Gravesend Detached Four Family
For Sale
$1,888,000
Pending
1961 W 10th St, Brooklyn, NY 11223
Detached four-family brick building in Gravesend, great location.
Property Size3,120 SF
Lot Size0.06 Acres
Days on Market201
Property Features for 1961 W 10th St
General Information
Standard status
Pending
Size
3,120 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$13,909
Building Details
Building Size
3,120 SF
Year Built
1931
Stories
2
Listing Agency:
Ben Bay Realty Co
Listed By:
Anthony Mussolino
(718) 238-6080
Source:
Elliman
Added: Mar 11
Changed: Sep 17
Last Checked: Sep 26 at 12:01PM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
This detached two-story brick four-family building is located in Gravesend. Constructed in 1931, the property offers over 3100 square feet of living space plus a full basement with a rear entrance. The building's dimensions are 20 feet by 78 feet, situated on a 25 foot by 100 foot lot. The first floor features two apartments: the front apartment has 4 rooms with 2 bedrooms, a living room, a kitchen, and a full bath; the rear apartment has 3 rooms with 1 bedroom, a living room, a kitchen, and a full bath. The second floor also contains two apartments: the front apartment has 3 bedrooms, a living room, a kitchen, and a full bath; the rear apartment has 1 bedroom, a living room, a kitchen, and a full bath. The property includes a shared drive with a curb cut in front. It is located between Avenue S and T, near schools, shopping, and transportation. This property is suitable for a 1031 exchange.
Key Highlights
- Detached 4‑family brick building
- Over 3100 sq. ft. of living space plus a full basement
- Four apartments: two 2‑bedroom units and two 1‑bedroom units
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
$108,567
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
5.75%
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%
$2,171,340
$2.2M
Cap Rate 7%
$1,550,957
$1.6M
Cap Rate 9%
$1,206,300
$1.2M
Market Conditions
NOI Build-Up for 3,100 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
$158.1K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$155.1K $50.03/SF
− OpEx
−$46.5K −$15.01/SF
NOI
$108.6K $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 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%
$2,171,340
Cap Rate 7%
$1,550,957
Cap Rate 9%
$1,206,300
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,567 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,640 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$2.57M
$2.25M – $2.99M
NOI $179,676 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,734
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Detached four-family brick building in Gravesend, great location.
Where is this quadplex located?
The property is located at 1961 W 10th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Detached 4‑family brick building; Over 3100 sq. ft. of living space plus a full basement; Four apartments: two 2‑bedroom units and two 1‑bedroom units
