Apartment Building with Rear
176 Prospect Park W, Brooklyn, NY 11215
For Sale
New
$8,000,000
Business Opportunity, Brooklyn, NY
Property Size14,200 SF
Lot Size0.09 Acres
Price / SF$563.38
Days on Market5
Property Features for 176 Prospect Park W
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Subdivision
View
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
rear yard
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
REMAX REAL ESTATE PROFESSIONALS
Listed By:
Vito Angelo
(718) 887-5708
Added: Nov 6
Changed: Nov 9
Last Checked: Nov 10 at 8:06PM
MLS# 12059047
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 176 Prospect Park W, this 14,200-square-foot apartment property occupies a 0.0922-acre site. The stone building dates to 1902 and includes hardwood, laminate, and tile flooring. A full unfinished basement has multiple windows and direct access to the rear yard. Building upgrades include a recently installed roof and a new natural gas boiler; steam heating is also listed. The property is nearly fully occupied, and the site measures 41 by 98 feet, with a 41-by-85-foot building footprint and R7A zoning.
The property faces Prospect Park, with access to park paths and recreation across the street. The F train is identified as a nearby transit option, and Prospect Heights, Gowanus, and Downtown Brooklyn are noted as nearby districts.
The property faces Prospect Park, with access to park paths and recreation across the street. The F train is identified as a nearby transit option, and Prospect Heights, Gowanus, and Downtown Brooklyn are noted as nearby districts.
Key Highlights
- 14,200‑square‑foot apartment property on a 0.0922‑acre site
- R7A zoning; lot measures 41'x98' with a 41'x85' building footprint
- Faces Prospect Park and is near the F train
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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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 - R7A zoning and a nearly full occupancy level define this Brooklyn multifamily property.
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: 14,200‑square‑foot apartment property on a 0.0922‑acre site; R7A zoning; lot measures 41'x98' with a 41'x85' building footprint; Faces Prospect Park and is near the F train
