Multifamily Property Near
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1672 Dean Street, Brooklyn, NY 11213
R6-zoned multifamily property positioned near multiple subway lines and established Brooklyn neighborhood retail and cultural destinations.
Property Size6,496 SF
Price / SF$615.76
Days on Market41
Property Features for 1672 Dean Street
General Information
Standard status
Active
Size
6,496 SF
Property subtype
Multifamily
Zoning
R6
Net Operating Income
$208,526
Additional Details
Public Transit
Yes
Building Details
Units
8
Tenancy
Multi
Listing Agency:
Kassin Sabbagh Realty
Listed By:
Solomon Sharaby · License #10401283106
(718) 986-7149
Source:
Crexi
Added: Jul 25
Changed: Sep 1
Last Checked: Sep 1 at 3:21AM
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 Kassin Sabbagh Realty
Investment Insights
Based on property information with market context.
This multifamily property contains 6,496 square feet and is zoned R6. The asset is located at 1672 Dean Street in Brooklyn’s Crown Heights, between Schenectady and Utica Avenues.
Transit access includes the A, C, 3, and 4 subway lines, connecting the property with Downtown Brooklyn, Lower Manhattan, and Midtown. The surrounding area includes historic brownstones, residential streets, neighborhood retail, restaurants, and cafes. Prospect Park, the Brooklyn Children’s Museum, Brooklyn Botanic Garden, Brooklyn Museum, and Barclays Center are also identified nearby.
Transit access includes the A, C, 3, and 4 subway lines, connecting the property with Downtown Brooklyn, Lower Manhattan, and Midtown. The surrounding area includes historic brownstones, residential streets, neighborhood retail, restaurants, and cafes. Prospect Park, the Brooklyn Children’s Museum, Brooklyn Botanic Garden, Brooklyn Museum, and Barclays Center are also identified nearby.
Key Highlights
- 6,496‑square‑foot multifamily property
- R6 zoning
- 1672 Dean Street, Brooklyn, NY 11213
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
$198,316
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
4.96%
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%
$3,966,320
$4.0M
Cap Rate 7%
$2,833,086
$2.8M
Cap Rate 9%
$2,203,511
$2.2M
Market Conditions
NOI Build-Up for 6,496 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
$367.9K $56.64/SF
− Vacancy
−$7.4K −$1.13/SF
EGI
$360.6K $55.51/SF
− OpEx
−$162.3K −$24.98/SF
NOI
$198.3K $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%
$3,966,320
Cap Rate 7%
$2,833,086
Cap Rate 9%
$2,203,511
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.31M
NOI $198,316 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,508 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,446
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?
Multifamily property - R6-zoned multifamily property positioned near multiple subway lines and established Brooklyn neighborhood retail and cultural destinations.
Where is this multifamily property located?
The property is located at 1672 Dean Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 6,496‑square‑foot multifamily property; R6 zoning; 1672 Dean Street, Brooklyn, NY 11213
