Queen Anne Four-Family Townhouse with
For Sale
$3,000,000
Pending
137 Decatur Street, Brooklyn, NY 11216
COMMERCIAL - Other - Brooklyn, NY
Property Size3,600 SF
Days on Market169
Property Features for 137 Decatur Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 5, Bathroom 2, Bathroom 6, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 6
Fireplace
1
Subdivision
Stuyvesant Heights
High school district
000000
Standard status
Pending
Size
3,600 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Perri Defino
Added: Mar 16
Changed: Aug 6
Last Checked: Aug 31 at 2:06PM
MLS# 11675223
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legal four-family, four-story Queen Anne townhouse is configured as a lower duplex plus cellar, with three rental units on the top two floors. The parlor floor is a loft-like open space with exposed beams and exposed brick painted white. Original subfloors are coated in white epoxy paint for light reflection, and the living area includes a working brick fireplace and two south-facing oversized windows. A bank of 16 curved custom bookshelves runs along the midsection, with a custom full bath across the space.
The kitchen spans the length of the western wall and includes all-white designer appliances, a vented hood, and a washer/dryer, plus a second working fireplace. Floor-to-ceiling glass opens to a deck and zen garden featuring a natural stone swimming pool. The lower duplex level is also bright and open, with exposed wood beams throughout, a full bath, and a walk-in closet, and it can function as a primary suite or a den/second bedroom arrangement. The finished cellar includes a whimsical half bath and a rare walk-out to the garden, adding true extra living space.
The three rental units are configured as a fourth-floor floor-through apartment and two units on the third floor, with white-washed interiors retaining original architectural details such as window moldings and a wood and tile mantle.
The kitchen spans the length of the western wall and includes all-white designer appliances, a vented hood, and a washer/dryer, plus a second working fireplace. Floor-to-ceiling glass opens to a deck and zen garden featuring a natural stone swimming pool. The lower duplex level is also bright and open, with exposed wood beams throughout, a full bath, and a walk-in closet, and it can function as a primary suite or a den/second bedroom arrangement. The finished cellar includes a whimsical half bath and a rare walk-out to the garden, adding true extra living space.
The three rental units are configured as a fourth-floor floor-through apartment and two units on the third floor, with white-washed interiors retaining original architectural details such as window moldings and a wood and tile mantle.
Key Highlights
- Legal four‑family, four‑story Queen Anne townhome configured as lower duplex plus cellar and three top‑floor rental units
- Parlor level features exposed beams, white‑painted exposed brick, and a working brick fireplace plus two south‑facing oversized windows
- Kitchen with designer appliances, vented hood, and washer/dryer, plus floor‑to‑ceiling glass opening to deck and zen garden
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
$126,078
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
4.20%
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%
$2,521,560
$2.5M
Cap Rate 7%
$1,801,114
$1.8M
Cap Rate 9%
$1,400,867
$1.4M
Market Conditions
NOI Build-Up for 3,600 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
$183.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$180.1K $50.03/SF
− OpEx
−$54.0K −$15.01/SF
NOI
$126.1K $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%
$2,521,560
Cap Rate 7%
$1,801,114
Cap Rate 9%
$1,400,867
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
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?
Quadplex - Legal four-family, four-story Queen Anne townhouse configured as a lower duplex plus cellar and three rental units on top floors.
Where is this quadplex located?
The property is located at 137 Decatur Street 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: Legal four‑family, four‑story Queen Anne townhome configured as lower duplex plus cellar and three top‑floor rental units; Parlor level features exposed beams, white‑painted exposed brick, and a working brick fireplace plus two south‑facing oversized windows; Kitchen with designer appliances, vented hood, and washer/dryer, plus floor‑to‑ceiling glass opening to deck and zen garden
