Two-Unit Townhouse with Private
For Sale
$1,495,000
Pending
78 Pilling St, Brooklyn, NY 11207
Renovated, four-floor two-unit townhouse with hardwood floors, exposed brick, and a private garden; currently vacant.
Property Size3,300 SF
Days on Market51
Property Features for 78 Pilling St
General Information
Standard status
Pending
Size
3,300 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,668
Amenities
recreation area
private garden
Building Details
Building Size
3,300 SF
Year Built
1905
Stories
4
Units
2
Tenancy
Multi
Listing Agency:
Corcoran Group
Listed By:
Quinn Hagstrand · License #10401212182 (NY)
(917) 626-6597
Source:
Elliman
Added: Jul 21
Changed: Aug 25
Last Checked: Sep 8 at 7:10AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
78 Pilling St is a renovated, 20-ft wide, two-unit townhouse spanning four floors and approximately 3,300 square feet. The parlor level duplex includes two bedrooms, three bathrooms, high parlor ceilings, hardwood floors, and original exposed brick. A fully finished recreation area and private garden add usable living space, and the bedrooms face the backyard with southeast exposures. The vented chef’s kitchen features GE Profile stainless steel appliances, a center island, and a built-in wine fridge.
A second, upstairs residence offers a three-bedroom, two-bath layout with a similar configuration, high ceilings, more exposed brick, and ample natural light. The home is currently vacant. Located in Bushwick on a tree-lined street, it is described as moments from multiple subway lines (L, A, C, J & Z), with very walkable amenities nearby.
A second, upstairs residence offers a three-bedroom, two-bath layout with a similar configuration, high ceilings, more exposed brick, and ample natural light. The home is currently vacant. Located in Bushwick on a tree-lined street, it is described as moments from multiple subway lines (L, A, C, J & Z), with very walkable amenities nearby.
Key Highlights
- Renovated 20‑ft wide, two‑unit townhouse built in 1905 with 3,300 SF across four floors
- Parlor‑level unit: 2‑bedroom, 3‑bath duplex with fully finished recreation area and private garden
- Second residence: 3‑bedroom, 2‑bath apartment, renovated with a similar high‑ceiling layout
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
$115,572
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
7.73%
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%
$2,311,440
$2.3M
Cap Rate 7%
$1,651,029
$1.7M
Cap Rate 9%
$1,284,133
$1.3M
Market Conditions
NOI Build-Up for 3,300 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
$168.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$165.1K $50.03/SF
− OpEx
−$49.5K −$15.01/SF
NOI
$115.6K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,311,440
Cap Rate 7%
$1,651,029
Cap Rate 9%
$1,284,133
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,572 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 6.74%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,624
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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?
Duplex - Renovated, four-floor two-unit townhouse with hardwood floors, exposed brick, and a private garden; currently vacant.
Where is this duplex located?
The property is located at 78 Pilling St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Renovated 20‑ft wide, two‑unit townhouse built in 1905 with 3,300 SF across four floors; Parlor‑level unit: 2‑bedroom, 3‑bath duplex with fully finished recreation area and private garden; Second residence: 3‑bedroom, 2‑bath apartment, renovated with a similar high‑ceiling layout
