Nine-Unit Apartment
For Sale
$8,000,000
176 Prospect Park W, Brooklyn, NY 11215
Residential, Brooklyn, NY
Property Size14,200 SF
Lot Size0.09 Acres
Price / SF$563.38
Days on Market360
Property Features for 176 Prospect Park W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 5, Bathroom 6, Bathroom 7, Bathroom 2, Bathroom 8, Bathroom 4, Bathroom 3, Bathroom 9, Bathroom 1
Interior features
Dishwasher, Dryer, Washer
Basement
Finished
Subdivision
Park Slope
Standard status
Active
Size
14,200 SF
Lot size
0.09 Acres
Amenities
back yard
rooftop
Building Details
Year built
1902
Floors in Building
4
Flooring type
Hardwood, Tile, Laminate
Building materials
Masonry
Roof type
Rubber, Flat
Listing Agency:
Bellmarc
Listed By:
Ali Tom · License #AT7155
(718) 768-4500
Added: Oct 7, 2025
Changed: Sep 15
Last Checked: Oct 1 at 3:06PM
MLS# 496423
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.
Built in 1902, this masonry apartment property contains nine four-bedroom, one-bath residences within a four-story walk-up configuration. The building provides approximately 14,200 square feet of total living space, with apartments averaging about 1,400 square feet each. A full unfinished basement includes windows and yard access, while the property also features a spacious rear yard, hardwood, tile and laminate flooring, and a flat rubber roof. A new gas boiler and new roof are among the recent building improvements.
The property occupies a 41-by-98-foot lot with a 41-by-85-foot building footprint and is zoned R7A. Located at 176 Prospect Park West in Brooklyn’s Park Slope, the building is positioned across from Prospect Park and offers access to the F train. The surrounding context includes Prospect Heights and Gowanus, with neighborhood retail and recreational amenities identified nearby.
The property occupies a 41-by-98-foot lot with a 41-by-85-foot building footprint and is zoned R7A. Located at 176 Prospect Park West in Brooklyn’s Park Slope, the building is positioned across from Prospect Park and offers access to the F train. The surrounding context includes Prospect Heights and Gowanus, with neighborhood retail and recreational amenities identified nearby.
Key Highlights
- Nine four‑bedroom, one‑bath apartments
- Approximately 14,200 SF of total living space
- Four‑story masonry walk‑up built in 1902
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
$433,511
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
5.42%
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%
$8,670,220
$8.7M
Cap Rate 7%
$6,193,014
$6.2M
Cap Rate 9%
$4,816,789
$4.8M
Market Conditions
NOI Build-Up for 14,200 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
$804.3K $56.64/SF
− Vacancy
−$16.1K −$1.13/SF
EGI
$788.2K $55.51/SF
− OpEx
−$354.7K −$24.98/SF
NOI
$433.5K $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%
$8,670,220
Cap Rate 7%
$6,193,014
Cap Rate 9%
$4,816,789
Alternative Uses
Best Use
Apartment 5plus
$6.19M
$5.42M – $7.23M
NOI $433,511 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.76M
$10.29M – $13.72M
NOI $823,032 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,427
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four-story walk-up multifamily property with a full basement, rear yard, and original architectural details.
Where is this apartment building located?
The property is located at 176 Prospect Park W Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Nine four‑bedroom, one‑bath apartments; Approximately 14,200 SF of total living space; Four‑story masonry walk‑up built in 1902
