Six-Unit Apartment
For Sale
$1,850,000
32 Sutton Street, Brooklyn, NY 11222
Occupied, rent-stabilized apartments feature railroad layouts, high ceilings, vintage molding, and large windows.
Property Size4,125 SF
Price / SF$448.48
Days on Market1606
Property Features for 32 Sutton Street
General Information
Standard status
Active
Size
4,125 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,705
Amenities
https://tour.giraffe360.com/f8d3e2b84eef4b918575524fd68123d7/
Square Feet, 25x100
Full, Unfinished
Apartment, Public, Refrigerator
Oven, Refrigerator
Refrigerator
18
No Common Walls
Square Feet
No
Block
Private, None
Building Details
Year Built
1939
Listing Agency:
Coldwell Banker American Homes
Listed By:
Bryan J Karp · License #10301220180
(631) 863-9800
Source:
Compass
Added: Apr 15, 2022
Changed: Sep 3
Last Checked: Sep 5 at 2:57PM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
This three-story walk-up contains six occupied, rent-stabilized apartments in a 4,125-square-foot building constructed in 1939. Each residence is arranged in a railroad-style layout with two bedrooms, one full bath, a large eat-in kitchen, high ceilings, vintage molding, and oversized windows. Two apartments have been recently updated. The property also includes seven electric meters, seven gas meters, and a full unfinished basement with two exterior entrances.
A large, flat backyard provides additional outdoor space. Building improvements include a recently repainted fire escape, a 2-year-old roof with hatch and skylight, and a 3-year-old double waste trap for the sewer system. The property is in Greenpoint, Brooklyn, near McCarren Park, McGorlick Park, the G train at Nassau Avenue Station, and the L train at Bedford Avenue.
A large, flat backyard provides additional outdoor space. Building improvements include a recently repainted fire escape, a 2-year-old roof with hatch and skylight, and a 3-year-old double waste trap for the sewer system. The property is in Greenpoint, Brooklyn, near McCarren Park, McGorlick Park, the G train at Nassau Avenue Station, and the L train at Bedford Avenue.
Key Highlights
- Six‑unit, 4,125‑square‑foot apartment building constructed in 1939
- All 6 apartments are occupied and rent stabilized
- Each unit offers 2 bedrooms, 1 full bath, and a large eat‑in kitchen
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
$125,932
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
6.81%
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%
$2,518,640
$2.5M
Cap Rate 7%
$1,799,029
$1.8M
Cap Rate 9%
$1,399,244
$1.4M
Market Conditions
NOI Build-Up for 4,125 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
$233.6K $56.64/SF
− Vacancy
−$4.7K −$1.13/SF
EGI
$229.0K $55.51/SF
− OpEx
−$103.0K −$24.98/SF
NOI
$125.9K $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%
$2,518,640
Cap Rate 7%
$1,799,029
Cap Rate 9%
$1,399,244
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,932 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.42M
$2.99M – $3.98M
NOI $239,085 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
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 - Occupied, rent-stabilized apartments feature railroad layouts, high ceilings, vintage molding, and large windows.
Where is this apartment building located?
The property is located at 32 Sutton Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Six‑unit, 4,125‑square‑foot apartment building constructed in 1939; All 6 apartments are occupied and rent stabilized; Each unit offers 2 bedrooms, 1 full bath, and a large eat‑in kitchen
