Five-Unit Corner
For Sale
$5,750,000
Pending
165 St Johns Place, Brooklyn, NY 11217
Residential Income, Brooklyn, NY
Property Size5,726 SF
Days on Market69
Property Features for 165 St Johns Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 7, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 9, Bedroom 8, Bathroom 5, Bathroom 1, Bedroom 3, Bathroom 3
Subdivision
Park Slope
High school district
000000
Standard status
Pending
Size
5,726 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Paul Murphy · License #30MU1104939
Added: Jun 17
Changed: Aug 23
Last Checked: Aug 24 at 12:06AM
MLS# 11841530
Copyright © 2026 My State MLS. 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 5,726-square-foot, five-story corner brownstone was constructed in 1881 and is arranged as five floor-through apartments. The property will be delivered vacant and retains an extensive collection of period features, including carved walnut woodwork, pier mirrors, encaustic tile, pocket doors, plaster medallions, crown moldings, tin ceilings, marble fireplace mantels, and the original newel post and staircase. The parlor level has ceilings exceeding 12 feet, while the garden level opens directly to the rear yard.
The building occupies a 22-foot-wide corner footprint with 54 windows oriented south, east, and west. Its backyard measures 44 feet deep by 28 feet wide and provides views toward St. John's Church. The property is near Grand Army Plaza, Prospect Park, and the Farmer's Market, with the 2/3/B/Q subway lines one block away.
The building occupies a 22-foot-wide corner footprint with 54 windows oriented south, east, and west. Its backyard measures 44 feet deep by 28 feet wide and provides views toward St. John's Church. The property is near Grand Army Plaza, Prospect Park, and the Farmer's Market, with the 2/3/B/Q subway lines one block away.
Key Highlights
- 5,726 square feet across five stories
- Five floor‑through apartments delivered vacant
- 1881 construction with extensive original interior details
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
$174,809
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
3.04%
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%
$3,496,180
$3.5M
Cap Rate 7%
$2,497,271
$2.5M
Cap Rate 9%
$1,942,322
$1.9M
Market Conditions
NOI Build-Up for 5,726 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
$324.3K $56.64/SF
− Vacancy
−$6.5K −$1.13/SF
EGI
$317.8K $55.51/SF
− OpEx
−$143.0K −$24.98/SF
NOI
$174.8K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,496,180
Cap Rate 7%
$2,497,271
Cap Rate 9%
$1,942,322
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.91M
NOI $174,809 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.74M
$4.15M – $5.53M
NOI $331,879 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
8,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
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?
Apartment building - Vacant Park Slope townhouse with preserved architectural details, multiple exposures, and a private wooded rear garden.
Where is this apartment building located?
The property is located at 165 St Johns Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 5,726 square feet across five stories; Five floor‑through apartments delivered vacant; 1881 construction with extensive original interior details
