Five-Story Brownstone
For Sale
$2,995,000
183 Lefferts Place, Brooklyn, NY 11238
MULTI_FAMILY - Brooklyn, NY
Property Size4,020 SF
Lot Size0.09 Acres
Price / SF$745.02
Days on Market90
Property Features for 183 Lefferts Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 6, Bathroom 5, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 5
Subdivision
Bedford-Stuyvesant
High school district
000000
Directions
Lefferts Place between Franklin Ave and Classon Ave. Closest train: Franklin Ave C train.
Standard status
Active
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
5532
Utilities
Heating system
Hot Water(Heating), Natural Gas
Building Details
Year built
1899
Floors in Building
5
Flooring type
Hardwood
Listing Agency:
Kim Williams Realty
(347) 277-7167
Listed By:
Remo Foss
Added: May 16
Changed: Aug 5
Last Checked: Aug 13 at 4:06PM
MLS# 11776685
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.
Built in 1899, this five-story brownstone contains approximately 4,020 square feet arranged across four residential units. The property includes six bedrooms and five bathrooms, with hardwood flooring, high ceilings, generous room proportions, and classic architectural elements. Natural light and the building’s historic character complement its residential layout, while a private driveway adds off-street parking to the offering.
The property is located at 183 Lefferts Place in Brooklyn’s Clinton Hill neighborhood, within ZIP Code 11238. The surrounding area includes cafes, restaurants, parks, cultural institutions, and access to multiple subway lines. Its approximately 0.0923-acre lot and established five-story configuration provide a distinct residential profile in Kings County.
The property is located at 183 Lefferts Place in Brooklyn’s Clinton Hill neighborhood, within ZIP Code 11238. The surrounding area includes cafes, restaurants, parks, cultural institutions, and access to multiple subway lines. Its approximately 0.0923-acre lot and established five-story configuration provide a distinct residential profile in Kings County.
Key Highlights
- Four‑unit residential building with approximately 4,020 square feet
- Five‑story brownstone built in 1899
- Private driveway provides off‑street parking
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
$140,787
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
4.70%
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%
$2,815,740
$2.8M
Cap Rate 7%
$2,011,243
$2.0M
Cap Rate 9%
$1,564,300
$1.6M
Market Conditions
NOI Build-Up for 4,020 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
$205.0K $51.00/SF
− Vacancy
−$3.9K −$0.97/SF
EGI
$201.1K $50.03/SF
− OpEx
−$60.3K −$15.01/SF
NOI
$140.8K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,815,740
Cap Rate 7%
$2,011,243
Cap Rate 9%
$1,564,300
Alternative Uses
Best Use
Multifamily LT 5
$2.01M
$1.76M – $2.35M
NOI $140,787 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$1.75M
$1.53M – $2.05M
NOI $122,726 @ 7.0% cap · market cap 4.10%
Theoretical Best
Specialty Retail
$3.33M
$2.91M – $3.88M
NOI $232,999 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
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?
Quadplex - Historic residential property with four units, hardwood floors, and a private driveway.
Where is this quadplex located?
The property is located at 183 Lefferts Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Four‑unit residential building with approximately 4,020 square feet; Five‑story brownstone built in 1899; Private driveway provides off‑street parking
