Our team has been retained on an exclusive basis to facilitate the sale of 319 Broadway and 415 Broadway, two mixed-use buildings located on Williamsburg’s prime Broadway corridor. 319 Broadway is a newly built 11-unit elevator property with 31 years remaining on its 421a tax abatement, while 415 Broadway is a gut-renovated 9-unit mixed-use property designated under protected tax class 2B, ensuring permanently reduced assessments. Together, the properties deliver one of the rarest advantages in New York City multifamily investment—decades of predictable, low real estate taxes—anchored in one of the fastest-appreciating neighborhoods in the city.
The portfolio generates a current NOI of approximately $681K annually, with upside to nearly $790K through the natural lease turnover of below-market apartments and optimization of the commercial spaces. Featuring condo-quality finishes, private balconies, and efficient building systems, the assets are low-maintenance and well positioned to capture Williamsburg’s ongoing rent growth. Located steps from the J/M/Z subway and the Williamsburg Bridge, 319 and 415 Broadway present a rare opportunity to acquire tax-protected, mixed-use assets with stable in-place income and clear upside in one of Brooklyn’s strongest submarkets.
Our team has been retained on an exclusive basis to facilitate the sale of 319 Broadway and 415 Broadway, two mixed-use buildings located on Williamsburg’s prime Broadway corridor. 319 Broadway is a newly built 11-unit elevator property with 31 years remaining on its 421a tax abatement, while 415 Broadway is a gut-renovated 9-unit mixed-use property designated under protected tax class 2B, ensuring permanently reduced assessments. Together, the properties deliver one of the rarest advantages in New York City multifamily investment—decades of predictable, low real estate taxes—anchored in one of the fastest-appreciating neighborhoods in the city.
The portfolio generates a current NOI of approximately $681K annually, with upside to nearly $790K through the natural lease turnover of below-market apartments and optimization of the commercial spaces. Featuring condo-quality finishes, private balconies, and efficient building systems, the assets are low-maintenance and well positioned to capture Williamsburg’s ongoing rent growth. Located steps from the J/M/Z subway and the Williamsburg Bridge, 319 and 415 Broadway present a rare opportunity to acquire tax-protected, mixed-use assets with stable in-place income and clear upside in one of Brooklyn’s strongest submarkets.
Listing Courtesy of Compass
