Fully Renovated Brick
For Sale
$2,180,000
448 55th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size3,004 SF
Lot Size0.05 Acres
Price / SF$725.70
Days on Market84
Property Features for 448 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 4, Bedroom 1, Bedroom 7, Bedroom 9, Bedroom 8, Bathroom 6, Bathroom 5, Bedroom 12, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 7, Bedroom 10, Bathroom 3, Bedroom 11, Bathroom 1, Bathroom 8
Interior features
A/C Unit, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Sunset Park
Standard status
Active
Size
3,004 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8354
Amenities
large private backyard
Building Details
Year built
1901
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick, Steel
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Kelly Wu
(718) 612-3088
Added: Jun 4
Changed: Aug 4
Last Checked: Aug 26 at 8:06AM
MLS# 501993
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.
448 55th Street presents a fully renovated legal two-family brick property that’s configured for flexibility and multiple living arrangements. The building is three stories plus a finished basement and is built with steel beam construction throughout all levels. Inside, each floor has four bedrooms and two full bathrooms, while the basement has its own separate entrance, windows, and extra space with two full bathrooms.
The property underwent a complete gut renovation with major systems updated, including plumbing, gas lines, electrical wiring, windows, flooring, kitchens, and bathrooms. Utilities are separately metered with three gas meters and three electric meters, supported by three separate heating systems and three separate hot water systems. The building measures 20x47 over a 20x100 lot and sits on a 0.046-acre site. The flat roof and interior finishes include tile and hardwood, with additional interior features such as A/C units, a refrigerator, and a stove.
Conveniently located near the 5th Avenue shopping and dining district, the property offers easy access to public transportation, including the N and R subway lines, plus the B11, B63, and B9 bus routes.
The property underwent a complete gut renovation with major systems updated, including plumbing, gas lines, electrical wiring, windows, flooring, kitchens, and bathrooms. Utilities are separately metered with three gas meters and three electric meters, supported by three separate heating systems and three separate hot water systems. The building measures 20x47 over a 20x100 lot and sits on a 0.046-acre site. The flat roof and interior finishes include tile and hardwood, with additional interior features such as A/C units, a refrigerator, and a stove.
Conveniently located near the 5th Avenue shopping and dining district, the property offers easy access to public transportation, including the N and R subway lines, plus the B11, B63, and B9 bus routes.
Key Highlights
- Separately metered utilities with 3 gas meters and 3 electric meters, plus 3 separate heating systems and 3 separate hot water systems
- Three stories plus finished basement; basement has separate entrance, windows, and 2 full bathrooms
- Complete gut renovation with updates to plumbing, gas lines, electrical wiring, windows, flooring, kitchens, and bathrooms
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
$89,443
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
4.10%
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%
$1,788,860
$1.8M
Cap Rate 7%
$1,277,757
$1.3M
Cap Rate 9%
$993,811
$993.8K
Market Conditions
NOI Build-Up for 3,004 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
$133.4K $44.40/SF
− Vacancy
−$5.6K −$1.86/SF
EGI
$127.8K $42.54/SF
− OpEx
−$38.3K −$12.76/SF
NOI
$89.4K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,788,860
Cap Rate 7%
$1,277,757
Cap Rate 9%
$993,811
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,443 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$1.14M
$1.00M – $1.34M
NOI $80,107 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,319 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,042
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?
Duplex - R6B zoned brick duplex with finished basement, separate entrances, and separately metered utilities.
Where is this duplex located?
The property is located at 448 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,180,000.
What are key features of this property?
This property features: Separately metered utilities with 3 gas meters and 3 electric meters, plus 3 separate heating systems and 3 separate hot water systems; Three stories plus finished basement; basement has separate entrance, windows, and 2 full bathrooms; Complete gut renovation with updates to plumbing, gas lines, electrical wiring, windows, flooring, kitchens, and bathrooms
