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155 Grand St. ALL UNITS, Brooklyn, NY 11211

$18,500/mo
Listing Details:
$18,500 Price
Condo Property Type
Williamsburg Neighborhood
-- Beds
2.5 Baths
4,011 Approx. Sq. Ft.
Key Features:
Prewar
Elevator
Unit Garden
Description:

Prime Flagship Retail & Mixed-Use Property for Lease with Option for Purchase. Located in North Williamsburg's Highest Priced Retail and Residential Corridors. Introducing an extraordinary opportunity for ownership of 155 Grand Street, it defines "prime real estate" in Williamsburg. Nestled on Grand Street between Bedford Avenue & Berry Street, this prime retail location boasts some of the highest asking retail rents in North Williamsburg and Tops Brooklyn retail charts as well. As reported in the REBNY 2017 Summer report asking rents on Grand Street Averaged $125/SF. With no significant moderation to the property, the building can project an income performance North of 6.34% CAP RATE in a purchase scenario. Existing Building & Property Features: Current Zoning is R6B, C2-4. Set on a 21' X 75' lot, the existing 3-story full-masonry building is ~ 4,000 SF above grade. A full-height cellar offers an additional ~ 1,575 gross SF. It currently consists of 3X income-producing units: The vacant ground floor retail space boasts soaring 10'+ ceiling height, HVAC and charming exposed brick. The 2nd floor unit is an oversized 2 bed/1 bath with large outdoor terrace and a loft-like layout. A spacious 3 bed/1 bath unit is set on the top floor. The triple-exposure allow for abundant natural sunlight in both full-floor apartments. Unique details include: 9'+ high ceilings, original hardwood flooring, moldings and exposed brick throughout. This stately address can be easily converted to a ~2,436 SF duplex residence with substantial commercial rental income potential.The central location is minutes away from the Bedford L and Broadway-Marcy J, M, Z subway stations and the NYC Ferry on Kent. Located in the epicenter of Williamsburg Northside. This food, tourist and shopping mecca has seen a dramatic transformation that is on par with the top destinations in New York City. The presence of major chains, national retailers, luxurious new developments and hotels have triggered the vibrant revitalization of Williamsburg, Brooklyn. Unquestionably, this is a "not-to-be missed" opportunity!

Listing courtesy of The Corcoran Group

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