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    Greenpoint Two-Family Home Near Park Title is generated by Realmo AI

    105 MONITOR St, Brooklyn, NY 11222

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    For Sale
    $2,400,000

    Two-family home near McGolrick Park, ideal for renovation.

    Type:Multi Family
    Lot size:
    0.04 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    71
    Last Refresh:
    Mar 25 at 5:30 am

    Property Features for 105 MONITOR St

    General Information

    Standard status
    Active
    Lot size
    0.04 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    David A Kazemi
    David A Kazemi

    Listing agent David A Kazemi License #10301217620

    Listing office Williamsburg

    Listing date Mar 26, 2026

    Source Elliman

    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 Williamsburg

    HighLights

    • Prime Greenpoint location: Steps from McGolrick Park, close to dining, arts, and shopping.
    • Two‑family home with potential for conversion to a grand single‑family townhouse.
    • Estate sale: Opportunity for a complete custom renovation.
    • Private rear garden with a functional shed.
    • Excellent transportation: Close to G and L trains, BQE, and LIE.
    • Expansion potential due to generous Floor Area Ratio (FAR).

    Overview

    Located steps from McGolrick Park on a tree-lined street, this two-family home in Greenpoint presents an opportunity for end-users and investors. The property, offered as an estate sale, features a classic layout configured as two spacious units. It is suited either for use as an investment property or conversion into a grand single-family townhouse. A private rear garden provides outdoor space, and includes a functional shed. The property's Floor Area Ratio allows for potential expansion of the existing footprint, subject to independent verification. The property is located close to dining options such as Chrissy's Pizza, Diamond Slice, Nura, Bernie's, and Variety Coffee, and near art galleries like The Journal Gallery. The area also features artist studios, pop-up art shows, and community cultural events. Recreation options include McGolrick Park, with its weekend farmers market, dog run, and pavilion, as well as play spaces and the renovated facilities at McCarren Park. Transportation options include the G train at Nassau Avenue and the L train at Graham Avenue, with access to the BQE (I-278) and the LIE (I-495). The property is sold "as-is," allowing for a complete custom renovation, and offers double exposure to natural light throughout the day. It is located half a block from the park and minutes from Driggs Avenue shopping.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.94243
    Latitude
    40.722797

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    FAQs

    What type of property is this?
    Duplex - Two-family home near McGolrick Park, ideal for renovation.
    Where is this duplex located?
    The property is located at 105 MONITOR St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Prime Greenpoint location: Steps from McGolrick Park, close to dining, arts, and shopping.; Two‑family home with potential for conversion to a grand single‑family townhouse.; Estate sale: Opportunity for a complete custom renovation.
    (646) 756-9561
    We can help!
    Listing Contact
    David A Kazemi
    David A Kazemi
    Real Estate License ID: 10301217620
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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