445 Grand St

Marcus & Millichap is pleased to exclusively bring to market 445 Grand Street, a striking mixed-use property in the heart of Williamsburg, Brooklyn. Ideally situated on Grand Street between Keap Street and Union Avenue, the Property marries immediate income with long-term upside, offering investors and end-users alike a rare canvas to create something truly special. The existing building is built full on the ground floor, measuring 25’ by 95’. The two upper floors extend 25’ by 50’, bringing the total above-grade area to 4,875 square feet, with an additional 2,250 square feet of buildable rights for a combined 7,125 buildable square feet. The property is located in an M1-2/R6A/MX-8 mixed-use district, offering a unique level of flexibility for both investors and end-users. 445 Grand provides several compelling pathways for value creation. A new owner may choose to maintain the property in its current form, benefiting from immediate and steady cash flow by re-renting the two market-rate residential units while also collecting income from the existing ground floor retail spaces. Alternatively, the upper floors could be reimagined as a grand duplex residence, creating an ideal live-plus-investment opportunity that combines modern residential living with stable retail income below. The short-term lease structure on the retail space adds further optionality, allowing an investor to enjoy income security while simultaneously designing their own gallery, showroom, or other commercial use. The ground floor, approximately 2,375 SF, immediately impresses with soaring ceilings boasting original character throughout. Reinforced by its defined gallery-like atmosphere — a perfect blend of industrial strength and artistic possibility. Natural light cascades across the two floor-through apartments on the 2nd and 3rd floors, highlighting warm wood finishes and creating a setting equally suited for a private creative studio and living space or a modern live/work loft. The seamless transition between indoors and outdoors extends the experience further on the 2nd floor, allowing for exhibitions, entertaining, or a quiet personal retreat on the 25’ x 45’ private outdoor terrace. Both apartments on the upper floors are currently situated as 2 Bedroom units and can comfortably be converted into 3 BR units. For the visionary, the additional air rights provide yet another dimension — the ability to expand upward and sculpt a boutique development or expand a personal residence that rises above the bustling streetscape. Whether it becomes a contemporary townhome in the sky with gallery space on the ground level, a creative loft-inspired sanctuary, or a bespoke multi-level condo conversion. Delivered with residential units vacant, the Property enables immediate capture of Williamsburg’s burgeoning residential rental market. Surrounded by acclaimed restaurants, art galleries, and the dynamic pulse of Brooklyn’s most magnetic neighborhood, the Property is also grounded in convenience — with direct access to the L,G, J, M, and Z subway lines as well as the NYC Ferry. 445 Grand Street represents a flexible investment at a favorable basis: a rare blend of stable income, buildable upside, and the opportunity to craft a trophy duplex or boutique development at the nexus of Brooklyn’s most dynamic neighborhood. Highlights: • Prime Williamsburg Mixed-Use Building with 2 Residential + 1 Retail Unit • Built 25’ x 95’ on Ground Floor | 25' x 50' on Upper 2 Floors | 4,875 SF Above Grade | Additional 2,250 Buildable SF • Situated on a 25’ x 95’ Lot Zoned M1-2/R6A/MX-8 | FAR: 3.0 • Asking Price: $4,495,000 | $922 PSF | Condo’s in Immediate Area selling for north of $1,800 PSF • Residential Units Delivered Vacant | Significant Upside in Pro Forma Rents • Perfect Live Plus Income Opportunity or Townhouse Redevelopment with Art Gallery on Ground Floor • Protected Tax Class | Extremely Low Tax Bill | $6,717 Annually | Tax Class 1