Landmarked Two-Family Renaissance
866 PROSPECT Pl Brooklyn, NY 11216
For Sale
$3,250,000
Four-story two-family with a 4-bedroom owner's triplex over an income-generating 3-bedroom garden-level apartment.
Property Size6,000 SF
Price / SF$541.67
Days on Market72
Property Features for 866 PROSPECT Pl
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing Agency:
(917) 833-0009
Listed By:
Andrea Helen Ryder · License #10401267395 (NY)
(917) 833-0009
Source:
Elliman
Added: May 15
Changed: Jul 23
Last Checked: Jul 24 at 10:30AM
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 Andrea Helen Ryder
Investment Insights
Based on property information with market context.
Welcome to 866 Prospect Place, a landmarked Renaissance Revival limestone two-family built in 1897 by architect George P. Chappell. Set on an expansive 125-foot-deep lot, the four-story residence presents a 4-bedroom owner’s triplex over an expansive 3-bedroom garden-level apartment. Architectural details include polygonal bay windows, arched parlor transoms, and intricate floral relief carvings.
The parlor level features soaring ceiling heights, a sweeping flared staircase, and a light-filled living room, with an eat-in kitchen that opens to a private morning deck. The dining room includes vaulted ceilings, pocket doors, brass hardware, and original cabinetry. The upper floors emphasize privacy and flexibility, with two en-suite bedrooms on the third floor and the entire fourth floor dedicated to a bright primary suite with additional bonus rooms.
The garden rental is a three-bedroom, one-bathroom floor-through home with its own washer/dryer and dishwasher. Updates include refreshed kitchens and baths, new appliances, a copper water main installed from lead, and new hot water heater and furnace systems.
The parlor level features soaring ceiling heights, a sweeping flared staircase, and a light-filled living room, with an eat-in kitchen that opens to a private morning deck. The dining room includes vaulted ceilings, pocket doors, brass hardware, and original cabinetry. The upper floors emphasize privacy and flexibility, with two en-suite bedrooms on the third floor and the entire fourth floor dedicated to a bright primary suite with additional bonus rooms.
The garden rental is a three-bedroom, one-bathroom floor-through home with its own washer/dryer and dishwasher. Updates include refreshed kitchens and baths, new appliances, a copper water main installed from lead, and new hot water heater and furnace systems.
Key Highlights
- Four‑story two‑family on a 125‑foot‑deep lot with a 4‑bedroom owner's triplex over a 3‑bedroom garden‑level apartment
- 6,000 SF Renaissance Revival limestone residence built in 1897 (George P. Chappell); 1925 year built listed
- Garden apartment rental is 1,500 SF and includes its own washer/dryer and dishwasher
Financial Insights For Multifamily LT 5
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 | $306.0k | $51.00 |
| − Vacancy | −$5.8k | −$0.97 |
| EGI | $300.2k | $50.03 |
| − OpEx | −$90.1k | −$15.01 |
| NOI | $210.1k | $35.02 |
6,000 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$3.00M
$2.63M – $3.50M
NOI $210,130 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$2.62M
$2.29M – $3.05M
NOI $183,174 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Four-story two-family with a 4-bedroom owner's triplex over an income-generating 3-bedroom garden-level apartment.
Where is this duplex located?
The property is located at 866 PROSPECT Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Four‑story two‑family on a 125‑foot‑deep lot with a 4‑bedroom owner's triplex over a 3‑bedroom garden‑level apartment; 6,000 SF Renaissance Revival limestone residence built in 1897 (George P. Chappell); 1925 year built listed; Garden apartment rental is 1,500 SF and includes its own washer/dryer and dishwasher
