Two-Family
For Sale
Contact for pricing
1640 UNION ST, Brooklyn, NY 11213
As-is duplex townhouse requiring due diligence, with occupants in place and no interior access available.
Property Size2,100 SF
Price / SF$664.29
Days on Market179
Property Features for 1640 UNION ST
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Mixed Use
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
5 Boro Realty Corp
Listed By:
Nina Sabag · License #10311207532
(855) 305-3325
Source:
Crexi
Added: Mar 10
Changed: Aug 29
Last Checked: Sep 4 at 9:08AM
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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
This two-family townhouse contains approximately 2,100 square feet and is being offered in its existing condition. The property is occupied, interior access is unavailable, and the sale will be delivered with occupants in place. Buyers must rely on their own due diligence and are expected to purchase without an interior inspection.
The residence is located on Union Street in Brooklyn’s Crown Heights area, near restaurants, cafés, shopping, and public transportation. The offering is structured as a short sale and may suit experienced purchasers familiar with occupied residential properties and renovation requirements.
The residence is located on Union Street in Brooklyn’s Crown Heights area, near restaurants, cafés, shopping, and public transportation. The offering is structured as a short sale and may suit experienced purchasers familiar with occupied residential properties and renovation requirements.
Key Highlights
- Two‑family townhouse in Crown Heights
- Approximately 2,100 square feet
- Occupied by squatters; delivered with occupants in place
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
$73,546
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
5.27%
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%
$1,470,920
$1.5M
Cap Rate 7%
$1,050,657
$1.1M
Cap Rate 9%
$817,178
$817.2K
Market Conditions
NOI Build-Up for 2,100 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
$107.1K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.1K $50.03/SF
− OpEx
−$31.5K −$15.01/SF
NOI
$73.5K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,470,920
Cap Rate 7%
$1,050,657
Cap Rate 9%
$817,178
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$919.3K – $1.23M
NOI $73,546 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$915.9K
$801.4K – $1.07M
NOI $64,111 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,716 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,627
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?
Duplex - As-is duplex townhouse requiring due diligence, with occupants in place and no interior access available.
Where is this duplex located?
The property is located at 1640 UNION ST Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Two‑family townhouse in Crown Heights; Approximately 2,100 square feet; Occupied by squatters; delivered with occupants in place
