Oversized Corner Brick Two-Family

1 Bay Ridge Pkwy Brooklyn, NY 11209

Claim this Listing
For Sale
$2,500,000

A corner two-family with terraces, hardwood interiors, and flexible basement space with separate entrances.

Type:Multi Family
Property size:
5,100 SF
Price / SF:
$490/SF
Added:
Jun 3, 2026
Days on Market:
40
Last Refresh:
Jun 6 at 1:55 am

Property Features for 1 Bay Ridge Pkwy

General Information

Standard status
Active
Size
5,100 SF
Property subtype
Multi Family

Building Details

Year Built
1970

Listing office Womcore LLC dba Remax Edge

Listing date Jun 3, 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 Womcore LLC dba Remax Edge


Investment Insights

Based on property information with market context.

This rare oversized corner brick two-family residence offers substantial interior flexibility and distinctive outdoor space. The home’s first-floor unit features two bedrooms, a spacious living room, a formal dining room, and one full bathroom. The second-floor residence includes three bedrooms, two full bathrooms, and separate living and dining rooms with abundant natural light and hardwood flooring throughout. Front and rear terraces provide outdoor space with waterfront and park views. There is also a high-ceiling basement of substantial size with separate entrances, which was formerly used as a medical office and could support a range of professional or personal uses, along with storage. Additional features include oversized windows with open exposures, a private driveway, and double-car garages.

Located on Shore Road in Bay Ridge, the property sits directly across from Shore Road parks, the waterfront promenade, biking paths, and recreation fields. The setting supports an active, waterfront lifestyle while remaining convenient for everyday access.

From a tenant or owner-operator perspective, the layout supports separate above-grade living spaces while preserving the option to adapt the basement for an office, recreation, or additional use depending on the operator’s needs. With multiple separate entrances and distinct living levels, it can also work well for households seeking privacy while staying connected within the same property.

Key Highlights

  • Oversized corner brick 2‑family residence with waterfront and park views in Bay Ridge
  • Approx. 3,400 sq ft of living space plus an additional 1,700 sq ft high‑ceiling basement with separate entrances
  • Basement previously used as a medical office, offering flexible space for professional use, recreation, storage, or more

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $260.1k $51.00
− Vacancy −$4.9k −$0.97
EGI $255.2k $50.03
− OpEx −$76.5k −$15.01
NOI $178.6k $35.02
5,100 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$2.55M
$2.23M – $2.98M (±1% cap)
NOI $178,611 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$2.22M
$1.95M – $2.59M (±1% cap)
NOI $155,698 @ 7.0% cap · market cap 6.23%
Theoretical Best
Specialty Retail
$4.22M
$3.69M – $4.93M (±1% cap)
NOI $295,596 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Aiello Michael MD Physician

Suggested Use

Law Firm Real Estate Agency Parking Lot & Garage Hotel & Motel Gym & Fitness Center Daycare Center Building Supply Auto Repair Shop HVAC Service Kitchen & Bath Showroom

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

FAQs

What type of property is this?
Duplex - A corner two-family with terraces, hardwood interiors, and flexible basement space with separate entrances.
Where is this duplex located?
The property is located at 1 Bay Ridge Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Oversized corner brick 2‑family residence with waterfront and park views in Bay Ridge; Approx. 3,400 sq ft of living space plus an additional 1,700 sq ft high‑ceiling basement with separate entrances; Basement previously used as a medical office, offering flexible space for professional use, recreation, storage, or more
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