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Mixed-Use

47-16 Greenpoint Avenue

47-16 Greenpoint Ave, Queens, NY 11104

Listing Price: $26,000,000

Cap Rate
4.70%
Number of Units
12
Occupancy
100.0%
Price/Unit
$2,166,667
Price/Gross SF
$923.53
Gross SF
28,153

Investment Overview

Fee simple interest in 47-16 Greenpoint Avenue, a 28,153 square foot mixed-use building completed in 2020. The retail/community facility space is fully leased to two medical tenants - CityMD, the largest urgent care company in the New York City Metropolitan Area and Neighborhood Radiology. Both leases were signed in 2021 and extend to 2042 and 2036 respectively. The Property qualifies for the ICAP tax abatement program. The building includes 10 residential units (four 1-bedroom units and six 2-bedroom units). Three of the units must remain “Affordable” pursuant to the Affordable New York 421-a program. In exchange, the property benefits from a 35 year property tax abatement.

Investment Highlights

  • Newly constructed mixed-use building
  • Building is fully occupied
  • Prime location

Exclusively Listed By

Financing By

Listing Price: $26,000,000

Cap Rate
4.70%
Number of Units
12
Occupancy
100.0%
Price/Unit
$2,166,667
Price/Gross SF
$923.53
Gross SF
28,153

Investment Highlights

  • Newly constructed mixed-use building
  • Building is fully occupied
  • Prime location

Investment Overview

Fee simple interest in 47-16 Greenpoint Avenue, a 28,153 square foot mixed-use building completed in 2020. The retail/community facility space is fully leased to two medical tenants - CityMD, the largest urgent care company in the New York City Metropolitan Area and Neighborhood Radiology. Both leases were signed in 2021 and extend to 2042 and 2036 respectively. The Property qualifies for the ICAP tax abatement program. The building includes 10 residential units (four 1-bedroom units and six 2-bedroom units). Three of the units must remain “Affordable” pursuant to the Affordable New York 421-a program. In exchange, the property benefits from a 35 year property tax abatement.

Exclusively Listed By

Financing By

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