelopment. The 3,450 square foot building consists of three residential units and benefits from approximately 1,304 square feet of additional air rights, creating a compelling long-term value-add opportunity. Delivered 100% vacant, the asset allows for immediate repositioning at projected rents ranging from $6,500 to $7,000 per unit, supported by Greenpoint’s strong tenant demand and limited housing inventory. The combination of vacancy, redevelopment potential, and premier location positions the property as a compelling North Brooklyn investment opportunity with significant upside potential. Investment Highlights: • 159 Eckford Street, built in 1901, is a three-unit multifamily asset, spanning 3 stories, approx. 3,450 SF. • Tax Class: 1 | Zoning: R6B | Delivered 100% Vacant • Located moments from the Nassau Avenue G train, Bedford Avenue L train, & NYC Ferry service at India Street, 159 Eckford offers seamless connectivity to Williamsburg, Long Island City, and Manhattan.

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 54 days. Compare it against other multifamily listings for sale in Brooklyn, NY — <a href="/search/sale/multifamily/new-york/brooklyn">view the full market</a>.

As of Q1 2025, the New York City Area multifamily market showed a 4.8% vacancy rate, and rents up 6.3% year over year. Source: CBRE Q1 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the New York City Area multifamily market tightening or softening?
Vacancy is around 4.8%, with asking rents rising year over year (Q1 2025).

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