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    Stuyvesant Heights Two-Family Home Title is generated by Realmo AI

    264 Decatur Street, Brooklyn, NY 11233

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    For Sale
    $2,650,000

    MULTI_FAMILY - Brooklyn, NY

    Property size:
    4,400 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $602/SF
    Added:
    Feb 2, 2026
    Days on Market:
    123
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 264 Decatur Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Basement, Bedroom 1, Bathroom 1
    Parking features
    On Street
    Interior features
    First Floor Bedroom, First Floor Full Bath
    Basement
    Full, Unfinished
    Standard status
    Active
    APN
    01680-0026
    Size
    4,400 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    8041

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Hot Water(Heating), Heat Pump (Heating)
    Cooling system
    Ductless, Central Air
    Water source
    Public

    Building Details

    Year built
    1899
    Number of units
    2
    Flooring type
    Wood
    Building materials
    Brick, Stone

    We can help!

    Listing Contact
    Charles V. Maione
    Charles V. Maione

    Listing agent Charles V. Maione License #30MA0969498

    Listing office Douglas Elliman Real Estate 390 Franklin Ave, Huntington Station, NY

    Listing date Feb 2, 2026

    MLS# 957955 Listing URL

    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.

    HighLights

    • Historical Landmark limestone barrel front 2‑family in Stuyvesant Heights.
    • Approximately 4400 sq ft with 11 FT ceilings, 5 bedrooms, and 4 bathrooms.
    • Original wood trim, molding, and pocket parlor doors.
    • Two units: one with a NEW eat‑in kitchen and the other with an exterior balcony and spiral staircase.
    • Cellar with almost 9 FT high ceilings for storage and laundry area.
    • Convenient location near the Utica Avenue A C subway.

    Overview

    Located in the Stuyvesant Heights Historical Landmark section of Brooklyn, this limestone barrel-front, 4-story two-family home features original wood trim, molding, and pocket parlor doors. The building has 11-foot ceilings, 5 bedrooms, and 4 bathrooms, with rear basement and first and second-floor extensions, totaling approximately 4400 square feet on a 0.0459-acre lot. The first unit comprises the garden level, with a foyer, hallway, dining room, new eat-in kitchen, laundry, and rear extension en-suite bedroom with a full bath. The second unit spans the parlor, third, and fourth floors, featuring a foyer, hallway, living room, den, sitting room, updated en-suite full bath, and rear bedroom extension with an exterior balcony and spiral staircase descending to the yard. The upper unit includes a living room, dining room, kitchen, new full bath, three bedrooms, a study, and another full bath. The parlor level may be incorporated with the first unit, which is the current use. The cellar has almost 9-foot-high ceilings, providing ample storage, utilities, and another laundry area. The original space is heated by gas-forced hot air, while the extensions are heated by a Navien hot water system. The entire house is cooled by a 10-year-old ducted central air system, supplemented by ductless units on the upper floors. Situated in a prime residential neighborhood, the property is convenient to the Utica Avenue A C subway.

    Local Financial Insights For Multifamily LT 5

    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 $224.4k $51.00
    − Vacancy −$4.3k −$0.97
    EGI $220.1k $50.03
    − OpEx −$66.0k −$15.01
    NOI $154.1k $35.02
    4,400 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $2.20M
    $1.93M – $2.57M (±1% cap)
    NOI $154,095 @ 7.0% cap · market cap 5.81%
    Second Best
    Apartment 5plus
    $1.92M
    $1.68M – $2.24M (±1% cap)
    NOI $134,327 @ 7.0% cap · market cap 5.07%
    Theoretical Best
    Specialty Retail
    $3.64M
    $3.19M – $4.25M (±1% cap)
    NOI $255,024 @ 7.0% cap · market cap 9.62%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.932815
    Latitude
    40.681286

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    FAQs

    What type of property is this?
    Duplex - Historical 4-story, 5-bedroom Brooklyn home with original details.
    Where is this duplex located?
    The property is located at 264 Decatur Street Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: Historical Landmark limestone barrel front 2‑family in Stuyvesant Heights.; Approximately 4400 sq ft with **11 FT ceilings, 5 bedrooms, and 4 bathrooms.**; **Original wood trim, molding, and pocket parlor doors.**
    (516) 984-5596
    We can help!
    Listing Contact
    Charles V. Maione
    Charles V. Maione
    Real Estate License ID: 30MA0969498
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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