Brick Four-Family
For Sale
$2,700,000
124 President Street, Brooklyn, NY 11231
Currently arranged as four apartments with a full basement, rear garden, and flexible multi-level layout.
Property Size3,680 SF
Price / SF$733.70
Days on Market12
Property Features for 124 President Street
General Information
Standard status
Active
Size
3,680 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Amenities
full basement
rear garden
Building Details
Building Size
3,680 SF
Year Built
1900
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Brownstone Real Estate LLC
Listed By:
Michael Vincent DiMartino
(718) 855-4111
Source:
Carlinwright
Added: Sep 16
Changed: Sep 27
Last Checked: Sep 26 at 2:58PM
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 Brownstone Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1900, 124 President Street is a brick townhouse configured as four apartments across approximately 3,680 square feet. The property includes a full basement, rear garden, and multi-level layout, providing a defined four-family configuration with additional flexibility for an alternative arrangement.
Located in Brooklyn’s Columbia Street Waterfront District, the property is near Brooklyn Bridge Park, neighborhood dining, and local shops. Subway and ferry connections are also nearby. The existing layout and townhouse format support continued use as a quadplex or evaluation of other configurations, subject to applicable requirements.
Located in Brooklyn’s Columbia Street Waterfront District, the property is near Brooklyn Bridge Park, neighborhood dining, and local shops. Subway and ferry connections are also nearby. The existing layout and townhouse format support continued use as a quadplex or evaluation of other configurations, subject to applicable requirements.
Key Highlights
- Four‑family brick townhouse configured as four apartments
- Approximately 3,680 square feet
- Full basement and rear garden
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
$128,880
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
4.77%
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%
$2,577,600
$2.6M
Cap Rate 7%
$1,841,143
$1.8M
Cap Rate 9%
$1,432,000
$1.4M
Market Conditions
NOI Build-Up for 3,680 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
$187.7K $51.00/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$184.1K $50.03/SF
− OpEx
−$55.2K −$15.01/SF
NOI
$128.9K $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%
$2,577,600
Cap Rate 7%
$1,841,143
Cap Rate 9%
$1,432,000
Alternative Uses
Best Use
Multifamily LT 5
$1.84M
$1.61M – $2.15M
NOI $128,880 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $112,347 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$3.05M
$2.67M – $3.55M
NOI $213,293 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Quadplex - Currently arranged as four apartments with a full basement, rear garden, and flexible multi-level layout.
Where is this quadplex located?
The property is located at 124 President Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Four‑family brick townhouse configured as four apartments; Approximately 3,680 square feet; Full basement and rear garden
