Eight-Unit Apartment
For Sale
$3,690,000
19 Clifford Place, Brooklyn, NY 11222
Commercial Sale, Brooklyn, NY
Property Size7,000 SF
Lot Size0.06 Acres
Price / SF$527.14
Days on Market102
Property Features for 19 Clifford Place
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
16
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 15, Bedroom 11, Bathroom 6, Bedroom 5, Bedroom 1, Bathroom 7, Bedroom 9, Bedroom 10, Bedroom 4, Bedroom 13, Bedroom 8, Bathroom 3, Bedroom 12, Bedroom 6, Bathroom 8, Bathroom 9, Bedroom 2, Bedroom 7, Bedroom 14, Bathroom 1, Bedroom 16, Bathroom 2
Subdivision
Greenpoint
High school district
000000
Standard status
Active
Size
7,000 SF
Lot size
0.06 Acres
Amenities
rear yard
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Olgierd Minkiewicz · License #10301219271
Added: May 19
Changed: Aug 28
Last Checked: Aug 28 at 9:06PM
MLS# 11831833
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.
Built in 1930, this four-story masonry apartment property contains eight residential units with 16 bedrooms and 9 bathrooms across approximately 7,000 SF. The building measures 25' x 70' and occupies a 25' x 100' lot, with an approximately 30' x 25' rear yard. Apartments average approximately 875 SF and are described as bright and well proportioned.
The property is located at 19 Clifford Place in Brooklyn’s Greenpoint area, near the Williamsburg border. Franklin Street is one block away, Manhattan Avenue is three blocks away, and the Greenpoint and Williamsburg waterfronts are nearby. The G and L subway lines provide transportation access, while surrounding dining, shopping, nightlife, and cultural destinations add neighborhood context.
The property is located at 19 Clifford Place in Brooklyn’s Greenpoint area, near the Williamsburg border. Franklin Street is one block away, Manhattan Avenue is three blocks away, and the Greenpoint and Williamsburg waterfronts are nearby. The G and L subway lines provide transportation access, while surrounding dining, shopping, nightlife, and cultural destinations add neighborhood context.
Key Highlights
- Eight‑unit apartment property built in 1930
- Four stories with 16 bedrooms and 9 bathrooms
- Approximately 7,000 SF of residential space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$213,703
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,274,060
$4.3M
Cap Rate 7%
$3,052,900
$3.1M
Cap Rate 9%
$2,374,478
$2.4M
Market Conditions
NOI Build-Up for 7,000 SF
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.
Gross rent
$396.5K $56.64/SF
− Vacancy
−$7.9K −$1.13/SF
EGI
$388.6K $55.51/SF
− OpEx
−$174.8K −$24.98/SF
NOI
$213.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,274,060
Cap Rate 7%
$3,052,900
Cap Rate 9%
$2,374,478
Alternative Uses
Best Use
Apartment 5plus
$3.05M
$2.67M – $3.56M
NOI $213,703 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.80M
$5.07M – $6.76M
NOI $405,720 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
5,992
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four-story masonry property with 16 bedrooms, 9 bathrooms, and an approximately 30' x 25' rear yard.
Where is this apartment building located?
The property is located at 19 Clifford Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,690,000.
What are key features of this property?
This property features: Eight‑unit apartment property built in 1930; Four stories with 16 bedrooms and 9 bathrooms; Approximately 7,000 SF of residential space
