$1,995,000
Updated 7 years ago
Off Market

392 Lorimer Street

East Williamsburg, Brooklyn | Scholes Street & Stagg Street

9 Rooms6 Beds3 Baths2,205 Square FeetMulti-Family

$1,995,000
floors / apts3 / 3
Lot Size21'x100'
Built Size21'x35'
ZoneR6B
Building TypeTownhouse
RE Taxes$2,729
Price Per SF
$905

Outdoor space and views

  • Backyard

Property Description for 392 Lorimer Street

How about starting 2019 with a brilliant investment? 392 Lorimer in prime East Williamsburg offers you two options to do just that.Option One: this gorgeous legal 3-family brick townhouse is currently set up as 3, two bedroom and 1 bathroom rentals and has a very impressive 6% Cap Rate.Option Two: the seller already has approved plans to convert this beauty into a 6-unit boutique condo building. The hard part is already taken care of. Now you can reap the benefits.This rock solid, bright and beautiful townhouse is smack dab in the middle of what renters and buyers alike are clamoring for in this prime East Williamsburg location shops, restaurants and boutiques and transportation (welcome back L-train!) At 21.5 feet wide and a stunning 100 deep lot, making 392 Lorimer boost your bottom line whatever option you choose is clearly the best decision you could make all year long.

Listing History for 392 Lorimer Street

Now
12/19/2019
POM by Mark Martov
Corcoran
04/01/2019
$1,995,000 [-$204,995] [9.3%]
Price Drop by Mark Martov
Corcoran

Building Details for 392 Lorimer Street

OwnershipMulti-Family
Building TypeTownhouse
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Broadway
0.21 miles
Hewes St
0.3 miles
Metropolitan Av
0.33 miles
Lorimer St
0.34 miles
Lorimer St
0.39 miles

Citi Bike

Scholes St & Lorimer St
0.04 miles
Leonard St & Maujer St
0.13 miles

Contact Agents

Contact Agents

Mark Martov
Corcoran

East Williamsburg | Brooklyn

Quick Profile

East Williamsburg is a mixed industrial neighborhood in Brooklyn, with many working factories that make everything from beer and wontons to clothing and concrete. You are likely to hear screeching, pounding and the deep thump of industrial machinery throughout the day. East Williamsburg has become a haven for artists and musicians of every description, who are attracted to the large open loft spaces of the converted industrial buildings. The area has attracted a younger crowd of 20- and 30-somethings that are drawn by affordable rents and a generally lower cost of living.

There is a rich history of immigrants from Puerto Rico and Italy, and oddly enough, they chose to settle on opposite ends of Graham Avenue, with the Italians on the north and the Puerto Ricans on the south.

Housing in the area consists of mid-rise apartment buildings, row houses, and public housing complexes. There are also smaller multi-family apartment buildings available. Lofts are becoming more prevalent as the older, abandoned factory buildings come up for sale and are converted into residential properties. 

East Williamsburgfairly pulses with a creative vibe. There are unique shopping venues, numerous tiny coffee shops, interesting restaurants, and cafes, along with food trucks that frequent the area. The grocery stores are affordable and carry a wide variety of goods that appeal to the eclectic tastes of the neighborhood residents.

There is a vibrant bar scene, where you will find mostly local residents imbibing, so it is easy to make friends among your neighbors if you stop in frequently at your favorite watering hole. There are many interesting shops, bars and restaurants tucked in amongst the warehouses and factories. Many do not invest in elaborate signage, so it can be difficult to find some of the best spots. Keep an eye out for hand-painted signs on the sides of buildings with arrows pointing to nondescript, nearly invisible entrances.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 74962TH