5,000 GSF 7-Unit Building in the Heart of East Williamsburg

Description:

318 Humboldt Street is a 7-unit, multifamily building located in the heart of East Williamsburg. The building has seven (7) apartments, four of which have been converted to free-market units, while three remain rent-stabilized. The apartments are a mix of the railroad and two-bedroom units. The asset offers investors both a stable cash flow with significant remaining upside.

The property is situated in an ideal location on Humboldt Street between Ainslie and Powers Streets. It is around the corner from the L train stop at Grand Street. Tenants have close access to neighboring establishments that are currently popular, such as, the Meat Hook, Fortunato Brothers, and Desy’s Clam Bar.

The building is also within walking distance of Morgantown, a small enclave gaining notoriety as a creative hub, with numerous new retail, office, and hotel projects in the works, as well as popular eateries and bars such as Roberta’s, Ichiran, and Forrest Point.

318 Humboldt Street offers stable cash flow along with a great opportunity to add value to the rental income. As the surrounding neighborhoods continue to transform, the location offers tremendous growth potential.

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