Six-Unit Apartment Building with
For Sale
$1,000,000
170 E 96TH Street, Brooklyn, NY 11212
Six-unit apartment building with leases, garage, and unfinished basement.
Property Size1,677 SF
Price / SF$596.30
Days on Market182
Property Features for 170 E 96TH Street
General Information
Standard status
Active
Size
1,677 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$19,104
Building Details
Building Size
1,677 SF
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Tracie S Hamersley · License #BK3130268
(917) 647-0056
Source:
Penrealty
Added: Mar 11
Changed: Sep 5
Last Checked: Sep 7 at 6:13AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This is a six-family stone apartment building with a garage and a full unfinished basement. The building includes one unit with 1 bedroom and 1 bath, and five units with 2 bedrooms and 1 bath. All units are currently occupied with leases. The property is being sold as is, with tenants in place in three apartments. Three units will be delivered vacant. The building size is 21.5x78 feet.
Key Highlights
- Six‑family apartment building providing a diversified income stream.
- Three 2‑bedroom units delivered vacant, offering immediate rental income potential or owner‑occupancy.
- Five units feature a desirable 2‑bedroom, 1‑bath layout.
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
$51,197
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
5.12%
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%
$1,023,940
$1.0M
Cap Rate 7%
$731,386
$731.4K
Cap Rate 9%
$568,856
$568.9K
Market Conditions
NOI Build-Up for 1,677 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
$95.0K $56.64/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$93.1K $55.51/SF
− OpEx
−$41.9K −$24.98/SF
NOI
$51.2K $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%
$1,023,940
Cap Rate 7%
$731,386
Cap Rate 9%
$568,856
Alternative Uses
Best Use
Apartment 5plus
$731.4K
$640.0K – $853.3K
NOI $51,197 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.39M
$1.21M – $1.62M
NOI $97,199 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,133
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
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?
Apartment building - Six-unit apartment building with leases, garage, and unfinished basement.
Where is this apartment building located?
The property is located at 170 E 96TH Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Six‑family apartment building providing a diversified income stream.; Three 2‑bedroom units delivered vacant, offering immediate rental income potential or owner‑occupancy.; Five units feature a desirable 2‑bedroom, 1‑bath layout.
