Stabilized Multifamily
For Sale
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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 Market148
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: Aug 14
Last Checked: Sep 11 at 7:20AM
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
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
$342,596
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
7.61%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
