New Construction
For Sale
$1,400,000
166 Bay 53rd Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size2,700 SF
Lot Size0.07 Acres
Price / SF$518.52
Days on Market65
Property Features for 166 Bay 53rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 4
Parking features
Garage
Interior features
Stove
Subdivision
Coney Island
Standard status
Active
Size
2,700 SF
Lot size
0.07 Acres
Amenities
ductless A/C
engineered vinyl flooring
bay windows
balcony
backyard
Building Details
Year built
2022
Floors in Building
2
Number of units
2
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang
(917) 708-9966
Added: Jun 24
Changed: Aug 27
Last Checked: Aug 27 at 11:06PM
MLS# 502558
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 2022, this 2,700-square-foot brick duplex includes two separate apartments within a three-story residence. The first-floor home offers two bedrooms, a full bathroom, a modern kitchen, living room, and private balcony. The second-floor unit also has two bedrooms, with a larger living room, kitchen, one full bathroom, a half bathroom, and its own balcony. An elevator serves the ground level through the first floor.
The lower level combines a two-car built-in garage with an open finished area, tiled flooring, and rear access to the private backyard. Additional features include three separate electric meters, ductless air conditioning, engineered vinyl flooring, bay windows, and a flat roof. The property occupies a 30 × 100-foot lot, with a 20 × 50-foot building footprint, and is zoned R4.
Located at 166 Bay 53rd Street in Brooklyn, the property is near Six Diamonds Park, bus stops, shopping, banks, restaurants, beaches, and major highways.
The lower level combines a two-car built-in garage with an open finished area, tiled flooring, and rear access to the private backyard. Additional features include three separate electric meters, ductless air conditioning, engineered vinyl flooring, bay windows, and a flat roof. The property occupies a 30 × 100-foot lot, with a 20 × 50-foot building footprint, and is zoned R4.
Located at 166 Bay 53rd Street in Brooklyn, the property is near Six Diamonds Park, bus stops, shopping, banks, restaurants, beaches, and major highways.
Key Highlights
- 2022‑built, 2,700‑square‑foot brick duplex
- Two apartments, each with 2 bedrooms and private balconies
- Three‑story residence with elevator access from the ground level to the first floor
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
$73,642
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
5.26%
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%
$1,472,840
$1.5M
Cap Rate 7%
$1,052,029
$1.1M
Cap Rate 9%
$818,244
$818.2K
Market Conditions
NOI Build-Up for 2,700 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
$110.2K $40.80/SF
− Vacancy
−$5.0K −$1.84/SF
EGI
$105.2K $38.96/SF
− OpEx
−$31.6K −$11.69/SF
NOI
$73.6K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,472,840
Cap Rate 7%
$1,052,029
Cap Rate 9%
$818,244
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$920.5K – $1.23M
NOI $73,642 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,253 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - Two-unit brick residence with elevator access, private balconies, a backyard, and a two-car garage.
Where is this duplex located?
The property is located at 166 Bay 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2022‑built, 2,700‑square‑foot brick duplex; Two apartments, each with 2 bedrooms and private balconies; Three‑story residence with elevator access from the ground level to the first floor
