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    Midwood Multifamily Elevator Building Title is generated by Realmo AI

    1730 Ocean Ave, Brooklyn, NY 11230

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    Seven-story multifamily property with 34 apartments in Brooklyn's Midwood.

    Type:Multifamily
    Property size:
    27,781 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $521/SF
    Added:
    Mar 5, 2026
    Days on Market:
    93
    Last Refresh:
    Mar 16 at 2:51 pm

    Property Features for 1730 Ocean Ave

    General Information

    Standard status
    Active
    Size
    27,781 SF
    Lot size
    0.17 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Dylan Walsh

    Listing agent Dylan Walsh License #10401384207

    Listing office Cushman & Wakefield New York

    Listing date Mar 5, 2026

    Source Crexi

    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 Cushman & Wakefield New York

    HighLights

    • Substantial 421a tax abatement in place through 2058, resulting in significantly reduced annual property taxes.
    • Mix of 15 free market and 19 rent stabilized units provides immediate cash flow and long‑term revenue growth potential.
    • Modern, 7‑story elevator multifamily property built in 2022.
    • Located in Midwood, a stable Brooklyn rental market with strong demand and neighborhood amenities.
    • Excellent transit access, including proximity to the Q subway line and bus service to Manhattan.
    • Opportunity for full free‑market conversion after the 421a abatement expires, driving long‑term revenue upside.

    Overview

    Located in the Midwood neighborhood of Brooklyn, 1730 Ocean Avenue is a seven-story elevator multifamily property available for sale. The building comprises 34 apartments, totaling approximately 27,781 gross square feet, situated on a 7,575 square foot lot. The unit mix includes 23 two-bedroom units and 11 studio units. Currently, the property operates with a mix of 15 free market units and 19 rent stabilized units. The average in-place net effective rent is approximately $51 per square foot. A 421a tax abatement is in place through 2058, resulting in annual property taxes of approximately $6,674. The 421a program provides a path to full free-market conversion following the abatement's expiration. The property is located along a residential corridor, surrounded by dense housing and neighborhood retail. It benefits from transit access, including proximity to the Q subway line at Avenue M and bus service along Ocean Avenue, with the B49 and BM3 express routes providing service to Manhattan. This property offers an opportunity to acquire a modern, elevator multifamily property in a supply-constrained Brooklyn neighborhood, featuring tax treatment and upside potential through continued leasing and operational optimization.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $1.57M $56.64
    − Vacancy −$31.5k −$1.13
    EGI $1.54M $55.51
    − OpEx −$693.9k −$24.98
    NOI $848.1k $30.53
    27,781 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $12.12M
    $10.60M – $14.14M (±1% cap)
    NOI $848,125 @ 7.0% cap · market cap 5.85%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $23.00M
    $20.13M – $26.84M (±1% cap)
    NOI $1,610,187 @ 7.0% cap · market cap 11.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gentle Dental Dental Office

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.955307
    Latitude
    40.619609

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    FAQs

    What type of property is this?
    Apartment building - Seven-story multifamily property with 34 apartments in Brooklyn's Midwood.
    Where is this apartment building located?
    The property is located at 1730 Ocean Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $14,500,000.
    What are key features of this property?
    This property features: Substantial 421a tax abatement in place through 2058, resulting in significantly reduced annual property taxes.; Mix of 15 free market and 19 rent stabilized units provides immediate cash flow and long‑term revenue growth potential.; Modern, 7‑story elevator multifamily property built in 2022.
    (718) 307-6517 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dylan Walsh
    Real Estate License ID: 10401384207
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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