Alpha Realty announces the exclusive listing of 265 South 2nd Street, a $22 million, fully free-market multifamily building in Williamsburg. The gut-renovated, 35-unit asset offers condo-quality interiors, stable income, and a 5.8% cap rate in a prime Brooklyn corridor.
-- Alpha Realty brings to market 265 South 2nd Street, a fully free-market, 35-unit multifamily building in the heart of Williamsburg, Brooklyn. Priced at $22 million, the six-story walk-up offers turnkey construction, condo-quality interiors, and stable in-place income, delivering a 5.8% cap rate with no rent regulation restrictions.
Originally constructed as a classic prewar building, the property underwent a full gut renovation in 2016 and now spans approximately 24,108 square feet. All 35 apartments feature modern, condo-level finishes, including hardwood flooring, granite countertops, stainless steel appliances, and dishwashers. Building-wide amenities include a virtual doorman system, laundry room, and rooftop deck, offering a premium tenant experience within a walk-up format.
The property is 100 percent leased and generates an effective gross income of approximately $1.77 million, with a net operating income of $1.27 million. Its strong in-place income, free-market rent roll, and lack of deferred maintenance make it well-positioned for investors seeking long-term cash flow and minimal operational friction.
Strategically located between Marcy Avenue and Havemeyer Street, 265 South 2nd Street sits within walking distance of multiple subway lines, including the J/M/Z trains at Marcy Avenue and the L/G trains at Metropolitan Avenue. This convenient access to multiple subway lines provides residents with seamless connections to Manhattan, Greenpoint, Bushwick, and Downtown Brooklyn. The building also benefits from close proximity to Bedford Avenue, Grand Street, McCarren Park, and Domino Park, some of Williamsburg’s most popular lifestyle and retail corridors.
“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.”
As investor interest in stabilized, free-market Brooklyn assets remains high, 265 South 2nd Street stands out for its rare combination of scale, quality, and location. With limited inventory available in the submarket, Alpha Realty expects strong buyer demand from 1031 exchange investors, long-term holders, and private equity-backed groups focused on defensive, income-generating assets.
To view the full deal overview and property details, visit: https://www.alpharealtyny.com/williamsburg-multifamily-for-sale-22m-turnkey-free-market/
About Alpha Realty
Alpha Realty is a New York City–based investment sales brokerage firm specializing in multifamily and mixed-use properties. Founded by Lev Mavashev in 2014, the firm has quickly become one of the most active and respected players in the NYC commercial real estate market. With deep experience across Brooklyn, Manhattan, and the outer boroughs, Alpha Realty combines local market expertise with hands-on deal execution, delivering consistent results across transactions of all sizes.
About the company: Commercial Lending News delivers expert reporting and industry analysis across commercial real estate, lending, banking, finance, and investment sectors. From interest rate trends to major acquisitions and market-shaping technologies, our coverage connects decision-makers to the insights that drive the future of business and investment.
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