718 Lorimer St Brooklyn, NY 11211
- Mixed-use properties
- 4,125 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 718 Lorimer St
- Property size
- 4,125 SF
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional three-story mixed-use building, located at 718 Lorimer Street in the heart of Williamsburg, Brooklyn, presents a compelling investment opportunity. The 4,125 square foot property boasts 100 feet of wraparound frontage on Lorimer and Richardson Streets, offering excellent visibility. The building comprises six units: five residential apartments and one ground-floor retail space currently occupied by a popular café. Four residential units are one-bedroom, one-bathroom apartments, while the ground floor unit offers three bedrooms and one bathroom, along with a sizable private backyard. All units are in good condition, presenting an opportunity for value enhancement through cosmetic renovations to capitalize on Williamsburg's strong rental market. The building's prime location is just half a block from McCarren Park, a 36-acre green space, and within easy reach of the vibrant dining, shopping, and nightlife that defines Williamsburg. Its proximity to the Bedford Avenue (L train) and Metropolitan Avenue (G train) subway stations further enhances its appeal. This tax-class 2A property offers significant in-place cash flow and substantial upside potential in one of Brooklyn's most desirable neighborhoods. The asking price is $3,950,000.
Value Estimation
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9499
- Latitude
- 40.7184
