Four-Story Two-Family
For Sale
$3,000,000
117 PRESIDENT St, Brooklyn, NY 11231
Owner’s triplex, separate two-bedroom apartment, renovated kitchen, and landscaped backyard support flexible residential income use.
Property Size3,440 SF
Lot Size0.05 Acres
Price / SF$872.09
Days on Market13
Property Features for 117 PRESIDENT St
General Information
Standard status
Active
Size
3,440 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,136
Building Details
Building Size
3,440 SF
Year Built
1899
Buildings
1
Stories
4
Units
3
Listed By:
Peter J Poljan
(718) 484-4776
Source:
Elliman
Added: Sep 10
Changed: Sep 21
Last Checked: Sep 21 at 7:14AM
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 Peter J Poljan
Investment Insights
Based on property information with market context.
This four-story, two-family townhouse at 117 President Street provides approximately 3,440 square feet with five bedrooms, three full bathrooms, and two powder rooms. The owner-occupied triplex spans the first three levels and includes hardwood flooring, a gas fireplace, first-floor split-system heating and cooling, and a renovated kitchen with a granite island, wood cabinetry, Thermador range, Fisher & Paykel double-drawer dishwasher, and Sharp microwave drawer. A dedicated laundry room adds storage and workspace.
The upper level contains a separate two-bedroom apartment, offering flexibility for rental income, guests, or extended family. Outdoor space includes a private landscaped backyard with a deck, gas fire pit, and gas barbecue. Basement storage includes a dedicated storage room, tool room, and utility area. Built in 1899, the property is near Brooklyn Bridge Park, Pier 6, the waterfront greenway, NYC Ferry service, and the Carroll Street F and G subway station. Walk Score is 89, Bike Score is 79, and Transit Score is 100.
The upper level contains a separate two-bedroom apartment, offering flexibility for rental income, guests, or extended family. Outdoor space includes a private landscaped backyard with a deck, gas fire pit, and gas barbecue. Basement storage includes a dedicated storage room, tool room, and utility area. Built in 1899, the property is near Brooklyn Bridge Park, Pier 6, the waterfront greenway, NYC Ferry service, and the Carroll Street F and G subway station. Walk Score is 89, Bike Score is 79, and Transit Score is 100.
Key Highlights
- Four‑story, two‑family townhouse with approximately 3,440 square feet
- Owner’s triplex spans the first three floors; separate two‑bedroom apartment occupies the top floor
- Renovated kitchen with Thermador range, Fisher & Paykel double‑drawer dishwasher, and granite island
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
$120,475
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
4.02%
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%
$2,409,500
$2.4M
Cap Rate 7%
$1,721,071
$1.7M
Cap Rate 9%
$1,338,611
$1.3M
Market Conditions
NOI Build-Up for 3,440 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
$175.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$172.1K $50.03/SF
− OpEx
−$51.6K −$15.01/SF
NOI
$120.5K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,409,500
Cap Rate 7%
$1,721,071
Cap Rate 9%
$1,338,611
Alternative Uses
Best Use
Multifamily LT 5
$1.72M
$1.51M – $2.01M
NOI $120,475 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $105,020 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$2.85M
$2.49M – $3.32M
NOI $199,382 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
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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 - Owner’s triplex, separate two-bedroom apartment, renovated kitchen, and landscaped backyard support flexible residential income use.
Where is this duplex located?
The property is located at 117 PRESIDENT St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Four‑story, two‑family townhouse with approximately 3,440 square feet; Owner’s triplex spans the first three floors; separate two‑bedroom apartment occupies the top floor; Renovated kitchen with Thermador range, Fisher & Paykel double‑drawer dishwasher, and granite island
