Brick Two-Family
For Sale
$1,699,000
156 Bay 46th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size2,052 SF
Lot Size0.06 Acres
Price / SF$827.97
Days on Market12
Property Features for 156 Bay 46th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Interior features
A/C Unit
Basement
Finished
Subdivision
Bath Beach
Standard status
Active
Size
2,052 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
10302
Amenities
private driveway
finished basement
Building Details
Year built
1962
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Bove Real Estate
(718) 680-3333
Listed By:
Alphonse J. Bove · License #AB1851
(718) 680-3333
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 24 at 10:06AM
MLS# 503765
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1962 brick duplex contains 2,052 square feet and is arranged as a two-family residence. The property includes hardwood flooring, A/C units, a flat roof, and a finished basement with its own entrance. A private driveway provides off-street parking, while the R5 zoning supports its residential multifamily classification.
The home occupies a 0.0632-acre lot in Brooklyn’s Bath Beach area. The property is near the D train, local and express bus service, waterfront parks, schools, restaurants, and shopping and dining along 86th Street. Its residential-block setting combines neighborhood access with proximity to established transportation and commercial amenities.
The home occupies a 0.0632-acre lot in Brooklyn’s Bath Beach area. The property is near the D train, local and express bus service, waterfront parks, schools, restaurants, and shopping and dining along 86th Street. Its residential-block setting combines neighborhood access with proximity to established transportation and commercial amenities.
Key Highlights
- Two‑family duplex with 2,052 square feet
- 0.0632‑acre lot with a private driveway
- Finished basement with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,968
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,119,360
$1.1M
Cap Rate 7%
$799,543
$799.5K
Cap Rate 9%
$621,867
$621.9K
Market Conditions
NOI Build-Up for 2,052 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$83.7K $40.80/SF
− Vacancy
−$3.8K −$1.84/SF
EGI
$80.0K $38.96/SF
− OpEx
−$24.0K −$11.69/SF
NOI
$56.0K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,119,360
Cap Rate 7%
$799,543
Cap Rate 9%
$621,867
Alternative Uses
Best Use
Multifamily LT 5
$799.5K
$699.6K – $932.8K
NOI $55,968 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$716.6K
$627.0K – $836.0K
NOI $50,160 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,793 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with a private driveway, finished basement, and separate lower-level entrance.
Where is this duplex located?
The property is located at 156 Bay 46th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Two‑family duplex with 2,052 square feet; 0.0632‑acre lot with a private driveway; Finished basement with separate entrance
