Apartment Building with Retail
For Sale
Under Contract
$6,200,000
129 S 4th Street, Brooklyn, NY 11249
MULTI_FAMILY - Brooklyn, NY
Property Size16,435 SF
Lot Size0.09 Acres
Price / SF$377.24
Days on Market273
Property Features for 129 S 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Mixed Use
Bedrooms
35
Bathrooms
14
Full bathrooms
14
Rooms
Bedroom 26, Bedroom 11, Bedroom 31, Bedroom 20, Bathroom 10, Bathroom 7, Bedroom 19, Bathroom 5, Bathroom 8, Bathroom 14, Bedroom 17, Bedroom 2, Bedroom 29, Bathroom 9, Bedroom 14, Bedroom 34, Bedroom 16, Bedroom 32, Bedroom 13, Bedroom 23, Bedroom 6, Bedroom 30, Bedroom 22, Bedroom 28, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 15, Bedroom 25, Bedroom 10, Bedroom 35, Bedroom 7, Bathroom 6, Bedroom 33, Bedroom 12, Bathroom 2, Bathroom 13, Bedroom 5, Bedroom 27, Bedroom 1, Bedroom 3, Bedroom 18, Bathroom 3, Bedroom 24, Bathroom 12, Bedroom 21, Bathroom 11, Bedroom 8, Bedroom 9
Subdivision
Williamsburg
Standard status
Active Under Contract
Lot size
0.09 Acres
Building Details
Year built
1910
Floors in Building
4
Building materials
Brick
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(646) 838-1378
Added: Nov 20, 2025
Changed: Aug 3
Last Checked: Aug 20 at 2:06AM
MLS# 11609598
Copyright © 2026 My State MLS. 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.
Four-story corner mixed-use apartment building built in 1910 with brick construction. The property totals 16,435 square feet and includes 3 retail spaces and 14 apartments. The residential unit mix features 4 rent-stabilized units, 2 rent-controlled units, and 8 free-market units.
Set on a 4,109 square-foot lot, the building measures 47.5' x 86.5'. It has substantial corner frontage on Bedford Avenue (over 47 feet) and 4th Street (over 86 feet).
The apartment and retail configuration supports day-to-day operating flexibility, with residential units spanning multiple rent regimes within a single four-story structure.
Set on a 4,109 square-foot lot, the building measures 47.5' x 86.5'. It has substantial corner frontage on Bedford Avenue (over 47 feet) and 4th Street (over 86 feet).
The apartment and retail configuration supports day-to-day operating flexibility, with residential units spanning multiple rent regimes within a single four-story structure.
Key Highlights
- 16,435 SF corner mixed‑use apartment building with 3 retail spaces
- 14 apartments: 4 rent‑stabilized, 2 rent‑controlled, 8 free market
- Brick construction built in 1910; four stories
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
$501,743
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
8.09%
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%
$10,034,860
$10.0M
Cap Rate 7%
$7,167,757
$7.2M
Cap Rate 9%
$5,574,922
$5.6M
Market Conditions
NOI Build-Up for 16,435 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
$930.9K $56.64/SF
− Vacancy
−$18.6K −$1.13/SF
EGI
$912.3K $55.51/SF
− OpEx
−$410.5K −$24.98/SF
NOI
$501.7K $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%
$10,034,860
Cap Rate 7%
$7,167,757
Cap Rate 9%
$5,574,922
Alternative Uses
Best Use
Apartment 5plus
$7.17M
$6.27M – $8.36M
NOI $501,743 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.61M
$11.91M – $15.88M
NOI $952,573 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
7,482
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four-story corner mixed-use building with 14 apartments and 3 retail spaces.
Where is this apartment building located?
The property is located at 129 S 4th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 16,435 SF corner mixed‑use apartment building with 3 retail spaces; 14 apartments: 4 rent‑stabilized, 2 rent‑controlled, 8 free market; Brick construction built in 1910; four stories
