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168 Russell Street

Brooklyn, NY 11222
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Bed 12

Bed

Bath 7

Bath

Acres0.06

Acre(Lot)

**Prime Greenpoint 6-Family Investment Opportunity** An OPPORTUNITY to acquire a Mostly Renovated Six-Family Frame building in the HEART of Greenpoint, Brooklyn, one of New York City's most desirable and consistently appreciating neighborhoods. Lovingly owned and cared for by the SAME FAMILY for over 40 years, this is the FIRST time in decades that this exceptional asset has been offered for sale. The pride of ownership is evident throughout, making it a rare opportunity to acquire a building that has been meticulously maintained over generations. Built in 1931, this 3-story multifamily building sits on a 25' x 100' lot with a 25' x 60' building footprint, offering a solid investment with strong in-place income and future upside. Zoned R6B, the property is ideally positioned in one of Br ooklyn's most sought-after residential neighborhoods. Currently generating $183,600 in annual gross rental income, the building has been extensively improved, with 5 of the 6 apartments Renovated, reducing immediate capital expenditures while enhancing tenant appeal. Even more attractive for investors, 3 of the 6 apartments are DEREGULATED, providing immediate and long-term rental growth potential. The property also features a Full Basement with Tall Ceilings, offering Excellent Storage future possibilities (subject to applicable approvals). Annual real estate taxes are an attractive $13,608.16, contributing to a favorable operating profile. Perfectly situated on a quiet, tree-lined street just moments from Manhattan Avenue, McGolrick Park, McCarren Park, renowned restaurants, cafes, boutique shopping, and convenient G Train access, the property continues to benefit from Greenpoint's exceptional rental demand and enduring appreciation. Investment Highlights: **First time offered in over 40 years** Same family ownership for over four decades! -6-Family Frame Building -Built: 1931 -3 Stories -Building Size: 25' x 60' -Lot Size: 25' x 100' -Zoning: R6B -Annual Gross Income: $183,600 -Annual Property Taxes: $13,608.16 -5 of 6 Apartments Renovated -3 Deregulated Units -Full Basement with Tall Ceilings -Excellent current cash flow with significant long-term upside -Located in one of Brooklyn's most desirable and resilient rental markets Opportunities like this are increasingly rare. Combining decades of attentive ownership, strong existing income, renovated apartments, deregulated units, and a premier Greenpoint location, 168 Russell Street represents a true legacy investment for the next generation of ownership.

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Detail Ic Property Details

Property Type : Residential Income

Price : $3,500,000

AD Id : 88268781

MLS Id : 1028547

Beds : 12

Lot Size : 0.06 Acre

Year Built : 1931

County : Kings (Brooklyn)

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Feature Features

  • Bedroom Information

    Total beds: 12

    Bathroom Information

    Total Baths: 7 Full Baths: 7

    Room Information

    Basement: Finished, Partially Finished
  • Interior Features

    Eat-in Kitchen
  • Heating & Cooling

    Has Heating: Yes Heating: Natural Gas Has Cooling: Yes Cooling: Wall/Window Unit(s)

  • Building Information

    Year Built: 1931 Building Area Total: 4500 Construction Materials: Aluminum Siding Private Pool: No

  • Lot Information

    Lot Size Acres: 0.0574 Lot Size Square Feet: 2500

  • Listing Price Information

    Listing Price: $3500000

  • Tax Information

    Parcel Number: 02655-0051 Annual Tax: $13608

  • Parking Information

    No Garage, None

  • School Information

    Elementary School: Ps 110 Monitor
    Junior High School: John Ericsson Middle School 126
    Senior High School: A-TECH HIGH SCHOOL
  • Utility Information

    Natural Gas Available, Electricity Connected, Natural Gas Connected
  • Location Information

    WaterSource: Public
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The data relating to real estate for sale on this website comes in part from the Internet Data exchange of OneKey MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 OneKey MLS. All Rights Reserved

ByOwner last updated this listing 07/25/2026 @ 09:40

MLS: 1028547 LISTED BY: Amberly Sclar, BLT Minimax Realty Inc 718-609-0800 SOURCE: OneKey MLS

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