Free-Market Multifamily
New
For Sale
$1,995,000
579 Decatur Street, Brooklyn, NY 11233
Residential income property in Brooklyn’s 11233 ZIP code with free-market positioning.
Property Size4,712 SF
Days on Market6
Property Features for 579 Decatur Street
General Information
Standard status
Active
Size
4,712 SF
Property subtype
Multifamily
Additional Details
Cap Rate
6.3%
Amenities
579 Decatur Street is a restored 19th-century brownstone townhouse offering three free-market, two-bedroom residences in Stuyvesant Heights, Brooklyn.
Tax Class: 1 | Zoning: R6B | 100% Free Market
The property's central location places it within a short commute of Downtown Brooklyn, Williamsburg, Long Island City, and Manhattan with connectivity to the J, L, A or C Subway lines.
Building Details
Building Size
4,712 SF
Units
3
Tenancy
Multi
Listing Agency:
New York City Office
Listed By:
Shaun Riney · License #License(s): NY: 10491208207, NY: 10301215754
(718) 475-4369
Source:
Marcusmillichap
Added: Aug 28
Changed: Aug 30
Last Checked: Sep 1 at 2:49PM
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 New York City Office
Investment Insights
Based on property information with market context.
This multifamily property at 579 Decatur Street is a fully free-market residential asset in Brooklyn, New York. The property is offered for sale and carries the 11233 ZIP code.
Key Highlights
- Fully free‑market multifamily property
- 579 Decatur Street, Brooklyn, NY 11233
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
$143,852
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
7.21%
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%
$2,877,040
$2.9M
Cap Rate 7%
$2,055,029
$2.1M
Cap Rate 9%
$1,598,356
$1.6M
Market Conditions
NOI Build-Up for 4,712 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
$266.9K $56.64/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$261.5K $55.51/SF
− OpEx
−$117.7K −$24.98/SF
NOI
$143.9K $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%
$2,877,040
Cap Rate 7%
$2,055,029
Cap Rate 9%
$1,598,356
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $143,852 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.90M
$3.41M – $4.55M
NOI $273,108 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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?
Multifamily property - Residential income property in Brooklyn’s 11233 ZIP code with free-market positioning.
Where is this multifamily property located?
The property is located at 579 Decatur Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Fully free‑market multifamily property; 579 Decatur Street, Brooklyn, NY 11233
