Stabilized Multifamily
For Sale
Contact for pricing
199-201 Chauncey Street, Brooklyn, NY 11233
Multi-unit property in Stuyvesant Heights with a 421-a tax abatement and nine years of remaining eligibility.
Property Size11,222 SF
Price / SF$400
Days on Market195
Property Features for 199-201 Chauncey Street
General Information
Standard status
Active
Size
11,222 SF
Property subtype
Multifamily
Zoning
R6B
Investment Type
Stabilized
Net Operating Income
$316,166
Additional Details
Business Included
Yes
Building Details
Year Built
2016
Buildings
2
Stories
4
Units
16
Tenancy
Multi
Listing Agency:
Bridge Advisory Group
Listed By:
Eric Delafraz · License #10401334366
Source:
Crexi
Added: Apr 17
Changed: Oct 25
Last Checked: Oct 26 at 1:37PM
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 Bridge Advisory Group
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Investment Insights
Based on property information with market context.
199-201 Chauncey Street is a multi-unit residential income property in Stuyvesant Heights, Brooklyn. The building is described as a stabilized investment and includes a valuable 421-a tax abatement with nine years of remaining eligibility.
The property is located on a tree-lined block with nearby access to the A and C express lines at Utica Avenue, providing connectivity to Manhattan.
This offering is being presented with an emphasis on the existing operating profile and the tax-advantaged structure provided by the remaining 421-a eligibility.
The property is located on a tree-lined block with nearby access to the A and C express lines at Utica Avenue, providing connectivity to Manhattan.
This offering is being presented with an emphasis on the existing operating profile and the tax-advantaged structure provided by the remaining 421-a eligibility.
Key Highlights
- Multi‑unit property at 199‑201 Chauncey Street, built in 2016
- Includes a 421‑a tax abatement with nine years of remaining eligibility
- Located in Stuyvesant Heights, with proximity to the A and C express lines at Utica Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$342,596
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,851,920
$6.9M
Cap Rate 7%
$4,894,229
$4.9M
Cap Rate 9%
$3,806,622
$3.8M
Market Conditions
NOI Build-Up for 11,222 SF
Gross rent
$635.6K $56.64/SF
− Vacancy
−$12.7K −$1.13/SF
EGI
$622.9K $55.51/SF
− OpEx
−$280.3K −$24.98/SF
NOI
$342.6K $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%
$6,851,920
Cap Rate 7%
$4,894,229
Cap Rate 9%
$3,806,622
Alternative Uses
Best Use
Apartment 5plus
$4.89M
$4.28M – $5.71M
NOI $342,596 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.29M
$8.13M – $10.84M
NOI $650,427 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit property in Stuyvesant Heights with a 421-a tax abatement and nine years of remaining eligibility.
Where is this multifamily property located?
The property is located at 199-201 Chauncey Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Multi‑unit property at 199‑201 Chauncey Street, built in 2016; Includes a 421‑a tax abatement with nine years of remaining eligibility; Located in Stuyvesant Heights, with proximity to the A and C express lines at Utica Avenue
