47 Franklin St 6 Unit Apartment Building $10,464,000 CAD ($1,744,000 CAD/Unit) 5.80% Cap Rate Brooklyn, NY 11222

Marcus & Millichap is pleased to present 47 Franklin Street, a meticulously maintained mixed-use building ideally positioned in the heart of Greenpoint, Brooklyn. Featuring 4 free-market residential units and 2 commercial spaces leased to Chez Ma Tante—one of NYC’s top-ranked restaurants—47 Franklin offers investors a rare opportunity to acquire a stable, income-producing asset with immediate returns and long-term upside.
• Top-Performing Commercial Tenant-Both commercial units are occupied by Chez Ma Tante, recognized by the New York Times as a Top 100 Restaurant. The tenant benefits from strong local demand and a destination-driven customer base, supported by annual 3% rent increases, providing predictable income growth and durable future revenue.
• Desirable Free-Market Residential Mix With Rising Rents
The property’s residential units are all free market, including a mix of large 1- and 2-bedroom layouts with strong in-place rents and continued upside. With zero vacancies, favorable layouts, and a high-demand corridor, the building supports consistent residential absorption and premium rent potential.
• Located on Franklin Street and Calyer Street – One of Brooklyn's Most Sought-After Retail Corridors
Situated on a prime stretch of Franklin Street, 47 Franklin is surrounded by boutique retailers, cafes, acclaimed restaurants, creative offices, and essential neighborhood services. This vibrant corridor enjoys steady foot traffic and strong year-round demand from both residents and visitors drawn to the neighborhood’s energetic streetscape.
• Steps From Bushwick Inlet Park & Major Waterfront Development
Just a 1-minute walk from Bushwick Inlet Park, the property benefits from over $90 million in recent and ongoing investment into the Greenpoint-Williamsburg waterfront. Major public-realm improvements, enhanced recreation space, and the broader 40-acre open-space master plan continue to drive residential and commercial demand throughout the corridor.
• Exceptional Transit & Connectivity
47 Franklin offers excellent transportation access, with the G train at Greenpoint Avenue only minutes away and multiple Citi Bike stations nearby. The property also provides seamless connectivity to Williamsburg, Long Island City, and Manhattan via the Brooklyn-Queens Expressway, Pulaski Bridge, and nearby ferry service—making it highly attractive to both residents and commercial tenants.
• Compelling Financial Profile – Strong In-Place Returns
With a current 5.8% cap rate and additional upside in the current rents and continued area growth, 47 Franklin presents a rare opportunity to own a high-performing mixed-use asset in one of Brooklyn’s most dynamic submarkets.