Landmarked Renaissance Revival
New
For Sale
$2,399,000
1037 Sterling Pl, Brooklyn, NY 11213
Two-family residence with preserved period details, renovated kitchen, and landscaped rear garden.
Property Size3,926 SF
Price / SF$611.05
Days on Market2
Property Features for 1037 Sterling Pl
General Information
Standard status
Active
Size
3,926 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,377
Building Details
Building Size
3,926 SF
Year Built
1902
Stories
3
Units
2
Construction
Renaissance Revival limestone
Listing Agency:
Compass
Listed By:
Yara Ghossein · License #10401248976
(917) 667-7925
Source:
Elliman
Added: Sep 9
Last Checked: Sep 9 at 3:45PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1902, this semi-attached Renaissance Revival limestone occupies three levels plus a high-ceilinged basement and contains 3,926 square feet. The current two-family arrangement provides five-plus bedrooms, while the 20' width supports generously proportioned rooms and a flexible interior plan. Historic elements include fretwork, wainscoting, pocket doors, stained glass, pier mirrors, decorative fireplaces, and 10'5" ceilings on the parlor level. Modern updates include a renovated eat-in kitchen, two renovated bathrooms, and a butler’s pantry. Sliding doors connect the kitchen to a landscaped backyard, and a rear stair links the garden and parlor levels.
The property is within the North Crown Heights Historic District at 1037 Sterling Pl, Brooklyn, NY 11213. Brooklyn Botanic Garden, Brower Park, Brooklyn Public Library at Grand Army Plaza, Brooklyn Children's Museum, and Jewish Children's Museum are identified nearby. Transit access includes the 2, 3, 4, and 5 trains along Eastern Parkway, the A and C lines, LIRR service, and the B44 and B45 bus lines.
The property is within the North Crown Heights Historic District at 1037 Sterling Pl, Brooklyn, NY 11213. Brooklyn Botanic Garden, Brower Park, Brooklyn Public Library at Grand Army Plaza, Brooklyn Children's Museum, and Jewish Children's Museum are identified nearby. Transit access includes the 2, 3, 4, and 5 trains along Eastern Parkway, the A and C lines, LIRR service, and the B44 and B45 bus lines.
Key Highlights
- 3,926‑square‑foot semi‑attached Renaissance Revival limestone built in 1902
- Current two‑family configuration with five‑plus bedrooms
- Three levels plus a high‑ceilinged basement; 20' width
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
$137,495
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
5.73%
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%
$2,749,900
$2.7M
Cap Rate 7%
$1,964,214
$2.0M
Cap Rate 9%
$1,527,722
$1.5M
Market Conditions
NOI Build-Up for 3,926 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
$200.2K $51.00/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$196.4K $50.03/SF
− OpEx
−$58.9K −$15.01/SF
NOI
$137.5K $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%
$2,749,900
Cap Rate 7%
$1,964,214
Cap Rate 9%
$1,527,722
Alternative Uses
Best Use
Multifamily LT 5
$1.96M
$1.72M – $2.29M
NOI $137,495 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,857 @ 7.0% cap · market cap 5.00%
Theoretical Best
Specialty Retail
$3.25M
$2.84M – $3.79M
NOI $227,551 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with preserved period details, renovated kitchen, and landscaped rear garden.
Where is this duplex located?
The property is located at 1037 Sterling Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 3,926‑square‑foot semi‑attached Renaissance Revival limestone built in 1902; Current two‑family configuration with five‑plus bedrooms; Three levels plus a high‑ceilinged basement; 20' width
