29 Greenpoint Avenue, New York City, NY 11222

• 5 beds |
• 3 baths |
• 3,620 sqft

Property Description

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.

Listing Status:

Active

Date Added:

May 27, 2026

Data Last Updated:

June 12, 2026 at 9:21PM

Listing Office:

Compass : (212) 913-9058

Listing Agent:

Nathan M Horne : (706) 255-5657

MLS ID:

RLS20093821

Interior

• Laundry: See Remarks
• A/C: None
• Heating: None
• Fireplace: Fireplaces: 0

Exterior

• General: Private Outdoor Space Over 60 SqftPrivate Yard

Construction

• General: 3

Location

• HOA Amenities: 0.0Monthly
• Originating MLS: RLS_REBNY
• County: Kings

Lot

• Zoning: 02556-0053

Financial

• Source: RLS_REBNY