Five-Unit Apartment
For Sale
$3,999,000
128 N 1st St, Brooklyn, NY 11249
A varied residential layout includes a finished basement and multiple bedroom configurations.
Property Size3,750 SF
Price / SF$1,066
Days on Market49
Property Features for 128 N 1st St
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Commercial
Units
Unit Mix
4 x 2BR, 1 x 3BR
Multifamily Units
5
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,417
Building Details
Building Size
3,750 SF
Year Built
1910
Units
5
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Joshua Mohamed · License #10401348915
(917) 364-2922
Source:
Elliman
Added: Sep 15
Changed: Oct 25
Last Checked: Nov 1 at 5:47AM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This 1910 apartment building comprises five residential units, including four two-bedroom apartments and one three-bedroom apartment. The property provides 3,750 square feet of residential space and includes a full finished basement, creating additional interior area within the building. The asset is being offered and sold as-is.
Located at 128 N 1st St in Williamsburg, Brooklyn, the property has strong walkability and transit access, reflected in its Walk Score of 96 and Transit Score of 94. Its Bike Score is 90. The surrounding neighborhood is also identified with residential dining, shopping, arts, waterfront, and entertainment amenities, along with transportation options to Manhattan.
Located at 128 N 1st St in Williamsburg, Brooklyn, the property has strong walkability and transit access, reflected in its Walk Score of 96 and Transit Score of 94. Its Bike Score is 90. The surrounding neighborhood is also identified with residential dining, shopping, arts, waterfront, and entertainment amenities, along with transportation options to Manhattan.
Key Highlights
- Five‑unit apartment building with four two‑bedroom apartments and one three‑bedroom apartment
- 3,750 sqft building area
- Full, finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,484
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,289,680
$2.3M
Cap Rate 7%
$1,635,486
$1.6M
Cap Rate 9%
$1,272,044
$1.3M
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$212.4K $56.64/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$208.2K $55.51/SF
− OpEx
−$93.7K −$24.98/SF
NOI
$114.5K $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 Rate 5%
$2,289,680
Cap Rate 7%
$1,635,486
Cap Rate 9%
$1,272,044
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,484 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.10M
$2.72M – $3.62M
NOI $217,350 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
7,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 11249, NY
42,024
Population
18,958
Households
2.2
Avg Household Size
31
Median Age
59%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
60,034
Density / Sq Mi
$121,400
Median Household Income
$81,638
Median Earnings
$2,982
Median Rent
$1,326,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied residential layout includes a finished basement and multiple bedroom configurations.
Where is this apartment building located?
The property is located at 128 N 1st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: Five‑unit apartment building with four two‑bedroom apartments and one three‑bedroom apartment; 3,750 sqft building area; Full, finished basement
