Building Details

Building Size 4,125 SF

Year Built 1905

Buildings 1

Stories 3

Units 4

Listing Agency: Corcoran Group

Listed By: Lisa James · License #10401215017 Show Phone

Source: Elliman

Added: Apr 28 Changed: Oct 12 Last Checked: Oct 16 at 9:22AM

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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 Corcoran Group

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Investment Insights

Based on property information with market context.

This three-story townhouse contains four residential units within approximately 4,125 square feet on a 2,500-square-foot lot. The building occupies a 25-foot by 65-foot footprint on a 25-foot by 100-foot parcel and was originally constructed in 1905. A former six-unit layout was legally converted to four units, with the property last altered in 1998 and the current use aligned with C3 zoning.

Located at 1062 Putnam Avenue in Brooklyn, the property offers access to Broadway Junction and Gates Avenue stations. Neighborhood conveniences include dining, grocery shopping, retail, bars, and personal-service businesses. WalkScore, BikeScore, and TransitScore are 93, 86, and 100, respectively. The roof height is 38 feet, and ground elevation is 52 feet.

Key Highlights

• Four residential units in a legally converted former six‑unit building
• Approximately 4,125 square feet on a 2,500‑square‑foot lot
• 25 ft x 65 ft building footprint and 25 ft x 100 ft lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$144,465

Cap Rate

7.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,889,300 $2.9M

Cap Rate 7%

$2,063,786 $2.1M

Cap Rate 9%

$1,605,167 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,125 SF

Gross rent

$210.4K $51.00/SF

− Vacancy

−$4.0K −$0.97/SF

EGI

$206.4K $50.03/SF

− OpEx

−$61.9K −$15.01/SF

NOI

$144.5K $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 Rate 5%

$2,889,300

Cap Rate 7%

$2,063,786

Cap Rate 9%

$1,605,167

Alternative Uses

Best Use

Multifamily LT 5

$2.06M

$1.81M – $2.41M (±1% cap)

NOI $144,465 @ 7.0% cap · market cap 7.22%

Second Best

Apartment 5plus

$1.80M

$1.57M – $2.10M (±1% cap)

NOI $125,932 @ 7.0% cap · market cap 6.30%

Theoretical Best

Specialty Retail

$3.42M

$2.99M – $3.98M (±1% cap)

NOI $239,085 @ 7.0% cap · market cap 11.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage Accounting Firm Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

3,397

Businesses Nearby

Explore this area Business Placement

Demographics for 11221, NY

89,222

Population

38,690

Households

2.3

Avg Household Size

33

Median Age

42%

College-Educated

84%

High-School Grad

1.4 sq mi

ZIP Area

63,730

Density / Sq Mi

$85,122

Median Household Income

$49,202

Median Earnings

$2,055

Median Rent

$1,061,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Three-story Brooklyn townhouse with four residential units and retained historic character.

Where is this quadplex located?

The property is located at 1062 PUTNAM Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,999,999.

What are key features of this property?

This property features: Four residential units in a legally converted former six‑unit building; Approximately 4,125 square feet on a 2,500‑square‑foot lot; 25 ft x 65 ft building footprint and 25 ft x 100 ft lot