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Listing Courtesy of Corcoran Group
$ 4,890,000
Est. payment /mo
New
290-292 LEONARD Street Brooklyn, NY 11211
11 Beds
6 Baths
4,025 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,025 sqft
Price per Sqft $1,214
Subdivision Williamsburg,North
MLS Listing ID RLS20039156
Bedrooms 11
Full Baths 5
Half Baths 1
HOA Y/N No
Property Sub-Type Mixed Use
Property Description
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.
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.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Interior Features Smoke Free
Cooling Other
Fireplace No
Appliance Washer Dryer Allowed
Laundry Washer Hookup, In Unit
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft
View Y/N Yes
View Other
Porch Patio, Terrace
Private Pool No
Building
Dwelling Type Mixed Use
Story 1
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Special Listing Condition Standard
Pets Allowed Building Yes, No
RLS Data display by Elegran