Zoned R6B Residential Development
318 23rd Street Brooklyn, NY 11215
For Sale
$2,800,000
For sale residential income property featuring a lot sized for development and zoned R6B in Brooklyn.
Property Size5,940 SF
Lot Size0.11 Acres
Price / SF$471.38
Days on Market565
Property Features for 318 23rd Street
General Information
Standard status
Active
Size
5,940 SF
Lot size
0.11 Acres
Property subtype
Multi Family
Building Details
Year Built
1931
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Billy E. Apter · License #BEA5721
(718) 532-2000
Source:
Exitrealty
Added: Jan 9, 2025
Changed: Jul 22
Last Checked: Jul 27 at 4:04AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This for-sale residential income property at 318 23rd Street, Brooklyn, NY 11215 presents a development-oriented lot with dimensions of 50x100. The site is zoned R6B, providing a defined zoning framework for prospective planning and design.
The property is being marketed as a builder/developer opportunity, with the current offering focused on the land itself and the ability to consult with an architect regarding potential uses consistent with zoning requirements.
All information provided is based on the listing remarks and zoning detail supplied, including the R6B zoning classification and 50x100 lot size.
The property is being marketed as a builder/developer opportunity, with the current offering focused on the land itself and the ability to consult with an architect regarding potential uses consistent with zoning requirements.
All information provided is based on the listing remarks and zoning detail supplied, including the R6B zoning classification and 50x100 lot size.
Key Highlights
- 50x100 lot with development‑focused residential income property in Brooklyn
- Zoned R6B
- Year built: 1931
Financial Insights For Apartment 5plus
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 | $336.4k | $56.64 |
| − Vacancy | −$6.7k | −$1.13 |
| EGI | $329.7k | $55.51 |
| − OpEx | −$148.4k | −$24.98 |
| NOI | $181.3k | $30.53 |
5,940 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.27M – $3.02M
NOI $181,342 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.92M
$4.30M – $5.74M
NOI $344,282 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Residential income property - For sale residential income property featuring a lot sized for development and zoned R6B in Brooklyn.
Where is this residential income property located?
The property is located at 318 23rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 50x100 lot with development‑focused residential income property in Brooklyn; Zoned R6B; Year built: 1931
