Modern Gravesend Two-Family
For Sale
$1,400,000
154 Bay 53rd St, Brooklyn, NY 11214
New construction two-family home with private parking and outdoor space.
Property Size2,590 SF
Lot Size0.07 Acres
Days on Market104
Property Features for 154 Bay 53rd St
General Information
Standard status
Active
Size
2,590 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,849
Building Details
Building Size
2,590 SF
Year Built
2022
Stories
3
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Ping Chen
(718) 612-3088
Source:
Elliman
Added: May 15
Changed: Aug 22
Last Checked: Aug 25 at 7:42AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This newly constructed, semi-attached two-family brick residence is located in Gravesend. The property, situated on a 30x100 lot with a 20x51 building footprint, features a private driveway, a built-in garage, and a carport. Elevator access is available from the ground level to the first floor. The lower level, with a separate private entrance, features an open-concept layout with tile flooring, a laundry area, and access to a private backyard. This space is suitable for a recreation room, home office, or fitness studio. The upper residences include living and dining areas, modern kitchens with premium cabinetry and granite countertops, three bedrooms, and two full bathrooms. The top-floor residence includes two private balconies. Additional features include bay windows, engineered wood flooring, and ductless heating and cooling systems. The property is located near Six Diamonds Park, dining, shopping, banks, public transportation, major highways, and Brooklyn’s beaches. The bike score is 67, making it bikeable. The walk score is 83, indicating it is very walkable. The transit score is 88, indicating excellent transit options.
Key Highlights
- New construction 2‑family brick residence in prime Gravesend location.
- Private driveway, built‑in garage, and additional carport parking.**
- Elevator access from ground level to the first floor.**
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
$70,642
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
5.05%
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%
$1,412,840
$1.4M
Cap Rate 7%
$1,009,171
$1.0M
Cap Rate 9%
$784,911
$784.9K
Market Conditions
NOI Build-Up for 2,590 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
$105.7K $40.80/SF
− Vacancy
−$4.8K −$1.84/SF
EGI
$100.9K $38.96/SF
− OpEx
−$30.3K −$11.69/SF
NOI
$70.6K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,412,840
Cap Rate 7%
$1,009,171
Cap Rate 9%
$784,911
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$883.0K – $1.18M
NOI $70,642 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$904.4K
$791.4K – $1.06M
NOI $63,311 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,762 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Duplex - New construction two-family home with private parking and outdoor space.
Where is this duplex located?
The property is located at 154 Bay 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: New construction 2‑family brick residence in prime Gravesend location.; Private driveway, built‑in garage, and additional carport parking.**; Elevator access from ground level to the first floor.**
