Six-Unit Solid Brick Apartment
For Sale
$1,388,000
361 59th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size3,201 SF
Lot Size0.05 Acres
Price / SF$433.61
Days on Market409
Property Features for 361 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 6, Bathroom 1
Basement
Full
Subdivision
Sunset Park
Standard status
Active
Size
3,201 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10283
Building Details
Year built
1906
Number of units
6
Flooring type
Laminate, Tile
Building materials
Block, Brick
Roof type
Flat
Listing Agency:
Century 21 Realty First
(718) 758-5838
Listed By:
Anthony Frazzetta · License #FRA465
(718) 758-5838
Added: Jul 1, 2025
Changed: Aug 4
Last Checked: Aug 13 at 7:06PM
MLS# 493898
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 solid brick, block-built apartment building offers six one-bedroom apartments and access to a full basement. The building is configured as a 6-family and features a flat roof. Flooring includes laminate and tile, and the apartments are described as move-in condition.
The property sits on a 21 x 100 lot with a building size of 21 x 60, totaling 3,201 square feet. It is zoned R6A.
Conveniently located minutes from shopping and transportation along 4th Ave and 5th Ave, near the N and R train subway station. 24-hour notice is required for showings.
The property sits on a 21 x 100 lot with a building size of 21 x 60, totaling 3,201 square feet. It is zoned R6A.
Conveniently located minutes from shopping and transportation along 4th Ave and 5th Ave, near the N and R train subway station. 24-hour notice is required for showings.
Key Highlights
- Six one‑bedroom apartments in a 6‑family solid brick building
- 21 x 60 building size on a 21 x 100 lot
- 0.0471‑acre lot 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
$85,360
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
6.15%
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%
$1,707,200
$1.7M
Cap Rate 7%
$1,219,429
$1.2M
Cap Rate 9%
$948,444
$948.4K
Market Conditions
NOI Build-Up for 3,201 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
$161.3K $50.40/SF
− Vacancy
−$6.1K −$1.92/SF
EGI
$155.2K $48.48/SF
− OpEx
−$69.8K −$21.82/SF
NOI
$85.4K $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%
$1,707,200
Cap Rate 7%
$1,219,429
Cap Rate 9%
$948,444
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,360 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,259 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
6,084
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
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 - Six one-bedroom apartments in a solid brick building with basement access; zoned R6A.
Where is this apartment building located?
The property is located at 361 59th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Six one‑bedroom apartments in a 6‑family solid brick building; 21 x 60 building size on a 21 x 100 lot; 0.0471‑acre lot size
