Oversized Corner Brick
1 Bay Ridge Pkwy Brooklyn, NY 11209
For Sale
$2,500,000
A corner two-family with terraces, hardwood interiors, and flexible basement space with separate entrances.
Property Size5,100 SF
Price / SF$490.20
Days on Market54
Property Features for 1 Bay Ridge Pkwy
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1970
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Source:
Elliman
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 26 at 10:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This rare oversized corner brick two-family residence offers substantial interior flexibility and distinctive outdoor space. The home’s first-floor unit features two bedrooms, a spacious living room, a formal dining room, and one full bathroom. The second-floor residence includes three bedrooms, two full bathrooms, and separate living and dining rooms with abundant natural light and hardwood flooring throughout. Front and rear terraces provide outdoor space with waterfront and park views. There is also a high-ceiling basement of substantial size with separate entrances, which was formerly used as a medical office and could support a range of professional or personal uses, along with storage. Additional features include oversized windows with open exposures, a private driveway, and double-car garages.
Located on Shore Road in Bay Ridge, the property sits directly across from Shore Road parks, the waterfront promenade, biking paths, and recreation fields. The setting supports an active, waterfront lifestyle while remaining convenient for everyday access.
From a tenant or owner-operator perspective, the layout supports separate above-grade living spaces while preserving the option to adapt the basement for an office, recreation, or additional use depending on the operator’s needs. With multiple separate entrances and distinct living levels, it can also work well for households seeking privacy while staying connected within the same property.
Located on Shore Road in Bay Ridge, the property sits directly across from Shore Road parks, the waterfront promenade, biking paths, and recreation fields. The setting supports an active, waterfront lifestyle while remaining convenient for everyday access.
From a tenant or owner-operator perspective, the layout supports separate above-grade living spaces while preserving the option to adapt the basement for an office, recreation, or additional use depending on the operator’s needs. With multiple separate entrances and distinct living levels, it can also work well for households seeking privacy while staying connected within the same property.
Key Highlights
- Oversized corner brick 2‑family residence with waterfront and park views in Bay Ridge
- Approx. 3,400 sq ft of living space plus an additional 1,700 sq ft high‑ceiling basement with separate entrances
- Basement previously used as a medical office, offering flexible space for professional use, recreation, storage, or more
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $260.1k | $51.00 |
| − Vacancy | −$4.9k | −$0.97 |
| EGI | $255.2k | $50.03 |
| − OpEx | −$76.5k | −$15.01 |
| NOI | $178.6k | $35.02 |
5,100 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.55M
$2.23M – $2.98M
NOI $178,611 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$2.22M
$1.95M – $2.59M
NOI $155,698 @ 7.0% cap · market cap 6.23%
Theoretical Best
Specialty Retail
$4.22M
$3.69M – $4.93M
NOI $295,596 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Aiello Michael MD
Physician
FAQs
What type of property is this?
Duplex - A corner two-family with terraces, hardwood interiors, and flexible basement space with separate entrances.
Where is this duplex located?
The property is located at 1 Bay Ridge Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Oversized corner brick 2‑family residence with waterfront and park views in Bay Ridge; Approx. 3,400 sq ft of living space plus an additional 1,700 sq ft high‑ceiling basement with separate entrances; Basement previously used as a medical office, offering flexible space for professional use, recreation, storage, or more
