Description

The Forray Team at The Corcoran Group is pleased to exclusively present 574 Metropolitan Avenue, a distinguished mixed-use frame building offering exceptional scale, income potential, and long-term upside in the heart of prime Williamsburg. Positioned along one of the neighborhood's most active commercial corridors and moments from McCarren Park, this property presents a compelling opportunity for investors, developers, and end-users seeking a trophy asset in one of Brooklyn's most dynamic markets.

The property spans approximately 3,840 gross building square feet and sits on a 24.75 ft 75.08 ft lot. Zoned R7A with a C2-4 commercial overlay, the asset benefits from a 4.0 FAR and approximately 3,592 square feet of remaining buildable area, allowing for a total buildable of 7,432 square feet. This zoning profile provides meaningful expansion, repositioning, or redevelopment potential. With annual real estate taxes of approximately $8,616 under favorable Tax Class 1 status, the property offers attractive carrying costs relative to its scale and location. Currently offered at a 5.23% Cap Rate.

The building is configured as three residential rental units over a ground-floor & lower level retail space, consisting of a 4-bedroom, 2-bathroom unit over a 4-bedroom, 2-bathroom unit over a studio apartment, with a commercial retail storefront. This layout provides strong income-producing capability while offering flexibility for an owner-occupant seeking supplemental rental income, a long-term investor targeting Williamsburg's resilient rental market, or a buyer exploring repositioning and value-add strategies.

Generous ceiling heights, multiple exposures, and prominent frontage along Metropolitan Avenue create an adaptable foundation for renovation, modernization, or vertical expansion. The mixed-use configuration further enhances revenue diversification and long-term appreciation potential.

Ideally situated near the intersection of Metropolitan Avenue and Lorimer Street and just moments from McCarren Park's expansive green space, recreational amenities, and year-round farmers market, 574 Metropolitan Avenue places occupants within immediate reach of Williamsburg's renowned dining, retail, nightlife, and cultural destinations. Convenient access to the L and G subway lines provides seamless connectivity to Manhattan and throughout Brooklyn.

Whether pursuing a cash-flowing mixed-use investment, an owner-occupied opportunity with income offset, or a development play leveraging significant unused FAR, 574 Metropolitan Avenue offers a rare combination of scale, zoning flexibility, and premier Williamsburg positioning.
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