427 Metropolitan Avenue
Multifamily
Gut-renovated townhouse: A redeveloped three-story walk-up taken to the studs and body envelope —mechanical systems, kitchens, baths, and facades rebuilt.
Free-market income with embedded value-add upside: Every unit is free-market, with full exposure to rent growth and no rent-regulation overhang. Additional upside with duplex garden unit buildout and mark to market lease-up.
R6 zoning: A moderate-density district permitting as-of-right expansion, rare among Williamsburg's low-rise, three-family townhouse stock.
Transit at the corner: The L/G at Lorimer Street and Metropolitan Avenue is roughly 0.1 miles away —Transit Score 96, Walk Score 99.
At the epicenter of NYC’s most sought-after live/work/play neighborhood: North Williamsburg - world-class restaurants, celebrated cocktail bars, waterfront parks, and a thriving creative economy that continues to set the standard for urban living.
A lean carry: $6,397in annual real estate taxes under holds operating cost well below the borough norm.
The apartments have high ceilings, deep rooms, and oversized windows — refreshed throughout with new windows, new kitchens, new baths, refinished floors, and new mechanical systems.
The building holds three free-market units — eight bedrooms and six baths in all — with a private yard off Unit 1 and an opportunity to build out the basement space and the air rights. A highly tax-efficient walk-up with a virtual doorman ButterflyMx intercom and low operating expenses.
McCarren Park is a seven-minute walk north, with Marlow & Sons, Diner, and Brooklyn Brewery close by — and Manhattan under fifteen minutes from the corner.