Detached Three-Family Development
39 Bay 22nd St Brooklyn, NY 11214
39 Bay 22nd St, Brooklyn, NY, 11214
$2,300,000
For Sale
$2,300,000
Vacant, as-is three-family residence on an oversized lot in an R5 district with room for major expansion.
Property Size3,450 SF
Lot Size0.13 Acres
Price / SF$666.67
Days on Market26
Property Features for 39 Bay 22nd St
General Information
- Standard status
- Active
- Size
- 3,450 SF
- Lot size
- 0.13 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1935
Listing Agency
Keller Williams Realty
(845) 610-6065
Listed by
John Coladonato
(845) 610-6065
Source
Elliman
Added: Jun 21 Checked: Jul 15 at 10:57 pm
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Set on a 60 ft x 97 ft lot, this detached three-family residence was built in 1935 and is offered strictly “AS-IS.” The current building contains approximately 3,450 square feet and totals 5,800 square feet of lot area. Located in an R5 zoning district with a maximum 2.0 FAR, the site presents an estimated maximum buildable envelope of up to 8,700 square feet, with approximately 5,278 square feet of unused floor area for an expanded buildout. The property is being sold as a developer/investor blank canvas for new multi-family development, substantial value-add expansion, or condominium conversion.
The property is positioned in Bath Beach, within School District 20, and is described as close to local transit, public safety stations, shopping, and dining. At closing, the property will be delivered vacant and broom-swept.
For builders and experienced multifamily developers, the combination of an oversized lot and the stated R5 envelope supports planning flexibility for a larger redevelopment footprint. Given the “AS-IS” delivery and significant unused floor area, buyers are encouraged to bring their architect to evaluate the site and confirm all development assumptions independently.
The property is positioned in Bath Beach, within School District 20, and is described as close to local transit, public safety stations, shopping, and dining. At closing, the property will be delivered vacant and broom-swept.
For builders and experienced multifamily developers, the combination of an oversized lot and the stated R5 envelope supports planning flexibility for a larger redevelopment footprint. Given the “AS-IS” delivery and significant unused floor area, buyers are encouraged to bring their architect to evaluate the site and confirm all development assumptions independently.
Key Highlights
- 1935 detached property configured as a 3,450 SF three‑family residence (sold strictly AS‑IS)
- 60 ft x 97 ft lot totaling 5,800 SF with approximately 5,278 SF of unused floor area
- R5 zoning with maximum 2.0 FAR and maximum buildable envelope up to 8,700 SF
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 | $140.8k | $40.80 |
| − Vacancy | −$6.3k | −$1.84 |
| EGI | $134.4k | $38.96 |
| − OpEx | −$40.3k | −$11.69 |
| NOI | $94.1k | $27.27 |
3,450 SF · lease $40.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.18M – $1.57M
NOI $94,098 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.41M
NOI $84,333 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,879 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Vacant, as-is three-family residence on an oversized lot in an R5 district with room for major expansion.
Where is this triplex located?
The property is located at 39 Bay 22nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 1935 detached property configured as a 3,450 SF three‑family residence (sold strictly AS‑IS); 60 ft x 97 ft lot totaling 5,800 SF with approximately 5,278 SF of unused floor area; R5 zoning with maximum 2.0 FAR and maximum buildable envelope up to 8,700 SF
