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550 Metropolitan Ave
Williamsburg, Brooklyn | Lorimer Street & Union Ave
12 Beds6 Baths2,626 Square FeetIncome Property
$4,250,000
$4,250,000
Updated 11 years ago
Off Market

550 Metropolitan Ave

Williamsburg, Brooklyn | Lorimer Street & Union Ave

12 Beds6 Baths2,626 Square FeetIncome Property

$4,250,000
floors / apts3 / 5
Lot Size25'x120'
Built Size25'x35'
ZoneR7A
Building TypeDevelopment Site
RE Taxes$10,363
Price Per SF
$1,618

Outdoor space and views

  • Garden

Building Amenities

  • Voice Intercom
  • Courtyard
  • Gated Entry
  • Outdoor Parking
  • Roof Deck

Property Description for 550 Metropolitan Ave

Trophy Development Property in Prime Williamsburg! 550 Metropolitan Avenue is a 1930 brick Five family home in the heart of Williamsburg, only half a block away from the Lorimer L train stop. A historic home with amazing potential, it sits on an extraordinarily large lot with a plethora of air rights. This large lot makes the property suitable for many scenarios including primary residence, development condos or rentals, with or without commercial space, and more. In the area: A new 200 room hotel by Chetrit is going up at 500 Metropolitan ave. Tons of bars, restaurants, cafes, and transportation abound. Condominiums in the area are selling for over $1000/foot. Rentals in the vicinity are renting for $50/foot/year. Retail in the area rents for $100/foot/year. These numbers continue to rise. The lot is 25 by 120 feet. Zoning is C2-4/R7A. FAR currently is .88 but can be 4 meaning 12,000 max buildable square feet. There are existing plans for a new development with commercial space and 4 large and luxurious units. Building will be vacant in 8 months. Most leases are month to month.

Listing History for 550 Metropolitan Ave

Now
10/06/2015
POM by Roni Dotan
Corcoran
07/08/2015
TOM by Roni Dotan
Corcoran
Load More

Building Details for 550 Metropolitan Ave

OwnershipIncome Property
Building TypeDevelopment Site
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1920
Floors/Apts3/5
Learn More About the Building

Transit and Citi Bike

Subway

Lorimer St
0.03 miles
Metropolitan Av
0.08 miles
Graham Av
0.35 miles
Bedford Av
0.41 miles
Hewes St
0.5 miles

Citi Bike

Devoe St & Lorimer St
0.09 miles
Metropolitan Ave & Meeker Ave
0.09 miles

Contact Agents

Contact Agents

Roni Dotan
Corcoran
Jennifer Carlson
Corcoran

Williamsburg | Brooklyn

Quick Profile

Equal parts family-friendly and millennial haven/nightlife destination, Williamsburg offers the best of all worlds. Whether by night or by day, the ‘Burg has endless options for every type of personality and interest--which has only increasingly become the case after the neighborhood was rezoned in 2005. With the floodgate opened for more varied types of businesses, Williamsburg saw one of the highest rates of development in the past decade than any other part of Brooklyn. 

Referred to as “Little Berlin” for its late night and club-oriented nature, Williamsburg works as hard as it plays. Apart from the Clubland concentrated around Wythe Avenue, there is also a slew of offices (like 25 Kent Avenue, a sprawling eight-floor, 500,000-square foot waterfront building) and co-working spaces such as WeWork, The Yard and Green Desk that make it an ideal location for the corporate-, startup- and tech-oriented set. 

With more offices setting their sights on this part of Brooklyn, it only makes sense that more people want to live close to where they work. Apart from your average walk-up apartment, W-burg has famously become home to numerous condos along the waterfront that continue to grow and expand in concert with the businesses and corporate hubs that have entered the environment. 

Even with its many and undeniable changes, however, Williamsburg remains an arts-friendly community, particularly with regard to music and literature. While DIY spaces have come and gone, certain staples have persisted to become institutions that still provide a place for up and coming musicians to perform. On the literary front, long-standing indie bookstores like Spoonbill and Sugartown and Book Thug Nation have paved the way for others to cross the river, namely McNally Jackson Books. 

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posted on November 16, 2023
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: 53588TH
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