Greenpoint Value Creation Opportunity
233 Franklin Street
Brooklyn, NY 11222
Offered for the first time in a generation, the property is positioned on a substantial 100’ by 200’ single tax lot (Block 2494|Lot 26); 233 Franklin Street, aka 227-233 Franklin Street and 49-57 Eagle Street, consists of 20 occupied fully renovated free-market Class A loft apartments spanning 27,300 square feet. Each distinctly different loft ranges in size from 750 to 2,350 square feet with 11’ to 16’ ceiling heights. Built in 1905, the three-storey brick Franklin Street building contains 15 lofts; all lofts have access to a 4,000 square foot roof deck. Built in 1920, the attached one-storey steel framed Eagle Street building contains five maisonette style lofts with outdoor space. There is a curb cut private gated parking lot on Eagle Street for ten vehicles. Zoned R6, the property retains 21,200 square feet of buildable air rights. As one of the largest privately held residential tracts in north Greenpoint, 233 Franklin Street can remain an income producing asset while exploring its redevelopment possibilities as currently exist as well as additional unlocked value of R8 rezoning as presently benefits adjoining parcels. The property is one block from the newly-created landscaped waterfront esplanade and Newtown Barge Park. Full setup available. Offered on a co-broke basis.