Fully Vacant 7-Family Building

197 Johnson Avenue

East Williamsburg

Size 5,000 SF
Cross Streets Humboldt Street & Graham Avenue
Residential units 7
Subways
l
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Multifamily 197 Johnson Avenue, East Williamsburg
Matthew Cosentino
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Details

NOI $250,443
Zoning R6
Air Rights 1,075 SF

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 197 Johnson Avenue, a fully vacant, seven-unit property in East Williamsburg, Brooklyn.

Located between Graham Avenue and Humboldt Street, 197 Johnson Avenue provides the rare opportunity to acquire a fully vacant building in the East Williamsburg submarket. The four-story, seven-unit building is 5,000 SF set on a 25 ft x 100 ft with 1,075 SF of additional air rights. After doing a substantial rehabilitation, the building will become Free Market representing a projected annual rent of ~$296,400 and projected NOI of ~$250,443.

Attractions

The building is in one of the most prime sections of East Williamsburg — just one block away from the L train at Montrose Avenue providing a 15-minute commute to Union Square.

The retail development in this location has exploded with some of the best restaurants, bars, cafes and clothing stores opening in the immediate vicinity, including Win Son, The Well, Robertas, Ichiran, Champs Diner, The Anchored Inn, Our Wicked Lady, duckduck, and Sweet Science to name a few.

 

Win Son
The Well
Robertas
Ichiran
Champs Diner
The Anchored Inn
Our Wicked Lady
duckduck
and Sweet Science

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