8-Unit Four-Story Apartment
New
For Sale
$2,500,000
103 Greenpoint Avenue, Brooklyn, NY 11222
Multifamily property on a tree-lined residential block near Greenpoint’s commercial corridors and neighborhood parks.
Property Size6,500 SF
Price / SF$384.62
Days on Market7
Property Features for 103 Greenpoint Avenue
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$18,263
Building Details
Building Size
6,500 SF
Year Built
1928
Buildings
1
Stories
4
Listing Agency:
Exit Realty Achieve
Listed By:
Violeta Y. Castillo CBR
Source:
Cbwarburg
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 6 at 11:34AM
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 Exit Realty Achieve
Investment Insights
Based on property information with market context.
Built in 1928, this four-story apartment building contains eight residential units, 29 rooms, and 13 bedrooms. The property is configured as an 8-family multifamily asset on a residential block in Greenpoint, Brooklyn, with an established building profile suited to residential income ownership.
The building is positioned near Manhattan Avenue, Franklin Street, and Greenpoint Avenue, placing residents close to local dining and retail destinations including Five Leaves, Paulie Gee’s, and Peter Pan Donut & Pastry Shop. McCarren Park and McGolrick Park are also nearby, adding access to neighborhood green space.
The building is positioned near Manhattan Avenue, Franklin Street, and Greenpoint Avenue, placing residents close to local dining and retail destinations including Five Leaves, Paulie Gee’s, and Peter Pan Donut & Pastry Shop. McCarren Park and McGolrick Park are also nearby, adding access to neighborhood green space.
Key Highlights
- Eight residential units in an 8‑family building
- Four‑story apartment building constructed in 1928
- 29 rooms and 13 bedrooms
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
$198,438
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
7.94%
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%
$3,968,760
$4.0M
Cap Rate 7%
$2,834,829
$2.8M
Cap Rate 9%
$2,204,867
$2.2M
Market Conditions
NOI Build-Up for 6,500 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
$368.2K $56.64/SF
− Vacancy
−$7.4K −$1.13/SF
EGI
$360.8K $55.51/SF
− OpEx
−$162.4K −$24.98/SF
NOI
$198.4K $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%
$3,968,760
Cap Rate 7%
$2,834,829
Cap Rate 9%
$2,204,867
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.31M
NOI $198,438 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,740 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
4,550
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 - Multifamily property on a tree-lined residential block near Greenpoint’s commercial corridors and neighborhood parks.
Where is this apartment building located?
The property is located at 103 Greenpoint Avenue 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: Eight residential units in an 8‑family building; Four‑story apartment building constructed in 1928; 29 rooms and 13 bedrooms
