Luxury Atelier in Sunset
For Sale
$1,999,000
821 39th St, Brooklyn, NY 11232
Turnkey, two-story luxury atelier and designer showroom in Brooklyn.
Property Size3,500 SF
Lot Size0.08 Acres
Price / SF$799.60
Days on Market112
Property Features for 821 39th St
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,733
Building Details
Building Size
3,500 SF
Year Built
2000
Stories
2
Listing Agency:
CENTURY 21 Zaloom Realty
(929) 460-0008
Listed By:
Yeeon Lu · License #10491214007
(929) 460-0008
Source:
Elliman
Added: Apr 24
Changed: Aug 9
Last Checked: Aug 12 at 6:49AM
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 CENTURY 21 Zaloom Realty
Investment Insights
Based on property information with market context.
This two-story luxury atelier and designer showroom features finished walls, architectural ceilings, and a premium material palette with White & Red Oak throughout the gallery level and bamboo detailing in the upstairs private studio. Enhanced by private parking and a second-floor terrace, this property is a refined brand headquarters. The versatile two-story commercial building is located in Sunset Park and spans approximately 2,500 interior square feet on a 3,500 square-foot lot. Built in 2000, it is equipped with four separate HVAC systems to support flexible layouts and multi-tenant use. It is located minutes from public transit, including the NYC Subway D line at 9th Avenue Station, set within a high-foot-traffic residential-and-commercial corridor offering visibility and steady customer flow. The location has a bike score of 79, a walk score of 98, and a transit score of 100.
Key Highlights
- Turnkey, two‑story luxury atelier/designer showroom with high‑end finishes.
- Prime Sunset Park location with high visibility, foot traffic, and excellent transit access.
- Versatile 2,500 sq ft commercial building on a 3,500 sq ft 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
$119,886
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
6.00%
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%
$2,397,720
$2.4M
Cap Rate 7%
$1,712,657
$1.7M
Cap Rate 9%
$1,332,067
$1.3M
Market Conditions
NOI Build-Up for 2,500 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
$194.4K $77.76/SF
− Vacancy
−$23.1K −$9.25/SF
EGI
$171.3K $68.51/SF
− OpEx
−$51.4K −$20.55/SF
NOI
$119.9K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$2,397,720
Cap Rate 7%
$1,712,657
Cap Rate 9%
$1,332,067
Alternative Uses
Best Use
Retail
$1.71M
$1.50M – $2.00M
NOI $119,886 @ 7.0% cap · market cap 6.00%
Second Best
Office B
$891.0K
$779.6K – $1.04M
NOI $62,370 @ 7.0% cap · market cap 3.12%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $144,900 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,588
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - Turnkey, two-story luxury atelier and designer showroom in Brooklyn.
Where is this showroom located?
The property is located at 821 39th 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: Turnkey, two‑story luxury atelier/designer showroom with high‑end finishes.; Prime Sunset Park location with high visibility, foot traffic, and excellent transit access.; Versatile 2,500 sq ft commercial building on a 3,500 sq ft lot.
