Updated a year ago
Off Market
290-292 Leonard Street
Williamsburg, Brooklyn | Lorimer Street & Manhattan Ave
22 Rooms11 Beds6 Baths5,000 Square FeetMixed Use
$4,890,000
floors3
Lot Size42'x60'
Building TypeLow-Rise
RE Taxes$10,261
Price Per SF
$978
Outdoor space and views
- Backyard
- Terrace
Building Amenities
- Voice Intercom
Property Description for 290-292 Leonard Street
The Forray Team at The Corcoran Group is proud to present 290 & 292 Leonard Street, a rare side-by-side "Corner Portfolio Offering" in the heart of prime Williamsburg, Brooklyn. These two adjacent, fully occupied properties present an exceptional opportunity for investors to earn a stable income with upside in a low tax class 1 asset or developers to acquire a high-performing, income-generating asset with meaningful future development upside-whether through ground-up condo /mixed use development, expansion, or continued hold.
Combined, the properties feature five residential free market units and one commercial space, spanning nearly 5,000 square feet of gross space. Situated on a 42" x 60" combined lot and Zoned R7A, C2-4, this property offers total buildable of 10,080 SF with a maximum FAR of 4.0 and potential to max FAR to 5.01 FAR with affordable housing (all FAR estimations to be independently verified)
290 Leonard Street is a meticulously maintained 19-foot-wide two-family townhouse offering a spacious 3-bedroom, 2-bath owner's duplex with a private backyard, as well as a top-floor 2-bedroom, 1-bath apartment with its own terrace. The property blends classic exterior pre-war charm with thoughtful modern upgrades, including a finished cellar with laundry and storage. With annual taxes of just $4,490 (Tax Class 1), 290 Leonard Street delivers an Existing CAP rate of 5.47% and a pro forma CAP rate of 6.83%
Next door, 292 Leonard Street is a Corner 23-foot-wide mixed-use townhouse featuring a ground-floor commercial unit with direct backyard access, curb cut and a powder room, plus two spacious 3-bedroom, 1-bath residential apartments above. A full basement adds valuable storage and flexibility. With annual taxes of $5,771 (Tax Class 1), 292 Leonard Street offers an Existing CAP rate of 5.66% and a pro forma CAP rate of 6.16%.
Perfectly positioned on the Corner of Metropolitan Avenue and Leonard Street, a "Premium Retail Corridor" and just one block from the L and G subway lines. The Leonard Street Portfolio is surrounded by Williamsburg's most popular dining, shopping, parks, and cultural attractions. This portfolio is well-suited for an investor seeking stable, immediate income or a developer looking to maximize the potential of two contiguous lots in one of Brooklyn's fastest-growing and most vibrant neighborhoods.
Don't miss this rare opportunity to acquire a versatile, high income-producing portfolio with strong cash flow and long-term development upside-right in the heart of Williamsburg.
Combined, the properties feature five residential free market units and one commercial space, spanning nearly 5,000 square feet of gross space. Situated on a 42" x 60" combined lot and Zoned R7A, C2-4, this property offers total buildable of 10,080 SF with a maximum FAR of 4.0 and potential to max FAR to 5.01 FAR with affordable housing (all FAR estimations to be independently verified)
290 Leonard Street is a meticulously maintained 19-foot-wide two-family townhouse offering a spacious 3-bedroom, 2-bath owner's duplex with a private backyard, as well as a top-floor 2-bedroom, 1-bath apartment with its own terrace. The property blends classic exterior pre-war charm with thoughtful modern upgrades, including a finished cellar with laundry and storage. With annual taxes of just $4,490 (Tax Class 1), 290 Leonard Street delivers an Existing CAP rate of 5.47% and a pro forma CAP rate of 6.83%
Next door, 292 Leonard Street is a Corner 23-foot-wide mixed-use townhouse featuring a ground-floor commercial unit with direct backyard access, curb cut and a powder room, plus two spacious 3-bedroom, 1-bath residential apartments above. A full basement adds valuable storage and flexibility. With annual taxes of $5,771 (Tax Class 1), 292 Leonard Street offers an Existing CAP rate of 5.66% and a pro forma CAP rate of 6.16%.
Perfectly positioned on the Corner of Metropolitan Avenue and Leonard Street, a "Premium Retail Corridor" and just one block from the L and G subway lines. The Leonard Street Portfolio is surrounded by Williamsburg's most popular dining, shopping, parks, and cultural attractions. This portfolio is well-suited for an investor seeking stable, immediate income or a developer looking to maximize the potential of two contiguous lots in one of Brooklyn's fastest-growing and most vibrant neighborhoods.
Don't miss this rare opportunity to acquire a versatile, high income-producing portfolio with strong cash flow and long-term development upside-right in the heart of Williamsburg.
Listing History for 290-292 Leonard Street
Now
08/14/2025
TOM by Chris Cavorti
Corcoran
07/29/2025
$4,890,000
Initial Price by Chris Cavorti
Corcoran
Building Details for 290-292 Leonard Street
OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Floors3
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: 102042TH
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