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The city's expanded East River Ferry service is boosting rents in some waterfront neighborhoods. A recent StreetEasy study found that in Greenpoint, rents for apartments within 10 minutes of the ferry dock have increased by almost two percent over the past year, much more than in the surrounding area.
This isn't great news for renters, of course, but for buyers seeking an investment property, a condo like this one, listed by Compass for $719,000, could be a smart purchase. The one bedroom, one bath is in a building about three blocks from the ferry that has a tax abatement in place until 2026, meaning low monthly charges, and an easier time paying off your mortgage with rental income, should you choose to rent it out rather than live in it.
The open plan living area isn't huge, but it looks sunny and open, and the balcony adds a sense of spaciousness. The kitchen offers a decent amount of storage and counter space, and has stainless steel appliances, including a dishwasher.
The bedroom has large windows and a closet. The bathroom is roomy, with double sinks and a separate shower and tub.
There's a coat closet off the foyer, and a washer-dryer in its own closet.
The building has a furnished roof deck, bike, laundry, and package rooms, and a virtual doorman. In addition to the ferry, the G train at Greenpoint Avenue is three blocks away.
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