Brooklyn Heights Multifamily
For Sale
$4,700,000
Pending
138 JORALEMON St, Brooklyn, NY 11201
Historic multifamily brownstone in prime Brooklyn Heights location.
Property Size6,250 SF
Lot Size0.03 Acres
Days on Market334
Property Features for 138 JORALEMON St
General Information
Standard status
Pending
Size
6,250 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$130,896
Building Details
Building Size
6,250 SF
Year Built
1900
Units
11
Listing Agency:
Brown Harris Stevens Brooklyn LLC
Listed By:
Peter Richard Grazioli
(718) 613-2015
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 25
Last Checked: Oct 26 at 4:00PM
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 Brown Harris Stevens Brooklyn LLC
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Investment Insights
Based on property information with market context.
The property at 138 Joralemon Street is a multifamily brownstone with dimensions of 25 x 52 feet, offering over 6,200 square feet of living space on a 25 x 100 foot lot. Configured with 11 units, the ground floor features a two-bedroom owner's unit with laundry facilities and private yard access. The upper floors comprise four studio apartments and six one-bedroom units, all maintained in good condition. The building retains many original details, including marble fireplace mantels, detailed moldings, and hardwood floors. Mechanical systems are up to date and well-maintained. Located in the Brooklyn Heights area, the property benefits from proximity to transportation, Manhattan, dining, and cultural centers. The building is currently configured with 11 units and the ground floor is used as an owner unit with two-bedrooms, with laundry and private access to the yard. The upper floors have 4 Studio and 6 one-bedroom units.
Key Highlights
- Located in highly desirable, historic Brooklyn Heights with easy access to transportation, Manhattan, dining, and cultural centers.
- Substantial 6,200+ sq ft multi‑family brownstone on a 25 x 100 ft lot.
- Currently configured as 11 units (4 studios, 6 one‑bedrooms, and an owner's two‑bedroom unit).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,806
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,816,120
$3.8M
Cap Rate 7%
$2,725,800
$2.7M
Cap Rate 9%
$2,120,067
$2.1M
Market Conditions
NOI Build-Up for 6,250 SF
Gross rent
$354.0K $56.64/SF
− Vacancy
−$7.1K −$1.13/SF
EGI
$346.9K $55.51/SF
− OpEx
−$156.1K −$24.98/SF
NOI
$190.8K $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 Rate 5%
$3,816,120
Cap Rate 7%
$2,725,800
Cap Rate 9%
$2,120,067
Alternative Uses
Best Use
Apartment 5plus
$2.73M
$2.39M – $3.18M
NOI $190,806 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.17M
$4.53M – $6.04M
NOI $362,250 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
11,642
Businesses Nearby
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Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
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
Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily brownstone in prime Brooklyn Heights location.
Where is this apartment building located?
The property is located at 138 JORALEMON St Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Located in highly desirable, historic Brooklyn Heights with easy access to transportation, Manhattan, dining, and cultural centers.; Substantial 6,200+ sq ft multi‑family brownstone on a 25 x 100 ft lot.; Currently configured as 11 units (4 studios, 6 one‑bedrooms, and an owner's two‑bedroom unit).
