New York, NY 11205

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: No Pets Allowed

Financials

Price:$5,800,000
Annual Taxes:$11,892.16
578 Driggs Avenue Brooklyn, NY 11211
Listing Courtesy of eRealty Advisors, Inc

A rare Williamsburg opportunity two fully attached, all brick income producing buildings offered as a single package, featuring a combined 50 ft of frontage in one of Brooklyn s most ...

Description

A rare Williamsburg opportunity — two fully attached, all-brick income-producing buildings offered as a single package, featuring a combined 50 ft of frontage in one of Brooklyn’s most sought-after neighborhoods. Perfect for investors, developers, or end-users looking for scale and long-term upside. Set on two 25 × 100 ft lots, each building provides a 25 × 65 ft structure, allowing tremendous flexibility whether you choose to maintain the strong existing cash flow or reposition/redevelop into luxury rentals, condos, or mixed-use. Currently generating an impressive approx. $345,485 annual rent roll, the properties are fully occupied with stable tenants and additional upside potential. Both buildings feature mostly large 2-bedroom layouts with generous living spaces, plus a street-level retail unit at 34 Nostrand for additional consistent income. Recent upgrades include electrical and plumbing updated approximately 15 years ago, adding peace of mind to long-term operations. Property Breakdown: • 32 Nostrand Ave: 8 occupied units – spacious 2-bedroom layouts • 34 Nostrand Ave: 7 occupied units + retail store – large 2-bedroom layouts, strong retail component Operating Expenses: • Property Taxes: $12,839 (32 Nostrand) + $14,118 (34 Nostrand) Whether you’re seeking a stable income asset, looking to live and invest in Williamsburg, or considering a full redevelopment, this double-lot package delivers scale, location, and endless potential.

Amenities

  • Natural Gas Available

Long Island MLS

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.