Four-Unit
For Sale
$1,999,999
Pending
1062 PUTNAM Ave, Brooklyn, NY 11221
Three-story Brooklyn townhouse with four residential units and retained historic character.
Property Size4,125 SF
Lot Size0.06 Acres
Days on Market126
Property Features for 1062 PUTNAM Ave
General Information
Standard status
Pending
Size
4,125 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$82,284
Building Details
Building Size
4,125 SF
Year Built
1905
Buildings
1
Stories
3
Units
4
Listing Agency:
Corcoran Group
(347) 512-9974
Listed By:
Lisa James · License #30MO0951810
(347) 512-9974
Source:
Elliman
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 4:17PM
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
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.
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 = 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
$144,465
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
7.22%
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%
$2,889,300
$2.9M
Cap Rate 7%
$2,063,786
$2.1M
Cap Rate 9%
$1,605,167
$1.6M
Market Conditions
NOI Build-Up for 4,125 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
$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 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%
$2,889,300
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
NOI $144,465 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,932 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$3.42M
$2.99M – $3.98M
NOI $239,085 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
