8-Unit Apartment
New
For Sale
$3,900,000
163 Veronica Place, Brooklyn, NY 11226
Residential, Brooklyn, NY
Property Size6,350 SF
Lot Size0.06 Acres
Price / SF$614.17
Days on Market2
Property Features for 163 Veronica Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 7, Bathroom 1, Bathroom 8, Bathroom 3, Bathroom 6
Interior features
A/C Unit, A/C Unit - Wall
Basement
Unfinished
Subdivision
Flatbush
Standard status
Active
Size
6,350 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5598
Building Details
Year built
2013
Floors in Building
4
Flooring type
Ceramic, Hardwood
Building materials
Masonry
Roof type
Flat, Asphalt
Listing Agency:
Suits Realty LLC
(646) 714-9366
Listed By:
Sheraz Ali
(646) 492-0915
Added: Oct 1
Last Checked: Oct 2 at 12:06AM
MLS# 505003
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2013, this four-story apartment property contains eight rent-stabilized units across 6,350 square feet. Features include masonry construction, a flat asphalt roof, ceramic and hardwood flooring, and wall-unit air conditioning. The property is fully occupied, and tenants pay their own heat, hot water, gas, and electricity. The parcel measures 0.0575 acres and is zoned R6. A 421-a tax abatement is scheduled to expire in 2030.
The building is at 163 Veronica Place in Brooklyn’s Flatbush area, between Tilden Avenue and Beverley Road. The 2/5 train is accessible at Church Avenue and Beverley Road. Prospect Park is about 10 minutes away and encompasses 526 acres.
The building is at 163 Veronica Place in Brooklyn’s Flatbush area, between Tilden Avenue and Beverley Road. The 2/5 train is accessible at Church Avenue and Beverley Road. Prospect Park is about 10 minutes away and encompasses 526 acres.
Key Highlights
- Eight rent‑stabilized apartments in a four‑story building
- 6,350 square feet on a 0.0575‑acre parcel
- Built in 2013; masonry construction
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
$148,864
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
3.82%
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%
$2,977,280
$3.0M
Cap Rate 7%
$2,126,629
$2.1M
Cap Rate 9%
$1,654,044
$1.7M
Market Conditions
NOI Build-Up for 6,350 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
$281.9K $44.40/SF
− Vacancy
−$11.3K −$1.78/SF
EGI
$270.7K $42.62/SF
− OpEx
−$121.8K −$19.18/SF
NOI
$148.9K $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /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%
$2,977,280
Cap Rate 7%
$2,126,629
Cap Rate 9%
$1,654,044
Alternative Uses
Best Use
Apartment 5plus
$2.13M
$1.86M – $2.48M
NOI $148,864 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.14M
$2.75M – $3.66M
NOI $219,700 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four-story masonry property with rent-stabilized apartments and wall-mounted air conditioning.
Where is this apartment building located?
The property is located at 163 Veronica Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Eight rent‑stabilized apartments in a four‑story building; 6,350 square feet on a 0.0575‑acre parcel; Built in 2013; masonry construction
