Two-Family
For Sale
$1,200,000
Pending
234 56th St, Brooklyn, NY 11220
Legal two-family configuration supports owner occupancy with rental income or a fully income-producing setup.
Property Size2,400 SF
Days on Market100
Property Features for 234 56th St
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,691
Building Details
Building Size
2,400 SF
Year Built
1901
Buildings
1
Stories
3
Units
2
Listed By:
Fouad E Rahme
(646) 207-6081
Source:
Elliman
Added: Jun 3
Changed: Sep 5
Last Checked: Sep 9 at 8:34AM
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 Fouad E Rahme
Investment Insights
Based on property information with market context.
This townhouse is arranged as a legal two-family residence with a multi-level layout. The configuration supports either an owner-occupied duplex with rental income or a fully income-producing arrangement. Constructed in 1901, the property offers adaptable residential space within a multifamily asset.
Located at 234 56th St in Sunset Park, Brooklyn, the home sits near shops, restaurants, parks, and public transportation. Industry City, the Brooklyn waterfront, and the 24-acre Sunset Park are nearby, while the surrounding transit network connects with Brooklyn and Manhattan. Walk Score 96, Transit Score 91, and Bike Score 81 reflect the area's pedestrian, transit, and cycling accessibility.
Located at 234 56th St in Sunset Park, Brooklyn, the home sits near shops, restaurants, parks, and public transportation. Industry City, the Brooklyn waterfront, and the 24-acre Sunset Park are nearby, while the surrounding transit network connects with Brooklyn and Manhattan. Walk Score 96, Transit Score 91, and Bike Score 81 reflect the area's pedestrian, transit, and cycling accessibility.
Key Highlights
- Legal two‑family residence with a multi‑level townhouse layout
- Owner’s duplex with rental income or fully income‑producing configuration
- Built in 1901
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
$71,459
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
5.95%
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%
$1,429,180
$1.4M
Cap Rate 7%
$1,020,843
$1.0M
Cap Rate 9%
$793,989
$794.0K
Market Conditions
NOI Build-Up for 2,400 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
$106.6K $44.40/SF
− Vacancy
−$4.5K −$1.86/SF
EGI
$102.1K $42.54/SF
− OpEx
−$30.6K −$12.76/SF
NOI
$71.5K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,429,180
Cap Rate 7%
$1,020,843
Cap Rate 9%
$793,989
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$893.2K – $1.19M
NOI $71,459 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$914.3K
$800.0K – $1.07M
NOI $64,000 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,910 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family configuration supports owner occupancy with rental income or a fully income-producing setup.
Where is this duplex located?
The property is located at 234 56th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Legal two‑family residence with a multi‑level townhouse layout; Owner’s duplex with rental income or fully income‑producing configuration; Built in 1901
