Six-Unit Brick Apartment
For Sale
$3,999,000
199 Java Street, Brooklyn, NY 11222
Pre-war multifamily property with rental apartments and potential owner-occupied duplex layouts.
Property Size7,200 SF
Price / SF$555.42
Days on Market364
Property Features for 199 Java Street
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$13,860
Building Details
Building Size
7,200 SF
Year Built
1931
Listing Agency:
Compass
Listed By:
Neil P Porter · License #10301210428
(917) 603-4863
Source:
Bondnyre
Added: Sep 26, 2025
Changed: Sep 23
Last Checked: Sep 22 at 7:59PM
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 Compass
Investment Insights
Based on property information with market context.
This 7,200-square-foot, six-family apartment building combines brick-and-stone construction with a 1931 vintage. The property includes six rental units and offers potential for an owner’s duplex with exclusive garden access. An alternative configuration described for the building would combine the garden and parlor-floor duplexes into a 3,600-square-foot residence with multiple private outdoor areas.
The structure occupies a 25' by 80' footprint on a 25' X 100' lot at 199 Java Street in Greenpoint, Brooklyn. Neighborhood access includes the G subway line and ferry service, while nearby context includes parks, waterfront green spaces, shops, food markets, boutiques, restaurants, and nightlife venues. The property is positioned within a residential Brooklyn neighborhood with connections to Manhattan and other parts of the city.
The structure occupies a 25' by 80' footprint on a 25' X 100' lot at 199 Java Street in Greenpoint, Brooklyn. Neighborhood access includes the G subway line and ferry service, while nearby context includes parks, waterfront green spaces, shops, food markets, boutiques, restaurants, and nightlife venues. The property is positioned within a residential Brooklyn neighborhood with connections to Manhattan and other parts of the city.
Key Highlights
- 7,200‑square‑foot, six‑family apartment building
- Brick‑and‑stone construction dating to 1931
- 25' by 80' building on a 25' X 100' lot
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
$219,809
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
5.50%
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%
$4,396,180
$4.4M
Cap Rate 7%
$3,140,129
$3.1M
Cap Rate 9%
$2,442,322
$2.4M
Market Conditions
NOI Build-Up for 7,200 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
$407.8K $56.64/SF
− Vacancy
−$8.2K −$1.13/SF
EGI
$399.7K $55.51/SF
− OpEx
−$179.8K −$24.98/SF
NOI
$219.8K $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%
$4,396,180
Cap Rate 7%
$3,140,129
Cap Rate 9%
$2,442,322
Alternative Uses
Best Use
Apartment 5plus
$3.14M
$2.75M – $3.66M
NOI $219,809 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.96M
$5.22M – $6.96M
NOI $417,312 @ 7.0% cap · market cap 10.44%
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
4,887
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
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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?
Apartment building - Pre-war multifamily property with rental apartments and potential owner-occupied duplex layouts.
Where is this apartment building located?
The property is located at 199 Java Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: 7,200‑square‑foot, six‑family apartment building; Brick‑and‑stone construction dating to 1931; 25' by 80' building on a 25' X 100' lot
