Six-Unit Brick Apartment
For Sale
$850,000
273 62nd Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size1,480 SF
Lot Size0.05 Acres
Price / SF$574.32
Days on Market121
Property Features for 273 62nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 6, Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 1
Basement
Full, Finished
Subdivision
Sunset Park
Standard status
Active
Size
1,480 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
13500
Amenities
finished basement
Building Details
Number of units
6
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Jadestone Development Realty
Listed By:
Lai King (Jackie) Li
(718) 676-6606
Added: May 25
Changed: Sep 15
Last Checked: Sep 22 at 5:06PM
MLS# 501766
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.
This three-story apartment building contains six apartments within a brick structure measuring 20x74. The property includes a finished basement, hardwood flooring, and six bathrooms. The lot measures 20x100, while the reported building size is 1,480 square feet. The property is offered in its existing condition.
Located between 3 Ave and 62 Street, the building is near 8th Ave, public transportation, and a subway station. Staten Island is also identified in the surrounding location description. The six-unit configuration, basement, and established masonry construction provide the primary physical characteristics of the property.
Located between 3 Ave and 62 Street, the building is near 8th Ave, public transportation, and a subway station. Staten Island is also identified in the surrounding location description. The six-unit configuration, basement, and established masonry construction provide the primary physical characteristics of the property.
Key Highlights
- Six apartments in a 3‑story apartment building
- 20x100 lot with a 20x74 building footprint
- 1,480 square feet of reported building size
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
$39,467
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
4.64%
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%
$789,340
$789.3K
Cap Rate 7%
$563,814
$563.8K
Cap Rate 9%
$438,522
$438.5K
Market Conditions
NOI Build-Up for 1,480 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
$74.6K $50.40/SF
− Vacancy
−$2.8K −$1.92/SF
EGI
$71.8K $48.48/SF
− OpEx
−$32.3K −$21.82/SF
NOI
$39.5K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$789,340
Cap Rate 7%
$563,814
Cap Rate 9%
$438,522
Alternative Uses
Best Use
Apartment 5plus
$563.8K
$493.3K – $657.8K
NOI $39,467 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$959.4K
$839.5K – $1.12M
NOI $67,161 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,818
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story layout includes a finished basement and six apartments.
Where is this apartment building located?
The property is located at 273 62nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six apartments in a 3‑story apartment building; 20x100 lot with a 20x74 building footprint; 1,480 square feet of reported building size
