319 Broadway
Brooklyn, NY 11211
Cross street:Rodney Street

Building

Type:Low-rise
Era:Pre-war
Floors:6

Property

Ownership: Rental Property
Rooms: 31
Bedrooms: 2 BR
Bathrooms: 1
Pets: Pets Unknown

Financials

Price:$13,000,000
578 Driggs Avenue Brooklyn, NY 11211
Listing Courtesy of Compass

Our team has been retained on an exclusive basis to facilitate the sale of 319 Broadway and 415 Broadway, two mixed use buildings located on Williamsburg s prime Broadway corridor.

Description

Our team has been retained on an exclusive basis to facilitate the sale of 319 Broadway and 415 Broadway, two mixed-use buildings located on Williamsburg’s prime Broadway corridor. 319 Broadway is a newly built 11-unit elevator property with 31 years remaining on its 421a tax abatement, while 415 Broadway is a gut-renovated 9-unit mixed-use property designated under protected tax class 2B, ensuring permanently reduced assessments. Together, the properties deliver one of the rarest advantages in New York City multifamily investment—decades of predictable, low real estate taxes—anchored in one of the fastest-appreciating neighborhoods in the city. The portfolio generates a current NOI of approximately $681K annually, with upside to nearly $790K through the natural lease turnover of below-market apartments and optimization of the commercial spaces. Featuring condo-quality finishes, private balconies, and efficient building systems, the assets are low-maintenance and well positioned to capture Williamsburg’s ongoing rent growth. Located steps from the J/M/Z subway and the Williamsburg Bridge, 319 and 415 Broadway present a rare opportunity to acquire tax-protected, mixed-use assets with stable in-place income and clear upside in one of Brooklyn’s strongest submarkets.

Amenities

  • Balcony
  • Air Conditioning
  • Elevator

Neighborhood

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RLS Data display by Nest Seekers LLC.

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. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.