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South Williamsburg Residential Portfolio

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Address: 310 Wythe Ave, Brooklyn, NY 11249, USA

New York & Tri-State + Apartment Buildings

Created date: February 29, 2024

Date last updated: March 26, 2025

Coveted NeighborhoodWilliamsburg Brooklyn is one of the most rapidly gentrifying neighborhoods in New York City, providing the vibrancy, convenience, and lifestyle amenities sought by the young professionals driving the current surge in New York City residential rents.
Ideal Investment ProfileThe portfolio is fully leased and cash flowing, with virtually no downside risk.
Attractive BuildingsAll four of the buildings in the portfolio are attractive and well-maintained, presenting an historic aesthetic that appeals precisely to the young, hip residents of South Williamsburg.
Market Rate Units27 of the portfolios 33 units are “fair market”, allowing an investor to capture market gains on an annual basis – a critical advantage, given the rapidly rising rents in the district.
Favorable Tax TreatmentThree of the four buildings are Tax Class 2B, limiting real estate tax increases and thus protecting cash flow growth.
Increasing RentsYear-over year average apartment rents increased 34.2% in Williamsburg, more than any other Brooklyn neighborhood – one-bedroom apartments are now renting for more than $3,600 per month on average in Williamsburg.
South Williamsburg AdvantageWhile the gentrification of North Williamsburg is nearing maturity, South Williamsburg remains authentic and relatively affordable – strong residential demand, with significant additional rent growth.
Development BoomDevelopers are moving aggressively into South Brooklyn, with recent major developments in immediate proximity to all four of the portfolio’s buildings, elevate the stature of the location and driving additional rent growth within the portfolio.

Property Description

Upland Property Advisors, as exclusive agent, is pleased to offer for sale the fee simple interest in a portfolio of four South Williamsburg apartment buildings located at 431-433 Wythe Avenue, 310 South 4th Street, and 313 South 4th Street. The well-maintained, fully-leased portfolio presents an attractive low-risk investment profile with significant opportunities to grow rents. This upside can be unlocked through target cosmetic renovations and through mark-to-market opportunities in this fashionable and rapidly appreciating Brooklyn neighborhood.