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265 South 2nd Street
Williamsburg, Brooklyn | Havemeyer Street & Marcy Ave
22,800 Square FeetRental Property
$10,500,000
$10,500,000
Updated 8 years ago
Sold

265 South 2nd Street

Williamsburg, Brooklyn | Havemeyer Street & Marcy Ave

22,800 Square FeetRental Property

$10,500,000
floors / apts6 / 35
Lot Size50'x100'
Building TypeLow-Rise
Price Per SF
$461

This property was sold for $22,400,000 on 06/23/16.

Building Amenities

  • Voice Intercom
  • Laundry Room
  • Roof Deck

Property Description for 265 South 2nd Street

This fully occupied brick multifamily building is located in one of the most rapidly gentrifying areas of Brooklyn. Of the 35 units, 17 are rent-stabilized and are considerably under market. The average rent of under $33/sf demonstrates that there is approximately 40% of upside across the board. The free-market units have been nicely renovated. The structure has been reasonably well maintained including the installation of a new gas boiler last year. The building is located four blocks from the Marcy Avenue J, M & Z train station, six blocks from the Lorimer Street L train station and nine blocks from the Bedford Avenue L train station, all of which provide direct access into Manhattan. This offering is a tremendous opportunity to purchase a turn-key investment property in a popular location with a rent roll that is poised to grow over the coming years.

Listing History for 265 South 2nd Street

Now
05/02/2013
$10,500,000
Sold and Closed by Mark Lively
Cushman & Wakefield
03/01/2013
Contract Signed by Mark Lively
Cushman & Wakefield
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Building Details for 265 South 2nd Street

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1914
Floors/Apts6/35
Learn More About the Building

Transit and Citi Bike

Subway

Marcy Av
0.22 miles
Metropolitan Av
0.3 miles
Hewes St
0.37 miles
Lorimer St
0.39 miles
Bedford Av
0.4 miles

Citi Bike

Grand St & Havemeyer St
0.09 miles
S 4 St & Roebling St
0.15 miles

Contact Agent

Contact Agent

Mark Lively
Cushman & Wakefield

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: 48139TH
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