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856 Greene Ave
Brooklyn, NY 11221 Stuyvesant Heights

$5,950,000 USD

Apartments For Sale  •  8,509 SF

Property Details

• Property Type Apartments
• Total Building Size 8,509 SF
• Lot Size 0.07 AC
• Building Class C
• Year Built 1931
• Cap Rate 7.35 %
• Zoning R6A

100 Transit Score

100 Walk Score

Highlights

Gut renovated in 2018 with condo-quality finishes, in-unit laundry, and hardwood floors.

Converted from 4 to 10 units via Alteration Type 1 — permits available for review.

Amenitized with fitness room, bike storage, balconies, roof access, and green spaces.

Mix of 3 and 4 bedroom layouts, all with 2½ bathrooms — desirable BR/BTH ratio.

14-year J-51 tax abatement with full savings through 2031; taxes phase in through 2035.

Legal rents exceed market rents; J-51 riders allow conversion to free market upon abatement expiration.

Cap Rate:

7.35 %

Amenities

• 24 Hour Access
• Air Conditioning
• Dishwasher
• Microwave
• Tenant Controlled HVAC
• Heating
• Kitchen
• Refrigerator
• Oven
• Tub/Shower
• Freezer
• Public Transportation
• Walk-Up
• Smoke Detector

Public Transportation

Commuter Rail	Drive	Walk	Distance
Nostrand Avenue (Babylon Branch - Long Island Rail Road, Far Rockaway Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, Port Jefferson Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	5 min	-	1.7 mi
East New York (Babylon Branch - Long Island Rail Road, Far Rockaway Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, Port Jefferson Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	5 min	-	2.3 mi
Transit/Subway	Drive	Walk	Distance
Kosciuszko Street (J - New York MTA Subway (The Subway))	1 min	8 min	0.4 mi
Myrtle Avenue (J - New York MTA Subway (The Subway), M - New York MTA Subway (The Subway), Z - New York MTA Subway (The Subway))	2 min	9 min	0.5 mi
Gates Avenue (J - New York MTA Subway (The Subway), Z - New York MTA Subway (The Subway))	1 min	12 min	0.7 mi
Utica Avenue (A - New York MTA Subway (The Subway), C - New York MTA Subway (The Subway))	2 min	15 min	0.8 mi
Central Avenue (M - New York MTA Subway (The Subway))	3 min	15 min	0.8 mi
Airport	Drive	Walk	Distance
LaGuardia	19 min	-	8.8 mi
John F Kennedy International	21 min	-	10.7 mi
Newark Liberty International	32 min	-	16.7 mi