Brick 4-Unit
For Sale
$1,850,000
1673 66TH Street, Brooklyn, NY 11204
Four units provide flexibility for rental use or combination into a single residence.
Property Size1,760 SF
Price / SF$1,051
Days on Market98
Property Features for 1673 66TH Street
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$14,712
Building Details
Building Size
1,760 SF
Year Built
1931
Buildings
1
Construction
brick facade
Tenancy
Multi
Listing Agency:
Barnes New York
(305) 613-8580
Listed By:
Adrien Gouirand
(305) 613-8580
Source:
Howardhannanyc
Added: May 8
Changed: Aug 2
Last Checked: Aug 12 at 3:20PM
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 Barnes New York
Investment Insights
Based on property information with market context.
Built in 1931, this 1,760-square-foot brick quadplex contains four residential units and offers a flexible configuration for multifamily ownership or conversion into one larger residence. Multiple windows bring natural light throughout the building, while sidewalk frontage and available on-street parking support everyday access. The property’s established construction and four-unit layout provide a clear foundation for continued residential use or customization.
The building is located near neighborhood shops, restaurants, parks, cultural institutions, bus routes, and subway service. Access to the D, N, and W lines connects the property with Manhattan, other Brooklyn destinations, and Coney Island. The Verrazzano Bridge is also nearby, extending regional access.
The building is located near neighborhood shops, restaurants, parks, cultural institutions, bus routes, and subway service. Access to the D, N, and W lines connects the property with Manhattan, other Brooklyn destinations, and Coney Island. The Verrazzano Bridge is also nearby, extending regional access.
Key Highlights
- Four‑unit residential building with flexible multifamily configuration
- 1,760 square feet with brick construction
- Built in 1931
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
$61,638
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
3.33%
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%
$1,232,760
$1.2M
Cap Rate 7%
$880,543
$880.5K
Cap Rate 9%
$684,867
$684.9K
Market Conditions
NOI Build-Up for 1,760 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
$89.8K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$88.1K $50.03/SF
− OpEx
−$26.4K −$15.01/SF
NOI
$61.6K $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%
$1,232,760
Cap Rate 7%
$880,543
Cap Rate 9%
$684,867
Alternative Uses
Best Use
Multifamily LT 5
$880.5K
$770.5K – $1.03M
NOI $61,638 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$767.6K
$671.6K – $895.5K
NOI $53,731 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,010 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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?
Quadplex - Four units provide flexibility for rental use or combination into a single residence.
Where is this quadplex located?
The property is located at 1673 66TH Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Four‑unit residential building with flexible multifamily configuration; 1,760 square feet with brick construction; Built in 1931
