47 Withers Street

Ariel Property Advisors has been retained to sell the fully gut renovated mixed-use property located at 47 Withers Street in the prime Williamsburg section of Brooklyn. The property consists of six free market apartments and one ground floor retail unit. Five of the apartments are 2-bedroom apartments and the fourth floor rear apartment is a 3-bedroom duplex. This 4 story building is 25’ x 50’ and encompasses approximately 5,000 gross square feet and sits on a 25’ x 100’ lot. The building was redeveloped in 2017 so all units are equipped with new, high-end appliances and finishes. Each tenant pays for their own heat and electric. All six residential units are currently occupied. The commercial space on the ground floor is approximately 1,190 square feet, has private access to the backyard and is currently vacant. In addition, the property is in the tax class 2B so increases in its tax bill are restricted. The property is extremely well situated in the prime section of Williamsburg. Transportation is in abundance with the two L train stations at Bedford Avenue and Lorimer Street just a short walk away and the G train at Metropolitan Avenue only 5 short blocks away. The property is also only a few blocks from the entrance to the Brooklyn-Queens Expressway. 47 Withers Street is surrounded by some of the best restaurants, bars, cafes, and shops that Williamsburg has to offer. Bamonte’s Italian restaurant and Llama Inn are located on the same block as the property. The Brooklyn Art Library is right behind the property and the Museum of Food and Drink Lab and McCarren Park are just 3 blocks away. This asset represents a great opportunity to acquire a strong cash flowing, free market property in the booming neighborhood of Williamsburg.