Renovated 8-Unit Limestone
For Sale
$5,350,000
14 Lincoln Pl multi-family, Brooklyn, NY 11217
Fully renovated 8-unit limestone multifamily building with four floors plus a full basement.
Property Size8,960 SF
Lot Size0.06 Acres
Price / SF$597.10
Days on Market62
Property Features for 14 Lincoln Pl multi-family
General Information
Standard status
Active
Size
8,960 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Zoning
R6B
Additional Details
Cap Rate
6%
Multifamily Units
8
Building Details
Building Size
8,960 SF
Year Built
1920
Stories
4
Units
8
Tenancy
Multi
Listing Agency:
(917) 520-2197
Listed By:
Maksim Voropaev
(917) 520-2197
Source:
Elliman
Added: Jun 14
Changed: Aug 8
Last Checked: Aug 13 at 11:08AM
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 Maksim Voropaev
Investment Insights
Based on property information with market context.
14 Lincoln Place is a fully renovated 8-unit limestone multifamily property with a bow-front façade. The building is configured across four floors plus a full basement, and was built in 1920. The offering is set on a 28-foot-wide lot and includes five residential units with different rent structures, consisting of eight oversized two-bedroom apartments.
The unit mix features four free-market 2BR/2BA apartments with in-unit washer/dryers and stainless appliances, plus three rent-stabilized 2BR/1BA apartments and one rent-controlled 2BR/1BA apartment. Reported finishes include Caesarstone counters and custom millwork.
The property is located on a tree-lined block in Park Slope, between Fifth and Sixth Avenues. The listing notes R6B zoning and identifies the building as Class C1, with a tax class of 2B. A full offering memorandum with financials, rent roll, and comps is available upon request.
The unit mix features four free-market 2BR/2BA apartments with in-unit washer/dryers and stainless appliances, plus three rent-stabilized 2BR/1BA apartments and one rent-controlled 2BR/1BA apartment. Reported finishes include Caesarstone counters and custom millwork.
The property is located on a tree-lined block in Park Slope, between Fifth and Sixth Avenues. The listing notes R6B zoning and identifies the building as Class C1, with a tax class of 2B. A full offering memorandum with financials, rent roll, and comps is available upon request.
Key Highlights
- Fully renovated 8‑unit limestone multifamily built in 1920 with 4 floors plus a full basement
- Bow‑front building on a 28 ft × 100 ft lot (2,800 SF) with 8,960 SF total building area
- Unit mix: eight oversized 2‑bedrooms (4 free‑market 2BR/2BA, 3 rent‑stabilized 2BR/1BA, 1 rent‑controlled 2BR/1BA)
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
$273,539
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
5.11%
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%
$5,470,780
$5.5M
Cap Rate 7%
$3,907,700
$3.9M
Cap Rate 9%
$3,039,322
$3.0M
Market Conditions
NOI Build-Up for 8,960 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
$507.5K $56.64/SF
− Vacancy
−$10.1K −$1.13/SF
EGI
$497.3K $55.51/SF
− OpEx
−$223.8K −$24.98/SF
NOI
$273.5K $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 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%
$5,470,780
Cap Rate 7%
$3,907,700
Cap Rate 9%
$3,039,322
Alternative Uses
Best Use
Apartment 5plus
$3.91M
$3.42M – $4.56M
NOI $273,539 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.42M
$6.49M – $8.66M
NOI $519,322 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,855
Businesses Nearby
Explore this area
Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
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?
Apartment building - Fully renovated 8-unit limestone multifamily building with four floors plus a full basement.
Where is this apartment building located?
The property is located at 14 Lincoln Pl multi-family Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,350,000.
What are key features of this property?
This property features: Fully renovated 8‑unit limestone multifamily built in 1920 with 4 floors plus a full basement; Bow‑front building on a 28 ft × 100 ft lot (2,800 SF) with 8,960 SF total building area; Unit mix: eight oversized 2‑bedrooms (4 free‑market 2BR/2BA, 3 rent‑stabilized 2BR/1BA, 1 rent‑controlled 2BR/1BA)
