Brick Duplex With
For Sale
$1,080,000
59 Bay 40th Street, Brooklyn, NY 11214
Residential, Duplex, Brooklyn, NY
Property Size1,116 SF
Lot Size0.04 Acres
Price / SF$967.74
Days on Market77
Property Features for 59 Bay 40th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R5
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Patio and Porch features
Deck
Interior features
A/C Unit - Wall, Deck, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bath Beach
Standard status
Active
Size
1,116 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7023
Building Details
Year built
1950
Floors in Building
2
Flooring type
Tile, Hardwood, Laminate
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Added: Jun 11
Changed: Aug 23
Last Checked: Aug 26 at 7:06AM
MLS# 502236
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 brick duplex at 59 Bay 40th Street contains 1,116 square feet on a 0.0399-acre lot. The main-level layout includes a living room, dining area, and eat-in kitchen, while the upper level provides three bedrooms and a full bathroom. A finished basement adds another full bathroom, additional usable space, and a separate entrance. Interior improvements include a renovated kitchen, newer gas boiler, water heater, wall-mounted A/C, and a mix of tile, hardwood, and laminate flooring.
The building measures 18'*31' and includes three parking spaces accessed through a wide community driveway, with two spaces in the rear yard and one additional space outside. The property is in Brooklyn, NY 11214, near shopping, schools, restaurants, and transportation. Zoning is R5, and the building was constructed in 1950.
The building measures 18'*31' and includes three parking spaces accessed through a wide community driveway, with two spaces in the rear yard and one additional space outside. The property is in Brooklyn, NY 11214, near shopping, schools, restaurants, and transportation. Zoning is R5, and the building was constructed in 1950.
Key Highlights
- Duplex with 1,116 square feet of building area
- 0.0399‑acre lot with an 18'*31' building footprint
- Three parking spaces: two in the rear yard and one additional exterior space
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
$30,439
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
2.82%
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%
$608,780
$608.8K
Cap Rate 7%
$434,843
$434.8K
Cap Rate 9%
$338,211
$338.2K
Market Conditions
NOI Build-Up for 1,116 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
$45.5K $40.80/SF
− Vacancy
−$2.0K −$1.84/SF
EGI
$43.5K $38.96/SF
− OpEx
−$13.0K −$11.69/SF
NOI
$30.4K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$608,780
Cap Rate 7%
$434,843
Cap Rate 9%
$338,211
Alternative Uses
Best Use
Multifamily LT 5
$434.8K
$380.5K – $507.3K
NOI $30,439 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$389.7K
$341.0K – $454.7K
NOI $27,280 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$651.0K
$569.6K – $759.5K
NOI $45,571 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - Brick duplex with finished basement space, a separate entrance, and three parking spaces.
Where is this duplex located?
The property is located at 59 Bay 40th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Duplex with 1,116 square feet of building area; 0.0399‑acre lot with an 18'*31' building footprint; Three parking spaces: two in the rear yard and one additional exterior space
