Bedford-Stuyvesant Four-Family
For Sale
$1,999,000
Pending
626 Madison St, Brooklyn, NY 11221
Move-in ready, fully vacant four-family home in Bedford-Stuyvesant.
Property Size3,840 SF
Lot Size0.05 Acres
Days on Market161
Property Features for 626 Madison St
General Information
Standard status
Pending
Size
3,840 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,627
Building Details
Building Size
3,840 SF
Year Built
1899
Units
4
Listing Agency:
Oversouth LLC
(516) 776-2826
Listed By:
Jenna Coni
(516) 776-2826
Source:
Elliman
Added: Mar 11
Changed: Aug 13
Last Checked: Aug 13 at 12:44PM
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 Oversouth LLC
Investment Insights
Based on property information with market context.
This fully detached four-family residence is located in the Bedford-Stuyvesant neighborhood on a 20x100 lot. The property features four separate residential units, offering versatility for multi-generational living, rental income, or work-from-home space. The layout includes two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Each apartment features high ceilings, hardwood flooring, central air, and natural light. The kitchens are updated with granite countertops, stainless steel appliances, and cabinetry. The bathrooms have also been upgraded and are well-maintained. As a fully detached structure, the home enjoys light and cross-ventilation on all sides. The property is equipped with four gas meters, four electric meters, and four separate gas heating systems. The property is located near cafes, restaurants, parks, and transportation options.
Key Highlights
- Fully Vacant Four‑Family Residence: Move‑in ready with exceptional versatility.
- Four Separate Units: Includes two 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath units.
- Updated Interiors: Features high ceilings, hardwood flooring, central air, granite countertops, stainless steel appliances, and upgraded bathrooms in all units.
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
$134,483
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
6.73%
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%
$2,689,660
$2.7M
Cap Rate 7%
$1,921,186
$1.9M
Cap Rate 9%
$1,494,256
$1.5M
Market Conditions
NOI Build-Up for 3,840 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
$195.8K $51.00/SF
− Vacancy
−$3.7K −$0.97/SF
EGI
$192.1K $50.03/SF
− OpEx
−$57.6K −$15.01/SF
NOI
$134.5K $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%
$2,689,660
Cap Rate 7%
$1,921,186
Cap Rate 9%
$1,494,256
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,483 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$1.67M
$1.47M – $1.95M
NOI $117,231 @ 7.0% cap · market cap 5.86%
Theoretical Best
Specialty Retail
$3.18M
$2.78M – $3.71M
NOI $222,566 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,518
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 - Move-in ready, fully vacant four-family home in Bedford-Stuyvesant.
Where is this quadplex located?
The property is located at 626 Madison St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Fully Vacant Four‑Family Residence: Move‑in ready with exceptional versatility.; Four Separate Units: Includes two 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath units.; Updated Interiors: Features high ceilings, hardwood flooring, central air, granite countertops, stainless steel appliances, and upgraded bathrooms in all units.
