Newly Renovated Six-Unit
1299 PUTNAM Ave Brooklyn, NY 11221
For Sale
$3,200,000
Renovated six-unit multifamily building with a new Certificate of Occupancy issued in 2020.
Property Size5,000 SF
Price / SF$640
Days on Market24
Property Features for 1299 PUTNAM Ave
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1903
Listing Agency:
(212) 206-2801
Listed By:
Noam Gottlieb · License #10301213890
(212) 206-2801
Source:
Elliman
Added: Jul 4
Changed: Jul 21
Last Checked: Jul 26 at 7:08AM
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 Noam Gottlieb
Investment Insights
Based on property information with market context.
1299 Putnam Avenue is a newly renovated six-unit multifamily property in Brooklyn. The building underwent substantial rehabilitation beginning in 2018, and a new Certificate of Occupancy was received in 2020. The property is described as measuring approximately 25 by 65 feet and includes roughly 5,000 square feet total.
The listing notes strong in-place income, along with projected performance figures provided by the seller. BikeScore is listed at 70 (Very Bikeable), WalkScore at 82 (Very Walkable), and TransitScore at 84 (Excellent Transit).
This asset is offered for sale with an associated projected NOI of approximately $192,000 and an indicated 6% capitalization rate, based on information included in the remarks.
The listing notes strong in-place income, along with projected performance figures provided by the seller. BikeScore is listed at 70 (Very Bikeable), WalkScore at 82 (Very Walkable), and TransitScore at 84 (Excellent Transit).
This asset is offered for sale with an associated projected NOI of approximately $192,000 and an indicated 6% capitalization rate, based on information included in the remarks.
Key Highlights
- Renovated six‑unit multifamily building (built in 1903) with a new Certificate of Occupancy received in 2020
- Approximately 5,000 SF building size (25 by 65 ft) after substantial rehabilitation beginning in 2018
- Projected NOI of approximately $192,000
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 | $283.2k | $56.64 |
| − Vacancy | −$5.7k | −$1.13 |
| EGI | $277.5k | $55.51 |
| − OpEx | −$124.9k | −$24.98 |
| NOI | $152.6k | $30.53 |
5,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,645 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,800 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Renovated six-unit multifamily building with a new Certificate of Occupancy issued in 2020.
Where is this apartment building located?
The property is located at 1299 PUTNAM Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Renovated six‑unit multifamily building (built in 1903) with a new Certificate of Occupancy received in 2020; Approximately 5,000 SF building size (25 by 65 ft) after substantial rehabilitation beginning in 2018; Projected NOI of approximately $192,000
