$5,900,000
Updated 5 years ago
Off Market

372-376 Union Ave

Williamsburg, Brooklyn | Grand Street & Powers Street

10,837 Square FeetIncome Property

$5,900,000
floors / apts3 / 8
Lot Size50'x93'5"
Built Size50'x70'
ZoneR7A
Building TypeLow-Rise
RE Taxes$16,325
Price Per SF
$544

Building Amenities

  • Voice Intercom
  • Garage

Property Description for 372-376 Union Ave

B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale of 372 & 376 Union Avenue in Williamsburg, Brooklyn. The properties are located on the corner of Powers Street, with the Lorimer/Metropolitan Avenue L & G train entrance across the street. 376 Union Avenue is a mixed-use building with ground floor retail, 2 free-market residential units, and a private garage. The retail space is occupied by a bodega tenant for the next 4 years, while the residential units on the upper floors and garage in the rear of the lot are owner occupied, and will be delivered vacant. 372 Union Avenue is a brick multifamily building with 6 rent stabilized apartments. though the property is subject to rent stabilization, it benefits from significant unused air rights. As an assemblage, an investor/developer would have the ability to collect in-place income from tenants in 372 Union Avenue, transfer all available air rights to the corner lot, and capitalize on a significant 10,500+ buildable square foot, free-market development opportunity. (Please view our marketing book for a more complete breakdown of development potential.)

Listing History for 372-376 Union Ave

Now
07/30/2021
POM by Robert W. Moore
B6 Real Estate Advisors
04/26/2021
Contract Signed by Robert W. Moore
B6 Real Estate Advisors

Building Details for 372-376 Union Ave

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts3/8
Learn More About the Building

Transit and Citi Bike

Subway

Metropolitan Av
0.1 miles
Lorimer St
0.18 miles
Hewes St
0.35 miles
Broadway
0.37 miles
Graham Av
0.42 miles

Citi Bike

Hope St & Union Ave
0.03 miles
Devoe St & Lorimer St
0.16 miles

Contact Agents

Contact Agents

Robert Moore
B6 Real Estate Advisors
Bryan Kirk
B6 Real Estate Advisors
Thomas Donovan
B6 Real Estate Advisors

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. 

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: 78548TH