Turnkey assets are rare in Williamsburg—especially at scale. Alpha Realty’s latest exclusive listing at 265 South 2nd Street offers 35 fully free-market apartments in a gut-renovated, income-producing building just steps from Marcy Avenue and Havemeyer Street.
Priced at $22 million, this six-story walk-up delivers condo-level interiors, stabilized operations, and a 5.8% cap rate in one of Brooklyn’s most competitive rental corridors. With high-quality inventory in short supply, this listing presents one of the strongest free-market multifamily opportunities currently available in Williamsburg.
Williamsburg Multifamily Building Overview: 265 South 2nd St
- Asset Type: 6-story walk-up multifamily building
- Location: 265 South 2nd Street, Williamsburg, Brooklyn, NY 11211
- Neighborhood: Prime Williamsburg between Marcy Ave & Havemeyer St
- Total Units: 35 residential apartments
- Status: 100% Free-Market
- Square Footage: ~24,108 SF
- Year Renovated: 2016 (gut renovation)
- Finishes: Condo-quality interiors with hardwood floors, granite countertops, stainless steel appliances, dishwashers
- Amenities: Virtual doorman, laundry room, rooftop deck
- Effective Gross Income: ~$1.77M
- Net Operating Income (NOI): ~$1.27M
- Cap Rate: 5.8%
- Gross Rent Multiplier: 12.4x
- Asking Price: $22,000,000
- Broker: Lev Mavashev, Alpha Realty
Renovation to Revenue: Turning a Prewar Building into a Prime Williamsburg Asset
Renovation to Revenue: Turning a Prewar Building into a Prime Williamsburg AssetOriginally constructed as a traditional prewar walk-up, 265 South 2nd Street underwent a full gut renovation in 2016, elevating the property to modern standards and long-term operational efficiency. The ownership upgraded all 35 apartments with condo-quality interiors, including hardwood flooring, granite countertops, stainless steel appliances, and in-unit dishwashers.
They also added building-wide amenities such as a virtual doorman system, a shared laundry room, and a rooftop deck. These features help enhance tenant retention and support stable cash flow. Today, the asset operates as a fully stabilized, 100 percent free-market building with no deferred maintenance and no renovation needs.
Williamsburg Remains One of Brooklyn’s Most Reliable Investment Corridors
Widely considered one of New York City’s most desirable rental neighborhoods, Williamsburg offers a blend of culture, connectivity, and stability that continues to attract both tenants and investors. The neighborhood’s long-standing appeal is rooted in its walkability, creative energy, and strategic location on the East River—just one subway stop from Manhattan.
265 South 2nd Street sits between Marcy Avenue and Havemeyer Street, less than a 10-minute walk from the Marcy Avenue J/M/Z station, which offers direct access to the Lower East Side and Midtown. The Metropolitan Avenue/Lorimer Street L and G trains are also within walking distance, providing fast connections to Williamsburg’s northern edge, Greenpoint, Bushwick, and central Brooklyn. Access to multiple subway lines gives residents seamless connectivity to major employment hubs and cultural districts across the city.
Tenants enjoy immediate proximity to Williamsburg’s most vibrant commercial corridors, including Bedford Avenue and Grand Street, home to acclaimed restaurants, independent retailers, coffee shops, and boutique fitness studios. McCarren Park, Domino Park, and the East River Ferry terminal are also nearby, expanding lifestyle appeal beyond the typical walk-up rental experience.
For investors, this location offers more than just tenant demand—it provides long-term insulation from volatility. With 35 leased free-market units and condo-quality interiors, 265 South 2nd Street attracts high-credit tenants seeking long-term stability and convenience. Its scale, income profile, and asset quality make it equally well-suited for long-term hold strategies, 1031 exchange buyers, or private operators focused on cash flow with minimal day-one risk.
Why 265 South 2nd Is Built for Today’s Market
In today’s regulatory environment, it’s increasingly rare to find multifamily assets that combine scale, stability, and a 100 percent free-market rent roll, especially in a prime Brooklyn location.
This property checks every box:
- Fully turnkey asset with high-end finishes
- 100% free-market apartments with strong in-place income
- Located in a top-performing Williamsburg submarket
- Gut-renovated building with no deferred maintenance
“This is a turnkey investment opportunity in one of Brooklyn’s most desirable rental corridors,” said Lev Mavashev, Managing Principal at Alpha Realty. “Fully free-market, fully renovated, and steps from top-tier amenities and transit, this asset checks all the boxes.”
Interested in 265 South 2nd Street? View the full listing here or contact Lev Mavashev and the Alpha Realty team to schedule a tour or request additional information.