Brick Multifamily
For Sale
$1,378,000
1278 E 70th Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size3,784 SF
Lot Size0.11 Acres
Price / SF$364.16
Days on Market56
Property Features for 1278 E 70th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bedrooms
8
Bathrooms
7
Full bathrooms
5
Half bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 7, Bedroom 7, Bedroom 5, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 8, Bedroom 2, Bedroom 6
Interior features
Microwave, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Georgetown
Standard status
Active
Size
3,784 SF
Lot size
0.11 Acres
Amenities
private balconies
backyard
recreation room
Building Details
Year built
1975
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Talk of the Town Realty Corp.
(718) 251-7400
Listed By:
Keren Shalmoni
(718) 251-7400
Added: Jul 6
Changed: Aug 18
Last Checked: Aug 30 at 1:06PM
MLS# 502826
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,784-square-foot semi-detached brick multifamily property was built in 1975 on a 0.1062-acre lot measuring 31 by 150 feet. The building footprint is approximately 22 by 60 feet and includes a top-floor three-bedroom duplex with two bathrooms, plus a middle-floor five-bedroom duplex with three bathrooms, two kitchens, a lower level, and a separate side entrance. A finished basement adds two multipurpose rooms, a bathroom, a summer kitchen, and its own entrance.
Hardwood flooring, kitchens, bathrooms, private balconies, storage areas, and a recreation room are among the interior and exterior features. The property also includes parking for five vehicles and a large backyard. It is zoned R3-2 and located at 1278 E 70th Street in Brooklyn, near Georgetown Shopping Center, transportation, schools, and parks.
Hardwood flooring, kitchens, bathrooms, private balconies, storage areas, and a recreation room are among the interior and exterior features. The property also includes parking for five vehicles and a large backyard. It is zoned R3-2 and located at 1278 E 70th Street in Brooklyn, near Georgetown Shopping Center, transportation, schools, and parks.
Key Highlights
- 3,784 SF multifamily property on a 0.1062‑acre lot
- Two duplex apartments: 3 bedrooms/2 bathrooms and 5 bedrooms/3 bathrooms
- Finished basement with 2 multipurpose rooms, bathroom, summer kitchen, and separate entrance
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
$115,522
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
8.38%
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%
$2,310,440
$2.3M
Cap Rate 7%
$1,650,314
$1.7M
Cap Rate 9%
$1,283,578
$1.3M
Market Conditions
NOI Build-Up for 3,784 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
$214.3K $56.64/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$210.0K $55.51/SF
− OpEx
−$94.5K −$24.98/SF
NOI
$115.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,310,440
Cap Rate 7%
$1,650,314
Cap Rate 9%
$1,283,578
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.93M
NOI $115,522 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.13M
$2.74M – $3.66M
NOI $219,321 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - The building carries R3-2 zoning with separate entrances, private balconies, and on-site parking.
Where is this multifamily property located?
The property is located at 1278 E 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,378,000.
What are key features of this property?
This property features: 3,784 SF multifamily property on a 0.1062‑acre lot; Two duplex apartments: 3 bedrooms/2 bathrooms and 5 bedrooms/3 bathrooms; Finished basement with 2 multipurpose rooms, bathroom, summer kitchen, and separate entrance
