158 Newton St Unit Entire building, Kings, NY 11222

Property Description

An exceptional opportunity to acquire a modern, income-producing mixed-use property in one of Brooklyn’s most desirable and thriving neighborhoods. Built entirely from the ground up in 2019, 158 Newton Street is a contemporary three-story building offering approximately 6,521 square feet of space, comprising six free-market residential apartments and two ground-floor commercial storefronts. The residential component consists of four spacious two-bedroom apartments, one one-bedroom apartment with private outdoor space, and one studio apartment. Thoughtfully designed with modern living in mind, the residences feature oversized windows, contemporary kitchens with granite countertops, stainless steel appliances, and Mitsubishi split-system heating and cooling. Select apartments offer private outdoor space, while rooftop areas provide additional outdoor enjoyment and impressive city views. The two ground-floor commercial storefronts provide valuable income diversification and benefit from the property’s location within the vibrant Greenpoint and Williamsburg corridor. Investment Highlights: Newly constructed in 2019 following complete demolition of the previous building Eight total units: six free-market residential apartments and two commercial storefronts Approximately 6,521 square feet of building area Projected annual gross rental income of approximately $410,400 Projected capitalization rate of 5.42%, based on supplied income and expense figures Approximately 2,523 square feet of additional buildable FAR, according to NYC records, subject to verification and zoning approvals Modern construction, contemporary finishes, and desirable residential amenities Strong rental appeal in an established and highly sought-after Brooklyn neighborhood Ideally situated near Greenpoint’s celebrated restaurants, cafés, boutiques, and neighborhood attractions, 158 Newton Street offers convenient access to the Nassau Avenue G train and Graham Avenue L train, providing connectivity throughout Brooklyn and Manhattan. With its relatively recent construction, free-market residential apartments, diversified commercial income, and additional development potential, 158 Newton Street presents an attractive opportunity for investors seeking both immediate income and long-term appreciation in the Brooklyn real estate market.