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    289 Putnam Ave, Unit - Brooklyn, NY 11216

    Sponsored
    For Sale
    $2,290,000

    Other - Brooklyn, NY

    Type:Multi Family
    Property size:
    2,800 SF
    Lot size:
    0.05 Acres
    Days on Market:
    12
    Last Refresh:
    Feb 28 at 10:06 pm

    Property Features for 289 Putnam Ave

    General Information

    Property type
    Other
    Property subtype
    Multi Family
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    3
    APN
    01822-0060
    Parking features
    On Street
    Interior features
    Storage
    EntryLevel
    -
    Exterior features
    Garden
    Size
    2,800 SF
    Lot size
    0.05 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    ENERGY STAR Qualified Equipment

    Building Details

    Year built
    1910
    Flooring type
    Hardwood
    Architectural style
    Other

    We can help!

    Listing Contact
    Anat Haya Klein

    Engel & Völkers Brooklyn Park Slope (718) 643-6312

    Listing agent Anat Haya Klein (718) 643-6312

    Listing date Feb 17, 2026

    MLS# RLS20058049 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Brooklyn Brownstone Investment Opportunity

    This move-in ready three-family brownstone is located in the heart of Bed-Stuy on a picturesque tree-lined block between Nostrand and Bedford Avenue. The property sits on a 20’ x 100’ lot and includes approximately 2,800 square feet of living space across three levels. The home features a finished basement with abundant storage and separate gas and electric meters for each unit. Gut renovated in 2016 with additional updates in 2022, the property combines historic character with modern comfort. It features a gas heating system, hardwood floors, high ceilings, and oversized windows. The garden level includes a one-bedroom, one-bath residence with an open kitchen, a large island, granite countertops, stainless-steel appliances, and a dishwasher. A mudroom opens to a 20' x 49' backyard. The parlor floor showcases original details and a sun-drenched living area, alongside an open kitchen and a windowed bath finished with subway tiles. The second-floor apartment offers a generous living space with an open kitchen, king-sized bedroom, and a flex room. The property can be easily converted to a two-family with an income-producing unit. Located minutes from the A/C trains at Nostrand Avenue and the G train at Bedford/Nostrand, residents enjoy easy access to local cafes, restaurants, and boutiques. The property will be delivered vacant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    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
    -73.950629
    Latitude
    40.684102

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    FAQs

    What type of property is this?
    Triplex - Move-in ready three-family brownstone in prime Bed-Stuy location.
    Where is this triplex located?
    The property is located at 289 Putnam Ave, Unit - Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,290,000.
    What are key features of this property?
    This property features: - Move-in ready, renovated three-family brownstone in prime Bed-Stuy location.; - Income-producing investment property with separate gas and electric meters for each unit and potential for 4-5% gross annual return.; - Versatile property easily convertible to a two-family with an income-producing unit.
    (646) 642-7665
    Request Owner's contact information
    289 Putnam Ave, Unit - Brooklyn, NY 11216
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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.

    More about this property
    289 Putnam Ave, Unit - Brooklyn, NY 11216
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    We can help!
    Listing Contact
    Anat Haya Klein
    (646) 642-7665 (917) 568-6525 (718) 643-6312
    Learn more
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