697 GRAND Street
$3,990,000
MLS# RLS20103151 · Williamsburg
Listed July 13, 2026 · 121 days on the market
8 Beds 4 Baths 8,420 Sq.Ft.
About This Property
Introducing 697 Grand Street - A 3 story, 8420 SF mixed use building in the heart of thriving East Williamsburg. Boasting over 25' of frontage in this super-prime corridor, the property presents a rare opportunity to acquire a stable, income producing asset, with tremendous upside in its buildability and conversion to free market status. Solid 2005 build with steel & masonry construction, offered in excellent condition, with 4 residential units and 1 commercial space. The apartments are 900SF each, configured as 2 bedroom/1 bath units, with large proportions and modern finishes. Each unit has its own hot water heater, and is individually metered for gas and electric, keeping ownership costs to a minimum. The commercial space runs the full span of the building, with full glass frontage along Grand Street, plus basement and open back lot area. Massive potential with >4500 SF of buildable area, and an ideal setback on the second floor to create. The 421A tax exemption expires in 2033, deregulating the property to free market status, and robust rent growth. Desirable 2A tax class ensures a stable, predictable budget. Exceptional East Williamsburg location, minutes from both Graham Avenue and Grand Street "L" subways, with flourishing residential and commercial development in every direction. Triple-wide sidewalk and protected bike lane directly outside.
INVESTMENT HIGHLIGHTS
Superb Grand Avenue (Graham/Powers St) location with >25' frontage
Built in 2005 with steel/masonry construction
Separate hot water heaters & gas/electric meters for each unit
>4500 buildable SF
421A Tax abatement expires in 2033
Upside to 6.5% Cap Rate with free market rents
Protected 2A Tax Class
Lot dimensions: 26 ft X 125 ft
Lot SF: 3,238
Building dimensions: 25.83 ft x 96.12 ft
Building SF: 8,420
Mixed Use Building
4 Residential Units. 1 Commercial Space
Current FAR: 2.60
FAR: 4
Buildable Area: 4533 SF
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Corcoran Group.
Each of the four apartments at 697 Grand Street has its own hot water heater and its own gas and electric meter, so utility bills for each unit are kept separate from the others. The building is three stories and 8,420 square feet, built in 2005 with steel and masonry construction, and the listing describes it as being in excellent condition.
Every apartment is about 900 square feet, and the listing describes large proportions and modern finishes. It also includes a washer and dryer in the unit. In-unit laundry matters more in New York than people expect, and it's already in place here, so there's one everyday task you won't need to plan around.
The ground floor space stretches across the whole width of the building, with glass along the Grand Street side, and it includes a basement and an open back lot. The lot measures 26 feet by 125 feet, which gives the building a usable outdoor area behind it. It's worth walking the back lot in person to see how it connects to the building.
Two L stations are close by.
The Graham Avenue and Grand Street L stations are about 5 and 6 minutes on foot, and the Lorimer Street G and L stop is about 9 minutes. Martinez Playground is about 4 minutes away, and To The World Farm is about 2 minutes away for groceries, with Bravo about 4 minutes off. Pets are allowed, the building is smoke-free, and the listing lists it as a green building.
Quick answers+
Does the building have in-unit laundry?
Yes. There is a washer and dryer in the unit.
Does each unit have its own hot water heater?
Yes. Each unit has a hot water heater of its own, and its gas and electric usage is metered separately.
Are pets allowed?
Yes. Pets are allowed, and the building is smoke-free.
Curtis Bain
Brown Harris Stevens
Property Features
Policies
- Pets allowed
- Smoke-free
Home features
- Washer/dryer in unit
Building amenities
Services and facilities
- Green building
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$22,730 / month
- Principal and interest$20,176
- Property taxes$2,554
Due at closing
- Down payment (20%)$798,000
- NYS “mansion tax” (1.5%)$59,850
- Mortgage recording tax (1.925%)$61,446
Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
About the Building
697 Grand Street is a 3-story mixed-use residential in Williamsburg, completed in 2005 and home to 4 residential units.
The closest subway is Graham Av (L), about a 5-minute walk. Martinez Playground is roughly 4 minutes away on foot.
Compiled from NYC public records and open data.
- Year Built
- 2005
- Stories
- 3
- Units
- 4
- Building Type
- Mixed-Use Residential
Location & Nearby
Map
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697 GRAND Street
Subway
- LGraham AvAbout 5 min walk
- LGrand StAbout 6 min walk · Accessible
- GLLorimer StAbout 9 min walk · Accessible
- LMontrose AvAbout 10 min walk
Parks
- Martinez PlaygroundAbout 4 min walk
- Ten Eyck PlaygroundAbout 9 min walk
- Sternberg ParkAbout 9 min walk
Public schools · Elementary schools
- P.S. 18 Edward BushAbout 3 min walk
- P.S. 132 The Conselyea SchoolAbout 6 min walk
- P.S. 196 Ten EyckAbout 9 min walk
Middle schools
- Brownsville Collegiate Charter School · CharterAbout 9 min walk
- M.S. 582About 9 min walk
High schools
- Lyons Community SchoolAbout 4 min walk
- The Williamsburg High School of Art and TechnologyAbout 4 min walk
Colleges & universities
- Boricua CollegeAbout 19 min walk
Walking times are estimates. Schools shown are the nearest public and charter schools and are not zone assignments; a nearby school is not necessarily the one an address is zoned for. Confirm zoning with the NYC Department of Education. Sources: MTA, NYC Parks and NYC Department of City Planning open data.
The Neighborhood
About Williamsburg
Brooklyn's premier waterfront neighborhood with panoramic Manhattan views and a thriving creative lifestyle.
Walkability
9/10
Public transit
8/10
Schools
7/10
Dining
9/10
Groceries & parks
8/10
Schools in Williamsburg
A diverse range of school options with an expanding network of charter and community schools.
Private schools in the area include Williamsburg Northside School.
Similar homes in Williamsburg
Gallery
Property Photos
Listing Courtesy of Corcoran Group
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.