Four-Story Duplex
New
For Sale
$1,599,995
64 Hancock Street, Brooklyn, NY 11216
MULTI_FAMILY - Brooklyn, NY
Property Size3,750 SF
Lot Size0.05 Acres
Price / SF$426.67
Days on Market3
Property Features for 64 Hancock Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
High Ceilings
Basement
Walk-Out Access
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
01837-0015
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6087
Utilities
Sewer type
Public Sewer
Heating system
Steam, Natural Gas
Water source
Public
Building Details
Year built
1901
Number of units
2
Building materials
Brownstone
Listing Agency:
Millionaire Minds Realty
(929) 400-1063
Listed By:
Steven Pratt · License #10491211059
(929) 400-1063
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 10:06PM
MLS# 1036682
Copyright © 2026 OneKey MLS. 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.
Built in 1901, this four-story brownstone at 64 Hancock Street provides 3,750 square feet across 11 bedrooms and 4 bathrooms. The 20-foot-wide property sits on a 0.0459-acre lot measuring 20 feet by 100 feet, with high ceilings, steam heat, natural gas service, and a basement. Public water and public sewer serve the property, while on-street parking is available.
The building is within the Bedford Historic District and carries R6B multi-unit zoning. The Franklin Avenue A/C/S subway station is 0.2 miles away, and five parks are located within 1.8 miles. The property is sold as-is, remains occupied, and includes brownstone construction with a historic townhouse configuration.
The building is within the Bedford Historic District and carries R6B multi-unit zoning. The Franklin Avenue A/C/S subway station is 0.2 miles away, and five parks are located within 1.8 miles. The property is sold as-is, remains occupied, and includes brownstone construction with a historic townhouse configuration.
Key Highlights
- 3,750 square feet across four stories on a 20‑foot‑wide, 100‑foot‑deep lot
- 11 bedrooms and 4 bathrooms
- Built in 1901 with brownstone construction and high ceilings
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
$131,331
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
8.21%
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%
$2,626,620
$2.6M
Cap Rate 7%
$1,876,157
$1.9M
Cap Rate 9%
$1,459,233
$1.5M
Market Conditions
NOI Build-Up for 3,750 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
$191.3K $51.00/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$187.6K $50.03/SF
− OpEx
−$56.3K −$15.01/SF
NOI
$131.3K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,626,620
Cap Rate 7%
$1,876,157
Cap Rate 9%
$1,459,233
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.64M – $2.19M
NOI $131,331 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,484 @ 7.0% cap · market cap 7.16%
Theoretical Best
Specialty Retail
$3.10M
$2.72M – $3.62M
NOI $217,350 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
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 - Historic brownstone offering substantial living space, multi-unit zoning, and access to public transit in Brooklyn’s Bedford-Stuyvesant neighborhood.
Where is this duplex located?
The property is located at 64 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,995.
What are key features of this property?
This property features: 3,750 square feet across four stories on a 20‑foot‑wide, 100‑foot‑deep lot; 11 bedrooms and 4 bathrooms; Built in 1901 with brownstone construction and high ceilings
