Presenting an exceptional mixed-use investment opportunity at 17 Thames Street, strategically located in the heart of East Williamsburg. Set on a substantial 23.5'X100' lot, this well-maintained building is designed to maximize income and long-term value.
The Location Advantage:
The property boasts an unbeatable position, just a short walk from the Morgan Avenue L train. It is perfectly situated within one of Brooklyn's most dynamic corridors, surrounded by celebrated cafés, innovative restaurants, and bustling creative hubs-a true draw for both residential and commercial tenants.
Strong Income & Configuration:
Immediate stability is assured by the ground-floor retail space, which benefits from a newly signed 5-year lease. Above, the building offers approximately 1,700 square feet of residential space, configured as two spacious 2-bedroom, 1-bath apartments. Each unit features a functional layout, comfortable living areas, and excellent natural light, appealing directly to the neighborhood's high-demand rental market.
17 Thames Street delivers a powerful combination of proven income, quality assets, and an irreplaceable location, making it a turnkey investment for future growth.
Quick Profile
East Williamsburg is a mixed industrial neighborhood in Brooklyn, with many working factories that make everything from beer and wontons to clothing and concrete. You are likely to hear screeching, pounding and the deep thump of industrial machinery throughout the day. East Williamsburg has become a haven for artists and musicians of every description, who are attracted to the large open loft spaces of the converted industrial buildings. The area has attracted a younger crowd of 20- and 30-somethings that are drawn by affordable rents and a generally lower cost of living.
There is a rich history of immigrants from Puerto Rico and Italy, and oddly enough, they chose to settle on opposite ends of Graham Avenue, with the Italians on the north and the Puerto Ricans on the south.
Housing in the area consists of mid-rise apartment buildings, row houses, and public housing complexes. There are also smaller multi-family apartment buildings available. Lofts are becoming more prevalent as the older, abandoned factory buildings come up for sale and are converted into residential properties.
East Williamsburgfairly pulses with a creative vibe. There are unique shopping venues, numerous tiny coffee shops, interesting restaurants, and cafes, along with food trucks that frequent the area. The grocery stores are affordable and carry a wide variety of goods that appeal to the eclectic tastes of the neighborhood residents.
There is a vibrant bar scene, where you will find mostly local residents imbibing, so it is easy to make friends among your neighbors if you stop in frequently at your favorite watering hole. There are many interesting shops, bars and restaurants tucked in amongst the warehouses and factories. Many do not invest in elaborate signage, so it can be difficult to find some of the best spots. Keep an eye out for hand-painted signs on the sides of buildings with arrows pointing to nondescript, nearly invisible entrances.