Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    651 Barbey St Brooklyn, NY 11207

    View on Map
    Sponsored
    Picture of Apartment buildings at Barbey St 651, Brooklyn, NY
    For Sale
    $1,250,000

    MULTI_FAMILY - Brooklyn, NY

    Property size:
    6,150 SF
    Lot size:
    0.06 Acres
    Days on Market:
    4
    Last Refresh:
    Mar 19 at 4:06 pm

    Property Features for 651 Barbey St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 9, Bedroom 2, Bathroom 2, Bathroom 6, Basement, Bathroom 1, Bedroom 1, Bedroom 14, Bedroom 6, Bathroom 4, Bedroom 7, Bedroom 10, Bedroom 5, Bathroom 5, Bedroom 12, Bathroom 3, Bedroom 13, Bedroom 3, Bedroom 4, Bedroom 8, Bedroom 11
    Bedrooms
    14
    Bathrooms
    6
    APN
    04077-0008
    Basement
    Full
    Size
    6,150 SF
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1930
    Number of units
    6
    Building materials
    Brick

    We can help!

    Listing Contact
    James Y. Chung
    James Y. Chung

    Douglas Elliman Real Estate

    Listing agent James Y. Chung (917) 727-5652

    Listing date Mar 16, 2026

    MLS# 972353 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Brooklyn Multifamily Investment Opportunity

    This six-family building in Brooklyn offers approximately 6,150 square feet of living space. It features spacious apartment layouts, including four 2-bedroom units and two 3-bedroom units. The building is configured with 7 electric meters and 6 gas meters, allowing for separate utilities. Recent improvements include a new boiler and hot water heater. The roof was replaced approximately six years ago. The property is located near public transportation, neighborhood shopping, and local amenities. The property generates approximately $88,000 in Net Operating Income (NOI) and is offered at approximately a 7% cap rate at the asking price. The lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.885655
    Latitude
    40.666532

    Nearby Similar for Sale

    • $999,000
      8,820 SF

      Established Supermarket Business For Sale

      High-volume supermarket business opportunity in Brooklyn's Bensonhurst/Gravesend neighborhood.
      65 Quentin Rd, Brooklyn, NY 11223
      View Details
    • $375,000
      3,120 SF

      Established Restaurant in Sunset Park

      Turn-key Asian restaurant for sale in prime Sunset Park.
      5304 8Th Ave, Brooklyn, NY 11220
      View Details
    • $675,000
      1,265 SF

      Canarsie Avenue Retail Building

      Commercial building for sale in prime retail corridor.
      9518 Avenue L, Brooklyn, NY 11236
      View Details
    • New
      $850,000
      1,200 SF

      Turnkey Medical Office in Brooklyn

      Equipped medical office in Sunset Park with high visibility.
      829 57Th St, Brooklyn, NY 11220
      View Details
    • New
      $4,500,000
      14,700 SF

      Brooklyn Commercial Building on Retail Corridor

      14,700 SF commercial property in Flatbush retail corridor.
      5203-5207 Church Ave, Brooklyn, NY 11203
      View Details
    • New
      $2,390,000
      3,500 SF

      Two-Story Commercial Building, Sunset Park

      Two-story commercial building in Sunset Park, Brooklyn.
      821 39Th St, Brooklyn, NY 11232
      View Details
    • $660,000
      1,700 SF

      Brooklyn Commercial Building on Remsen

      Free-standing building in high-traffic area, suitable for various uses.
      992 Remsen Ave, Brooklyn, NY 11236
      View Details
    • New
      $1,999,000
      3,158 SF

      Kings Highway Commercial Unit

      Spacious commercial unit in a high-traffic Brooklyn location.
      366 Kings Hwy, Brooklyn, NY 11223
      View Details
    • New
      $1,598,000
      4,480 SF

      Gravesend Mixed-Use Building For Sale

      Mixed-use building with commercial storefront and residential units in Brooklyn.
      1986 West 6Th St, Brooklyn, NY 11223
      View Details
    • $680,000
      2,380 SF

      Medical Condo in Sheepshead Bay

      Renovated medical office condo in prime Sheepshead Bay location.
      2752 Ocean Ave, Brooklyn, NY 11229
      View Details
    • New
      $2,390,000
      3,500 SF

      Two-Story Commercial Building in Brooklyn

      Two-story commercial building in Sunset Park, Brooklyn, built in 2000.
      821 39Th St, Brooklyn, NY 11232
      View Details
    • $1,149,900
      2,698 SF

      Brooklyn Commercial Building on Church Avenue

      Two-story commercial building with high-traffic frontage in East Flatbush.
      5215 Church Ave, Brooklyn, NY 11203
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit building with strong income potential in Brooklyn.
    Where is this apartment building located?
    The property is located at 651 Barbey St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Approximately $88,000 Net Operating Income (NOI) and a 7% cap rate.; - Six-family building with spacious apartment layouts: four 2-bedroom units and two 3-bedroom units.; - Recent improvements: new boiler and hot water heater.
    (917) 576-9550
    Request Owner's contact information
    651 Barbey St Brooklyn, NY 11207
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    651 Barbey St
    Brooklyn, NY 11207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    651 Barbey St Brooklyn, NY 11207
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James Y. Chung
    James Y. Chung
    Real Estate License ID: 10301214776
    (917) 576-9550 (917) 727-5652 (718) 475-2700
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!