Six-Unit Multifamily
For Sale
$2,275,000
65 Jewel St, Brooklyn, NY 11222
COMMERCIAL - Greenpoint, NY
Property Size3,750 SF
Lot Size0.11 Acres
Price / SF$606.67
Days on Market99
Property Features for 65 Jewel St
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 7, Bathroom 6, Bathroom 4, Bathroom 5, Bathroom 3, Bathroom 2, Bathroom 1
Subdivision
Greenpoint
Standard status
Active
Size
3,750 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
12307
Utilities
Heating system
Steam, Oil
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Listing Agency:
GRAVITY REAL ESTATE ADVISORS LLC
Listed By:
Dimitrios Kapelonis
Added: May 4
Changed: Aug 4
Last Checked: Aug 10 at 7:06AM
MLS# 11739100
Copyright © 2026 My State 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.
Well-located six-unit multifamily building at 65 Jewel St, Greenpoint, NY 11222. The property is situated on a 25' x 100' lot and comprises 3,750 square feet. Built in 1930, the building is served by public water and heated with oil-fired, steam systems.
The unit mix includes a free market 1-bedroom (Unit 1R) featuring a private patio and access to a full backyard. The remaining space is configured for multifamily occupancy within the six-unit setup.
A projected 6.2% pro forma cap rate is noted, with the property described as offering in-place income and upside potential.
The unit mix includes a free market 1-bedroom (Unit 1R) featuring a private patio and access to a full backyard. The remaining space is configured for multifamily occupancy within the six-unit setup.
A projected 6.2% pro forma cap rate is noted, with the property described as offering in-place income and upside potential.
Key Highlights
- Six‑unit multifamily building at 65 Jewel St, Greenpoint, NY 11222
- 25' x 100' lot on 0.1148 acres
- 3,750 SF total building 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
$114,484
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
5.03%
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%
$2,289,680
$2.3M
Cap Rate 7%
$1,635,486
$1.6M
Cap Rate 9%
$1,272,044
$1.3M
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
$212.4K $56.64/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$208.2K $55.51/SF
− OpEx
−$93.7K −$24.98/SF
NOI
$114.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$2,289,680
Cap Rate 7%
$1,635,486
Cap Rate 9%
$1,272,044
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,484 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.10M
$2.72M – $3.62M
NOI $217,350 @ 7.0% cap · market cap 9.55%
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
5,970
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
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-unit multifamily building with oil steam heating and public water.
Where is this apartment building located?
The property is located at 65 Jewel St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Six‑unit multifamily building at 65 Jewel St, Greenpoint, NY 11222; 25' x 100' lot on 0.1148 acres; 3,750 SF total building size
