Residential Income Property with
1437 Hancock Street 2B, Brooklyn, NY 11237
For Sale
$725,000
A 2022 Brooklyn residence pairs a flexible study with a private outdoor terrace.
Property Size706 SF
Price / SF$1,026
Days on Market12
Property Features for 1437 Hancock Street 2B
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private terrace
in-unit washer and dryer
individual split HVAC systems
Fitness Center
Yoga Studio
Pickle-ball/Basketball Court
Dog Run
First Floor Outdoor Lounge
Roof Deck
Outdoor Kitchen and Grill
Library
Co-working Spaces
Private Conference Room
Parking Available for Rent by 3rd Party
Storage Units
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Kellyn GOUDIE
(315) 491-0661
Source:
Carlinwright
Added: Nov 4
Changed: Nov 11
Last Checked: Nov 14 at 2:59PM
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
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Investment Insights
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This 706-square-foot residence, completed in 2022, has an open living and dining area, a primary bedroom, and a separate study that can serve as a second bedroom or workspace. A private terrace adds outdoor space. The kitchen includes quartz counters and Blomberg stainless-steel appliances; the home also has split HVAC systems and an in-unit washer and dryer. Oversized double-pane windows provide northern and western exposures, and the bathroom has a tub and shower.
The property is on a tree-lined Brooklyn street near restaurants, grocers, cafes, bars, and the L subway line. Building amenities include a landscaped rooftop terrace with skyline views. Residents also have access to amenities in a neighboring building, including a fitness center, yoga studio, pickleball and basketball court, dog run, outdoor lounge, roof deck, outdoor kitchen and grill, library, coworking spaces, and a private conference room. Parking is available for rent through a third party, and storage units are offered.
The property is on a tree-lined Brooklyn street near restaurants, grocers, cafes, bars, and the L subway line. Building amenities include a landscaped rooftop terrace with skyline views. Residents also have access to amenities in a neighboring building, including a fitness center, yoga studio, pickleball and basketball court, dog run, outdoor lounge, roof deck, outdoor kitchen and grill, library, coworking spaces, and a private conference room. Parking is available for rent through a third party, and storage units are offered.
Key Highlights
- 706‑square‑foot residence completed in 2022
- Private terrace and separate study with flexible use
- Open living and dining area with northern and western exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,553
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,060
$431.1K
Cap Rate 7%
$307,900
$307.9K
Cap Rate 9%
$239,478
$239.5K
Market Conditions
NOI Build-Up for 706 SF
Gross rent
$40.0K $56.64/SF
− Vacancy
−$800 −$1.13/SF
EGI
$39.2K $55.51/SF
− OpEx
−$17.6K −$24.98/SF
NOI
$21.6K $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%
$431,060
Cap Rate 7%
$307,900
Cap Rate 9%
$239,478
Alternative Uses
Best Use
Apartment 5plus
$307.9K
$269.4K – $359.2K
NOI $21,553 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$584.6K
$511.5K – $682.0K
NOI $40,920 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,258
Businesses Nearby
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Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Brooklyn, NY
Properties on Market for Residential income properties in Brooklyn
Frequently Asked Questions
What type of property is this?
Residential income property - A 2022 Brooklyn residence pairs a flexible study with a private outdoor terrace.
Where is this residential income property located?
The property is located at 1437 Hancock Street 2B Brooklyn, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 706‑square‑foot residence completed in 2022; Private terrace and separate study with flexible use; Open living and dining area with northern and western exposures
