Greenpoint Loft Building on Market for $25M

Another condo-gone-rental building is up for sale, this time at 305 McGuinness Boulevard in Greenpoint, reported the New York Observer. The building, known as Lofts 350, has been accused of shoddy construction and high rents. But the seller claims average rents at the building are now under market, and therefore any sale represents a solid business opportunity for a buyer, said the story. The asking price? $25 million.
Marcus & Millichap Marketing Greenpoint Rental Building [NY Observer]
Photo via NYS