121 Henry Street & 87 Joralemon Street 2 Multifamily Properties Offered at $12,857,250 CAD in Brooklyn, NY

The Brennan Team of Marcus & Millichap has been exclusively engaged to represent ownership in the sale of 121 Henry Street and 87 Joralemon Street, two five-story brownstone apartment buildings located in the Brooklyn Heights neighborhood of Brooklyn, New York. Each building is comprised of 10 units, for a total of 20 residential apartments. The subject properties are located four blocks (0.3 miles) from each other, in one of the most premier neighborhoods of Brooklyn.
121 Henry Street is located between Clark and Pierrepont, and measures approximately 25 feet by 49 feet deep on a lot that extends 92.5 feet deep. This property was built prior to the Civil War in 1849 and was previously featured in “The Brownstone Detectives” in 2020. Total square footage is approximately 6,125, and the property is zoned R7—offering the potential to utilize approximately 1,830 square feet of additional unused air rights. The property stands five stories tall and offers nine (9) one-bedroom units, and one (1) studio. Of the 10 apartments, eight are free market and two are rent-stabilized. Both 1R and 2R have private access to a large backyard.
87 Joralemon Street is located between Hicks Street and Garden Place, and measures approximately 20 feet by 48 deep on a lot that extends 100.67 feet deep. This property was built in 1910. On the first two floors, there is a rear extension that measures approximately 63 square feet, resulting in a total building size of approximately 4,926 square feet. The property is zoned R6 and is in Tax Class 2B. This property also stands five stories tall and offers nine (9) one-bedroom units, and one (1) studio. Of the 10 apartments, nine are free market and one is rent-stabilized. There is a large private backyard that is exclusive to unit B.
121 Henry Street & 87 Joralemon Street have been owned for decades by the same private investor, who will entertain selling these buildings separately or in a package. The properties offer a new purchaser several re-positioning options with a high likelihood of future appreciation. Brookyln Heights consistently ranks high amongst New York City neighborhoods in desirability for both renters and homeowners, with premium boutique condos achieving north of $2,500/SF and luxury rentals at $110/SF.