Renovated Six-Family Building in
For Sale
$2,199,000
264 67th St, Brooklyn, NY 11220
Renovated six-family building in prime Bay Ridge location.
Property Size5,082 SF
Lot Size0.05 Acres
Days on Market275
Property Features for 264 67th St
General Information
Standard status
Active
Size
5,082 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$17,368
Building Details
Building Size
5,082 SF
Stories
3
Listing Agency:
Maximillion Realty, Inc.
(718) 376-9300
Listed By:
Alla Veksler
(718) 376-9300
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 22
Last Checked: Aug 29 at 10:44AM
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 Maximillion Realty, Inc.
Investment Insights
Based on property information with market context.
This renovated six-family building is located in the Bay Ridge area. The building features five 2-bedroom apartments and one 3-bedroom apartment. All units have been renovated with stainless steel appliances, modern kitchens, hardwood floors, modern bathrooms, built-in closets, skylights, exposed brick walls, and natural light. Each unit includes washer and dryer hookups. The first-floor units have basement and backyard access. Tenants are responsible for their own heat, gas, and electricity, with six separate meters for water, electricity, and gas. Plumbing and electrical work are new, including new fuse boxes. The property is near parks, stores, schools, and recreation centers. Yearly taxes are $15,956.
Key Highlights
- Fully renovated building with modern kitchens, bathrooms, and stainless steel appliances in all units.
- Six income‑generating units: five 2‑bedroom and one 3‑bedroom apartment.
- Separate meters for water, gas, and electricity for each unit, with tenants paying their own utilities.
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
$135,520
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
6.16%
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%
$2,710,400
$2.7M
Cap Rate 7%
$1,936,000
$1.9M
Cap Rate 9%
$1,505,778
$1.5M
Market Conditions
NOI Build-Up for 5,082 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
$256.1K $50.40/SF
− Vacancy
−$9.7K −$1.92/SF
EGI
$246.4K $48.48/SF
− OpEx
−$110.9K −$21.82/SF
NOI
$135.5K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$2,710,400
Cap Rate 7%
$1,936,000
Cap Rate 9%
$1,505,778
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.69M – $2.26M
NOI $135,520 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,617 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Renovated six-family building in prime Bay Ridge location.
Where is this apartment building located?
The property is located at 264 67th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Fully renovated building with modern kitchens, bathrooms, and stainless steel appliances in all units.; Six income‑generating units: five 2‑bedroom and one 3‑bedroom apartment.; Separate meters for water, gas, and electricity for each unit, with tenants paying their own utilities.
