Renovated Corner
For Sale
$1,799,000
1204 E 72nd Street, Brooklyn, NY 11234
Four-family corner property with finished basement, private driveway, and attached garage.
Property Size4,443 SF
Lot Size0.09 Acres
Price / SF$404.85
Days on Market22
Property Features for 1204 E 72nd Street
General Information
Standard status
Active
Size
4,443 SF
Total Parking Spaces
3
Lot size
0.09 Acres
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,482
Amenities
private driveway
garage
finished basement
Building Details
Building Size
4,443 SF
Year Built
1970
Buildings
1
Units
4
Listing Agency:
5 Boro Realty Corp
(917) 705-0005
Listed By:
Nina Sabag · License #1020364
(917) 705-0005
Source:
Cohenandcohenrealty
Added: Jul 22
Changed: Aug 8
Last Checked: Aug 11 at 1:33PM
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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
This fully renovated quadplex is configured as four family residences with approximately 4,443.62 square feet of living area. The property includes 10 bedrooms and 6 bathrooms, along with a finished basement that provides additional recreational, storage, or living space. A private driveway and garage add off-street parking to the residential layout. Built in 1970, the building has been updated with modern finishes and is presented in move-in-ready condition.
The property occupies a 41.5 ft. x 99.25 ft. corner lot at 1204 E 72nd Street in Brooklyn’s Bergen Beach area. Its corner position provides frontage on two sides, while nearby parks, shopping, restaurants, schools, and public transportation contribute to the surrounding residential setting.
The property occupies a 41.5 ft. x 99.25 ft. corner lot at 1204 E 72nd Street in Brooklyn’s Bergen Beach area. Its corner position provides frontage on two sides, while nearby parks, shopping, restaurants, schools, and public transportation contribute to the surrounding residential setting.
Key Highlights
- Four‑family configuration with 10 bedrooms and 6 bathrooms
- Approximately 4,443.62 square feet of renovated living space
- 41.5 ft. x 99.25 ft. corner 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
$155,623
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
8.65%
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%
$3,112,460
$3.1M
Cap Rate 7%
$2,223,186
$2.2M
Cap Rate 9%
$1,729,144
$1.7M
Market Conditions
NOI Build-Up for 4,444 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
$226.6K $51.00/SF
− Vacancy
−$4.3K −$0.97/SF
EGI
$222.3K $50.03/SF
− OpEx
−$66.7K −$15.01/SF
NOI
$155.6K $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%
$3,112,460
Cap Rate 7%
$2,223,186
Cap Rate 9%
$1,729,144
Alternative Uses
Best Use
Multifamily LT 5
$2.22M
$1.95M – $2.59M
NOI $155,623 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$1.94M
$1.70M – $2.26M
NOI $135,659 @ 7.0% cap · market cap 7.54%
Theoretical Best
Specialty Retail
$3.68M
$3.22M – $4.29M
NOI $257,552 @ 7.0% cap · market cap 14.32%
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
1,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Four-family corner property with finished basement, private driveway, and attached garage.
Where is this quadplex located?
The property is located at 1204 E 72nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Four‑family configuration with 10 bedrooms and 6 bathrooms; Approximately 4,443.62 square feet of renovated living space; 41.5 ft. x 99.25 ft. corner lot
