East Williamsburg Multifamily Investment
234-238 Powers Street Brooklyn, NY 11211
For Sale
$3,500,000
MULTI_FAMILY - Brooklyn, NY
Property Size10,500 SF
Lot Size0.04 Acres
Price / SF$333.33
Days on Market387
Property Features for 234-238 Powers Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A/R6B
Rooms
Basement
Basement
Unfinished, Full
Standard status
Active
APN
02784-0014
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
49925
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
18
Building materials
Brick
Listing Agency:
Crifasi Real Estate Inc
(718) 782-4411
Listed By:
Sal J. Crifasi · License #1027429
(718) 782-4411
Added: Jul 9, 2025
Changed: Jul 13
Last Checked: Jul 30 at 4:06AM
MLS# 887174
Copyright © 2026 OneKey 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.
Located in East Williamsburg, Brooklyn, the properties at 234, 236, and 238 Powers St offer a portfolio opportunity. The offering consists of three adjacent, brick 6-unit buildings, totaling 18 residential units. The properties are situated steps from the Grand St L-train station. Constructed in the 1920s, the buildings offer layouts and an location. The buildings present an investment for those seeking long-term value, repositioning potential, or future redevelopment. Each property features a unit mix of four 1-bedroom apartments and two 2-bedroom units. Several units are currently rented, while others are vacant or owner-occupied. The properties offer upside through lease-up, improvements, or condo conversion strategies. Combined, the buildings span approximately 10,500 square feet and sit on three 18.75 x 100 ft lots. The properties are suited for investors or end users who are familiar with the operations, regulations, and long-term upside of rent-stabilized buildings. The properties are located in residential surroundings and close proximity to Williamsburg's retail corridors. The zoning is R7A/R6B. The lot size is 0.043 acres.
Key Highlights
- Portfolio of three adjacent brick 6‑unit buildings at 234, 236, and 238 Powers St (18 total residential units).
- Unit mix: four 1‑bedroom units and two 2‑bedroom units per building.
- Approximately 10,500 SF total, on three 18.75 x 100 ft lots.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $594.7k | $56.64 |
| − Vacancy | −$11.9k | −$1.13 |
| EGI | $582.8k | $55.51 |
| − OpEx | −$262.3k | −$24.98 |
| NOI | $320.6k | $30.53 |
10,500 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,554 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.69M
$7.61M – $10.14M
NOI $608,580 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Three adjacent brick buildings with 18 units near Grand St L-train.
Where is this apartment building located?
The property is located at 234-238 Powers Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Portfolio of three adjacent brick 6‑unit buildings at 234, 236, and 238 Powers St (18 total residential units).; Unit mix: four 1‑bedroom units and two 2‑bedroom units per building.; Approximately 10,500 SF total, on three 18.75 x 100 ft lots.
