Property Description

The Forray Team at The Corcoran Group is pleased to present 290 Leonard Street, a beautifully maintained 19-foot-wide two-family townhouse that seamlessly blends historic charm with modern comfort in the heart of prime Williamsburg. This is a true triple-threat opportunity-investors can achieve immediate upside in a highly desirable location while enjoying the security of a stable asset with an Existing CAP rate of 5.47% and a projected Pro forma CAP rate of 6.83%. End-users also benefit from the flexibility to live in the spacious duplex while earning strong rental income, and the property's layout lends itself perfectly to a potential single-family conversion.

Built in 1910, with an estimated total of 2,025 Gross SF: 1,955-square-foot of residential area & plus an additional 300-square-foot cellar, showcases beautifully preserved pre-war exterior details alongside thoughtful modern updates, all while maintaining low annual real estate taxes ($4,490) under the protection of Tax Class 1 status. With R7A, C2-4 zoning, this property also offers generous development potential, featuring an FAR of 4.0.

The spacious potential owner's duplex (3BR/2BA) spans the garden and parlor levels, featuring a warm and inviting living area, an expansive kitchen with stainless steel appliances, granite countertops, and direct access to a private backyard-ideal for outdoor dining, entertaining, or quiet relaxation. Upstairs, two generously sized bedrooms provide flexible space for a home office, nursery, or guest room, along with a full bathroom. The duplex is further enhanced by an additional cellar space with laundry and ample storage.

The top-floor apartment (2BR/1BA) offers its own distinct charm, with a bright living room, a windowed kitchen, an oversized bedroom with room for a home office, and direct access to a private terrace overlooking the vibrant streets of Williamsburg.

Perfectly located near Metropolitan Avenue and just one block from the L and G subway lines, 290 Leonard Street places you moments from Williamsburg's best dining, shopping, parks, and conveniences. Whether you're seeking a primary residence with additional income, a stable investment with upside, or the perfect canvas for a single-family conversion, this property offers a rare blend of space, value, and location in one of Brooklyn's most dynamic neighborhoods.

Property Features