Stabilized Multifamily
199-201 Chauncey Street Brooklyn, NY 11233
For Sale
Contact for pricing
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 Market103
Property Features for 199-201 Chauncey Street
General Information
Standard status
Active
Size
11,222 SF
Property subtype
Multifamily
Building Details
Year Built
2016
Listing Agency:
Bridge Advisory Group
Listed By:
Eric Delafraz · License #10401334366
Source:
Crexi
Added: Apr 17
Changed: Jul 21
Last Checked: Jul 26 at 1:33PM
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
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 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 | $635.6k | $56.64 |
| − Vacancy | −$12.7k | −$1.13 |
| EGI | $622.9k | $55.51 |
| − OpEx | −$280.3k | −$24.98 |
| NOI | $342.6k | $30.53 |
11,222 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
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.
Property Analytics
Location Intelligence
Current Use
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
