Residential Income Property with
For Sale
$529,000
1462 FLATBUSH Avenue 3E, Brooklyn, NY 11210
A newly built condominium residence with modern finishes and access to extensive shared amenities.
Property Size591 SF
Price / SF$895.09
Days on Market145
Property Features for 1462 FLATBUSH Avenue 3E
General Information
Standard status
Active
Size
591 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
furnished lobby
package room
resident lounge
landscaped garden
ping pong table
dog run
roof deck
fitness center
bike storage
resident storage
in-unit washer/dryer
video intercom
zoned heating and cooling
private balcony/terrace
Building Details
Building Size
591 SF
Year Built
2023
Listing Agency:
Corcoran Group
Listed By:
Joseph Czyzewski · License #10401383690
(646) 296-7199
Source:
Howardhannanyc
Added: Apr 16
Changed: Aug 31
Last Checked: Sep 7 at 6:06AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Residence 3E is part of The Avanti, a 45-unit condominium completed in 2023 at 1462 Flatbush Avenue in Brooklyn. The home measures 591 square feet and includes a private balcony, double-pane Pella windows and doors, wide-plank walnut-toned flooring, and zoned heating and cooling. The kitchen is appointed with white quartz counters, custom cabinetry, a stainless-steel appliance package, and a built-in island in layouts where provided. The bathroom includes a deep soaking tub, rain shower, glass splash wall, and integrated storage.
Building amenities include a furnished lobby with package room, resident lounge, landscaped garden with dining and seating areas, dog run, open roof deck with Brooklyn and Manhattan views, fitness center, bike storage, resident storage, elevator, and video intercom access. The residence also includes an in-unit combination washer and dryer. The property is located at 1462 Flatbush Avenue, Brooklyn, NY 11210.
Building amenities include a furnished lobby with package room, resident lounge, landscaped garden with dining and seating areas, dog run, open roof deck with Brooklyn and Manhattan views, fitness center, bike storage, resident storage, elevator, and video intercom access. The residence also includes an in-unit combination washer and dryer. The property is located at 1462 Flatbush Avenue, Brooklyn, NY 11210.
Key Highlights
- 591‑square‑foot condominium residence in a 45‑unit building
- Completed in 2023 at 1462 Flatbush Avenue, Brooklyn, NY 11210
- Private balcony and double‑pane Pella windows and doors
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
$18,043
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
3.41%
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%
$360,860
$360.9K
Cap Rate 7%
$257,757
$257.8K
Cap Rate 9%
$200,478
$200.5K
Market Conditions
NOI Build-Up for 591 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
$33.5K $56.64/SF
− Vacancy
−$669 −$1.13/SF
EGI
$32.8K $55.51/SF
− OpEx
−$14.8K −$24.98/SF
NOI
$18.0K $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%
$360,860
Cap Rate 7%
$257,757
Cap Rate 9%
$200,478
Alternative Uses
Best Use
Apartment 5plus
$257.8K
$225.5K – $300.7K
NOI $18,043 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$489.3K
$428.2K – $570.9K
NOI $34,254 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
11,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A newly built condominium residence with modern finishes and access to extensive shared amenities.
Where is this residential income property located?
The property is located at 1462 FLATBUSH Avenue 3E Brooklyn, NY.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 591‑square‑foot condominium residence in a 45‑unit building; Completed in 2023 at 1462 Flatbush Avenue, Brooklyn, NY 11210; Private balcony and double‑pane Pella windows and doors
