Luxury Multifamily Building Near
For Sale
$16,000,000
18 Monitor Street, Brooklyn, NY 11222
New 13-unit apartment building with tax abatement and amenities.
Property Size14,996 SF
Price / SF$1,066
Days on Market302
Property Features for 18 Monitor Street
General Information
Standard status
Active
Size
14,996 SF
Property subtype
Commercial
Zoning
R6B
Taxes and HOA fees
Annual Taxes
$4,597
Building Details
Building Size
14,996 SF
Year Built
2023
Units
13
Listing Agency:
Daniel Gale Sothebys Intl Rlty
(718) 650-5855
Listed By:
George T. Spyridakis
(718) 606-7450
Source:
Croninreale
Added: Dec 29, 2025
Changed: Oct 27
Last Checked: Oct 26 at 6:20PM
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 Daniel Gale Sothebys Intl Rlty
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Investment Insights
Based on property information with market context.
This newly constructed, five-story luxury rental building is located on the border of Greenpoint and Williamsburg. Completed in 2023, the boutique elevator building contains 13 units: seven one-bedroom and six two-bedroom residences, including five affordable units. Each apartment features an in-unit washer and dryer, individual split heating and cooling systems, sleek modern finishes, and an audio-video intercom. Many units also offer private outdoor space. Building amenities include a fitness center, landscaped common courtyard, a rooftop with skyline views, bike storage, and a private garage with eight designated parking spaces. The property benefits from a 421-A tax abatement with approximately 34 years remaining. The location is near the L subway, major highways, waterfront parks, cafes, restaurants, and shopping. The bike score is 82, indicating it is very bikeable. The walk score is 91, indicating it is a walker's paradise. The transit score is 85, indicating excellent transit.
Key Highlights
- New construction (2023) luxury rental building in prime Greenpoint/Williamsburg location.
- 421‑A tax abatement with approximately 34 years remaining.
- Boutique elevator building with a mix of one- and two‑bedroom residences, many with private outdoor space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$457,812
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,156,240
$9.2M
Cap Rate 7%
$6,540,171
$6.5M
Cap Rate 9%
$5,086,800
$5.1M
Market Conditions
NOI Build-Up for 14,996 SF
Gross rent
$849.4K $56.64/SF
− Vacancy
−$17.0K −$1.13/SF
EGI
$832.4K $55.51/SF
− OpEx
−$374.6K −$24.98/SF
NOI
$457.8K $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%
$9,156,240
Cap Rate 7%
$6,540,171
Cap Rate 9%
$5,086,800
Alternative Uses
Best Use
Apartment 5plus
$6.54M
$5.72M – $7.63M
NOI $457,812 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.42M
$10.86M – $14.49M
NOI $869,168 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,889
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - New 13-unit apartment building with tax abatement and amenities.
Where is this apartment building located?
The property is located at 18 Monitor Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: New construction (2023) luxury rental building in prime Greenpoint/Williamsburg location.; 421‑A tax abatement with approximately 34 years remaining.; Boutique elevator building with a mix of one- and two‑bedroom residences, many with private outdoor space.
