Seven-Unit Brownstone
For Sale
Contact for pricing
1545 Pacific Street, Brooklyn, NY 11213
Seven-unit, fully rent-stabilized brownstone on a 19.17-by-100-foot lot, with the ground floor unit delivered vacant.
Property Size3,450 SF
Lot Size0.04 Acres
Price / SF$550.72
Days on Market67
Property Features for 1545 Pacific Street
General Information
Standard status
Active
Size
3,450 SF
Lot size
0.04 Acres
Property subtype
Multifamily
Zoning
R6
Occupancy
86%
Investment Type
Value Add
Net Operating Income
$125,628
Additional Details
Multifamily Units
7
Building Details
Units
7
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Derek Bestreich · License #10991237362
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 20 at 8:23AM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
1545 Pacific Street is a seven-unit brownstone investment property built to approximately 19.17 by 45 feet on a 19.17 by 100-foot lot. The building is fully rent stabilized and is currently occupied. Several units pay preferential rents below legal regulated rents, and the ground floor unit will be delivered vacant.
The property is located in Brooklyn’s Crown Heights area between Kingston Avenue and Albany Avenue. It carries Tax Class 2B status and is situated in an R6 zoning district, as well as within the Crown Heights North III Historic District.
The existing residential income configuration and stabilized tenancy status make this a practical fit for buyers seeking a multifamily asset with continued occupancy and a near-term vacancy on the ground floor unit.
The property is located in Brooklyn’s Crown Heights area between Kingston Avenue and Albany Avenue. It carries Tax Class 2B status and is situated in an R6 zoning district, as well as within the Crown Heights North III Historic District.
The existing residential income configuration and stabilized tenancy status make this a practical fit for buyers seeking a multifamily asset with continued occupancy and a near-term vacancy on the ground floor unit.
Key Highlights
- Seven‑unit brownstone in Crown Heights, fully rent stabilized and currently occupied
- Lot size 19.17 ft x 100 ft; building footprint 19.17 ft x 45 ft
- Several units pay preferential rents below legal regulated rents, offering a potential path for future rent growth
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
$105,325
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
5.54%
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%
$2,106,500
$2.1M
Cap Rate 7%
$1,504,643
$1.5M
Cap Rate 9%
$1,170,278
$1.2M
Market Conditions
NOI Build-Up for 3,450 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
$195.4K $56.64/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$191.5K $55.51/SF
− OpEx
−$86.2K −$24.98/SF
NOI
$105.3K $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%
$2,106,500
Cap Rate 7%
$1,504,643
Cap Rate 9%
$1,170,278
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.32M – $1.76M
NOI $105,325 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.86M
$2.50M – $3.33M
NOI $199,962 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
5,599
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
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 - Seven-unit, fully rent-stabilized brownstone on a 19.17-by-100-foot lot, with the ground floor unit delivered vacant.
Where is this apartment building located?
The property is located at 1545 Pacific Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Seven‑unit brownstone in Crown Heights, fully rent stabilized and currently occupied; Lot size 19.17 ft x 100 ft; building footprint 19.17 ft x 45 ft; Several units pay preferential rents below legal regulated rents, offering a potential path for future rent growth
