$2,500,000 $2,700,000
Updated 15 hours ago
Williamsburg, Brooklyn | Maujer Street & Borinquen Place
18 Rooms10 Beds5.5 Baths1,900 Square FeetMixed Use

$2,500,000 $2,700,000
floors / apts3 / 2
Lot Size25'x60'
Built Size25'x25'
ZoneR6
Building TypeTownhouse
RE Taxes$6,406
Price Per SF
$1,316

Outdoor space and views

  • Terrace

Building Amenities

  • Voice Intercom

Property Description

New Two-Family with astore available for sale for the first time since its inception in 2000. All the apartments in this building have been fully renovated with meticulous detail. All units are currently on a month-to-month Lease except for the restaurant which has a Lease until July 2023. The Penthouse unit will be delivered vacant and has a private terrace overlooking Brooklyn. This vacant unit can increase the rent roll dramatically. The new owner will see an immediate 4.5% rate of return, easily increasing it to 5% when the penthouse is Leased. Excellent potential to achieve over a 6% Capitalization Rate of Return by repositioning the rental units. Located on Union Avenue and Grand Street in prime Williamsburg. This location is perfectly positioned in a high-demand rental area. Call, text, or email anytime for further information and to receive a detailed set up sheet with income, expenses and projected rental income.

Listing History

Now
12/22/2021
$2,500,000 [-$200,000] [7.4%]
Price Drop by Franco Medina
Compass
12/22/2021
Back on the Market by Franco Medina
Compass

Building Details

OwnershipMixed Use
Building TypeTownhouse
Service LevelVoice Intercom
AgePost-War
AccessWalk-up
Year Built2000
Floors/Apts3/2
Learn More About the Building

Transit and Citi Bike

Subway

Metropolitan Av
0.15 miles
Lorimer St
0.24 miles
Hewes St
0.29 miles
Broadway
0.32 miles
Marcy Av
0.38 miles

Citi Bike

Hope St & Union Ave
0.07 miles
Stagg St & Union Ave
0.13 miles
Devoe St & Lorimer St
0.22 miles
8
39
2

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: 61379TH