Six-Family Residential Building with Air
1823 Bleecker Street Ridgewood, NY 11385
1823 Bleecker Street, Ridgewood, NY, 11385
$1,950,000
For Sale
$1,950,000
COMMERCIAL - Ridgewood, NY
Property Size3,600 SF
Lot Size0.06 Acres
Price / SF$541.67
Days on Market278
Property Features for 1823 Bleecker Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Lot size
- 0.06 Acres
Listing agency
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed by
Emma Barattini
(646) 838-1378
Added: Oct 17, 2025 Updated: Jul 2 at 4:23PM Checked: Jul 21 at 7:06PM
MLS# 11592209
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.
Investment Insights
Based on property information with market context.
This semi-detached six-family building is configured as three free-market units and three rent-stabilized units. Each unit is one bedroom and one bathroom, with hardwood flooring throughout. Some units have been fully renovated and include in-unit dishwashers, as well as washers/dryers.
The building is three stories and measures 3,600 SF on a 2,500 SF lot (25' x 100'). It also includes 1,400 SF of unused air rights. The property is within a short walk of the M train at Seneca Avenue and the L train at Dekalb Avenue.
Designed for residential income use, the mix of free-market and rent-stabilized units may appeal to buyers seeking a diversified in-place tenancy profile. The unused air rights provide an additional path for future development within the existing property footprint. All described details reflect the current unit configuration, building size, and air-rights attribute noted in the listing.
The building is three stories and measures 3,600 SF on a 2,500 SF lot (25' x 100'). It also includes 1,400 SF of unused air rights. The property is within a short walk of the M train at Seneca Avenue and the L train at Dekalb Avenue.
Designed for residential income use, the mix of free-market and rent-stabilized units may appeal to buyers seeking a diversified in-place tenancy profile. The unused air rights provide an additional path for future development within the existing property footprint. All described details reflect the current unit configuration, building size, and air-rights attribute noted in the listing.
Key Highlights
- Semi‑detached 6‑family building in Ridgewood with 1,400 SF of unused air rights
- 3 free‑market units and 3 rent‑stabilized units; all units are 1 bed, 1 bath
- 3,600 SF building (20' x 60') on a 25' x 100' lot (2,500 SF)
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 | $166.3k | $46.20 |
| − Vacancy | −$6.3k | −$1.76 |
| EGI | $160.0k | $44.44 |
| − OpEx | −$72.0k | −$20.00 |
| NOI | $88.0k | $24.44 |
3,600 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Semi-detached six-family property with unused air rights and one-bedroom units across free-market and rent-stabilized homes.
Where is this apartment building located?
The property is located at 1823 Bleecker Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Semi‑detached 6‑family building in Ridgewood with 1,400 SF of unused air rights; 3 free‑market units and 3 rent‑stabilized units; all units are 1 bed, 1 bath; 3,600 SF building (20' x 60') on a 25' x 100' lot (2,500 SF)
