Brooklyn Double Lot
For Sale
$1,750,000
1960 Stillwell Ave, Brooklyn, NY 11223
Two lots near D Train with development potential.
Property Size2,934 SF
Lot Size0.14 Acres
Price / SF$596.46
Days on Market231
Property Features for 1960 Stillwell Ave
General Information
Standard status
Active
Size
2,934 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,914
Building Details
Building Size
2,934 SF
Year Built
1965
Stories
2
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Siu Kit Wong · License #SW6470
(718) 532-2000
Source:
Elliman
Added: Mar 10
Changed: Oct 25
Last Checked: Jul 15 at 10:46PM
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 RE/MAX Real Estate Professiona
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Investment Insights
Based on property information with market context.
This unique property features double lots totaling approximately 10,000 sq ft, zoned R5, with a wider street providing extra buildable space. Located with frontage on both 25th Ave and Stillwell Ave, the property benefits from ample sunlight and expansive views, making it suitable for developers, builders, or end users. The existing detached, brick, two-family home has separate entrances for each unit. The lot size is 6,175 sq ft, with a building size of 2,934 sq ft and dimensions of 29X50. A working water well is present, ideal for gardening. The roof is 8 years old. The property is in move-in condition and includes 5 bedrooms and 4 baths, a beautiful front yard, and parking spaces. Situated for convenient city access, it is a short distance from the D Train station on 86th Street. Local amenities such as supermarkets, restaurants, bakeries, and schools are nearby. Full possession is available at closing. Note: This price is only for 1960 Stillwell Ave, one of the two lots. 2505 84th Street is not included.
Key Highlights
- Double lots (approximately 10,000 sq ft) with R5 zoning, offering significant buildable space potential.
- Large, detached, brick 2‑family house with separate entrances, ideal for multi‑generational living or rental income.
- Convenient location with easy city access via the D Train station on 86th Street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,754
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,055,080
$2.1M
Cap Rate 7%
$1,467,914
$1.5M
Cap Rate 9%
$1,141,711
$1.1M
Market Conditions
NOI Build-Up for 2,934 SF
Gross rent
$149.6K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$146.8K $50.03/SF
− OpEx
−$44.0K −$15.01/SF
NOI
$102.8K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,055,080
Cap Rate 7%
$1,467,914
Cap Rate 9%
$1,141,711
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.28M – $1.71M
NOI $102,754 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,572 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$2.43M
$2.13M – $2.83M
NOI $170,055 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,578
Businesses Nearby
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Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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?
Residential land & home lot - Two lots near D Train with development potential.
Where is this residential land & home lot located?
The property is located at 1960 Stillwell Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Double lots (approximately 10,000 sq ft) with R5 zoning, offering significant buildable space potential.; Large, detached, brick 2‑family house with separate entrances, ideal for multi‑generational living or rental income.; Convenient location with easy city access via the D Train station on 86th Street.
