697 Grand St, Brooklyn, NY, 11211
About This Home
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
Getting Around
Walker's Paradise
Very Limited Transit
Biker's ParadiseSchools
Construction
Condition
- Year built: 2005
Type & Style
- Home type: SingleFamily
- Property subType: Mixed Use
Interior
Bedrooms & Bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Interior Area
- Total structure area: 8,420
- Total interior livable area: 8,420 sqft
Property
Details
- Parcel number: 027820035
- Special condition: Resale
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Kings County and New York
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $20,175 | $242,100 |
| Home Insurance * | $529 | $6,348 |
| Property Taxes | $1,862 | $22,344 |
| Electricity | $1,391 | $16,697 |
| Total | $23,957 | $287,484 |
Income You'd Need if You Spent...
New York FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-15 | Listed for sale | $3,990,000 |
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