Renovated Duplex with Private
For Sale
$2,895,000
138 Madison St, Brooklyn, NY 11216
Two-family townhouse with a separate apartment, finished cellar, smart-home systems, and flexible indoor-outdoor space.
Property Size3,021 SF
Price / SF$1,084
Days on Market58
Property Features for 138 Madison St
General Information
Standard status
Active
Size
3,021 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,187
Amenities
private deck
landscaped backyard
finished basement recreation level
spa-inspired bathroom
central multi-zone HVAC
Sonos audio
smart home integration
full-sized LG washer and dryer
Ring video intercom
integrated security features
Building Details
Building Size
3,021 SF
Year Built
1905
Year Renovated
2017
Stories
5
Units
1
Construction
brownstone
Listing Agency:
Compass
Listed By:
Tali Berzak · License #10301209148
(917) 246-8581
Source:
Elliman
Added: Sep 10
Changed: Oct 29
Last Checked: Nov 4 at 1:13PM
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 Compass
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated two-family townhouse combines a primary residence with a separate garden-level apartment. The main home spans five floors and includes open living and dining areas, an eat-in kitchen with Thermador appliances and custom cabinetry, three bedrooms, two and a half bathrooms, and a finished cellar recreation level. The full-floor primary suite includes a dressing area, walk-in closet, and spa-inspired bathroom. A private deck opens to a landscaped south-facing garden with several areas for dining, entertaining, gardening, or relaxation.
The one-bedroom, one-bathroom garden apartment has a fully equipped kitchen, dishwasher, and air conditioning. It can serve as an income-producing unit, in-law suite, or private office. Additional features include central multi-zone HVAC, separate boilers, Sonos audio, smart-home integration, LG washer and dryer, pre-wired internet and media systems, Ring video intercom, and integrated security. Located at 138 Madison Street near Herbert Von King Park and the YMCA, the property is served by the A/C, G, and Shuttle trains and the B26 bus line.
The one-bedroom, one-bathroom garden apartment has a fully equipped kitchen, dishwasher, and air conditioning. It can serve as an income-producing unit, in-law suite, or private office. Additional features include central multi-zone HVAC, separate boilers, Sonos audio, smart-home integration, LG washer and dryer, pre-wired internet and media systems, Ring video intercom, and integrated security. Located at 138 Madison Street near Herbert Von King Park and the YMCA, the property is served by the A/C, G, and Shuttle trains and the B26 bus line.
Key Highlights
- Approximately 2,670 square feet configured as a two‑family townhouse
- Gut renovated in 2017 with five floors and a finished cellar level
- One‑bedroom, one‑bathroom garden apartment with kitchen, dishwasher, and air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,508
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,870,160
$1.9M
Cap Rate 7%
$1,335,829
$1.3M
Cap Rate 9%
$1,038,978
$1.0M
Market Conditions
NOI Build-Up for 2,670 SF
Gross rent
$136.2K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$133.6K $50.03/SF
− OpEx
−$40.1K −$15.01/SF
NOI
$93.5K $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 Rate 5%
$1,870,160
Cap Rate 7%
$1,335,829
Cap Rate 9%
$1,038,978
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,508 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,512 @ 7.0% cap · market cap 2.82%
Theoretical Best
Specialty Retail
$2.21M
$1.93M – $2.58M
NOI $154,753 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,167
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family townhouse with a separate apartment, finished cellar, smart-home systems, and flexible indoor-outdoor space.
Where is this duplex located?
The property is located at 138 Madison St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: Approximately 2,670 square feet configured as a two‑family townhouse; Gut renovated in 2017 with five floors and a finished cellar level; One‑bedroom, one‑bathroom garden apartment with kitchen, dishwasher, and air conditioning
