290-292 Leonard Street 2 biens | À vendre | 4 281 342 € | Brooklyn, NY

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.