Historic Brownstone
For Sale
$3,499,000
121 Hancock Street, Brooklyn, NY 11216
Residential Income, Brooklyn, NY
Property Size4,400 SF
Lot Size0.10 Acres
Price / SF$795.23
Days on Market146
Property Features for 121 Hancock Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2
Interior features
Entrance Foyer
Fireplace
1
Subdivision
Bedford-Stuyvesant
Standard status
Active
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
5500
Utilities
Heating system
Steam, Natural Gas
Water source
Public
Amenities
fireplaces
backyard
Building Details
Year built
1890
Floors in Building
4
Flooring type
Hardwood, Tile
Building materials
Stone, Masonite
Roof type
Rubber
Architectural style
Other
Listing Agency:
SAINT WALKER REALTY INC
Listed By:
Rudolph Walker
(646) 348-0899
Added: Apr 15
Changed: Sep 5
Last Checked: Sep 7 at 6:06AM
MLS# 11738795
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1890, this 4,400-square-foot Brooklyn brownstone is configured as a triplex with six bedrooms and three bathrooms. The property retains walnut wood wainscoting, white oak parquet flooring with mahogany inlays, five slate and marble fireplaces, and a solid oak spiral staircase serving the owner's duplex. A 2-bedroom top-floor rental and a 1-bedroom garden unit provide distinct residential spaces, with the garden unit offering backyard access.
Modern improvements include updated electrical service with a 100-amp riser, plumbing, gas heating, and drainage. The 0.101-acre property is supplied by public water and has a rubber roof. Located at 121 Hancock Street in Brooklyn's Bedford-Stuyvesant area, the property is two blocks from the A/C trains at Fulton Street and sits between Nostrand Avenue and Bedford Avenue.
Modern improvements include updated electrical service with a 100-amp riser, plumbing, gas heating, and drainage. The 0.101-acre property is supplied by public water and has a rubber roof. Located at 121 Hancock Street in Brooklyn's Bedford-Stuyvesant area, the property is two blocks from the A/C trains at Fulton Street and sits between Nostrand Avenue and Bedford Avenue.
Key Highlights
- 4,400‑square‑foot brownstone built in 1890
- Triplex configuration with 6 bedrooms and 3 bathrooms
- 2‑bedroom top‑floor rental plus 1‑bedroom garden unit
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
$154,095
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
4.40%
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%
$3,081,900
$3.1M
Cap Rate 7%
$2,201,357
$2.2M
Cap Rate 9%
$1,712,167
$1.7M
Market Conditions
NOI Build-Up for 4,400 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
$224.4K $51.00/SF
− Vacancy
−$4.3K −$0.97/SF
EGI
$220.1K $50.03/SF
− OpEx
−$66.0K −$15.01/SF
NOI
$154.1K $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%
$3,081,900
Cap Rate 7%
$2,201,357
Cap Rate 9%
$1,712,167
Alternative Uses
Best Use
Multifamily LT 5
$2.20M
$1.93M – $2.57M
NOI $154,095 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,327 @ 7.0% cap · market cap 3.84%
Theoretical Best
Specialty Retail
$3.64M
$3.19M – $4.25M
NOI $255,024 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,956
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit Brooklyn brownstone with period detailing, updated building systems, and separate rental accommodations.
Where is this triplex located?
The property is located at 121 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: 4,400‑square‑foot brownstone built in 1890; Triplex configuration with 6 bedrooms and 3 bathrooms; 2‑bedroom top‑floor rental plus 1‑bedroom garden unit
