Landmarked Nine-Unit Apartment
176 Prospect Park W, Brooklyn, NY 11215
For Sale
New
$8,000,000
Nine four-bedroom residences occupy a maintained, four-story limestone building with basement space and a rear yard.
Property Size14,200 SF
Lot Size0.09 Acres
Price / SF$563.38
Days on Market2
Property Features for 176 Prospect Park W
General Information
Standard status
Size
Elevators
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
rear yard
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
Remax Real Estate Professionals
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Nov 6
Last Checked: Nov 6 at 2:50PM
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 Remax Real Estate Professionals
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Investment Insights
Based on property information with market context.
At 176 Prospect Park West, this landmarked limestone apartment building dates to 1902 and contains nine residences across four stories. Each apartment offers four bedrooms and one bathroom, with an approximate area of 1,400 square feet; total living space is about 14,200 square feet. The building includes a full basement, a rear yard, original architectural details, a new gas boiler, and a recently installed roof. The basement is unfinished, has multiple windows, and opens directly to the yard. The property is nearly fully occupied and sits on a 41-by-98-foot lot, with a 41-by-85-foot building footprint and R7A zoning.
The building is directly across from Prospect Park. The F train is accessible nearby, and the property is also described as close to Prospect Heights, Gowanus, and Downtown Brooklyn. Walk Score, Bike Score, and Transit Score are 96, 90, and 98, respectively.
The building is directly across from Prospect Park. The F train is accessible nearby, and the property is also described as close to Prospect Heights, Gowanus, and Downtown Brooklyn. Walk Score, Bike Score, and Transit Score are 96, 90, and 98, respectively.
Key Highlights
- Nine apartments, each with four bedrooms and one bathroom
- Approximately 14,200 square feet of living space; each residence is about 1,400 square feet
- 41‑by‑98‑foot lot with a 41‑by‑85‑foot building footprint; R7A zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$433,511
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,670,220
$8.7M
Cap Rate 7%
$6,193,014
$6.2M
Cap Rate 9%
$4,816,789
$4.8M
Market Conditions
NOI Build-Up for 14,200 SF
Gross rent
$804.3K $56.64/SF
− Vacancy
−$16.1K −$1.13/SF
EGI
$788.2K $55.51/SF
− OpEx
−$354.7K −$24.98/SF
NOI
$433.5K $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 Rate 5%
$8,670,220
Cap Rate 7%
$6,193,014
Cap Rate 9%
$4,816,789
Alternative Uses
Best Use
Apartment 5plus
$6.19M
$5.42M – $7.23M
NOI $433,511 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.76M
$10.29M – $13.72M
NOI $823,032 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
4,427
Businesses Nearby
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Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Brooklyn, NY
Properties on Market for Apartment buildings in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Nine four-bedroom residences occupy a maintained, four-story limestone building with basement space and a rear yard.
Where is this apartment building located?
The property is located at 176 Prospect Park W Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Nine apartments, each with four bedrooms and one bathroom; Approximately 14,200 square feet of living space; each residence is about 1,400 square feet; 41‑by‑98‑foot lot with a 41‑by‑85‑foot building footprint; R7A zoning
