Mixed-Use Building With
For Sale
$22,000,000
200 Sterling Place, Brooklyn, NY 11238
Residential apartments are combined with multiple commercial tenancies in a single income-producing property.
Property Size35,752 SF
Lot Size0.19 Acres
Price / SF$615.35
Days on Market54
Property Features for 200 Sterling Place
General Information
Standard status
Active
Size
35,752 SF
Lot size
0.19 Acres
Property subtype
Commercial
Additional Details
Multifamily Units
43
Taxes and HOA fees
Annual Taxes
$365,475
Building Details
Buildings
1
Units
43
Tenancy
Multi
Listing Agency:
Park Slope
Listed By:
Dwayne Powell · License #40PO1142742
(917) 309-2414
Source:
Corcoran
Added: Aug 17
Changed: Sep 29
Last Checked: Oct 7 at 12:30PM
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 Park Slope
Investment Insights
Based on property information with market context.
This mixed-use property contains 43 residential apartments in one-, two-, and three-bedroom configurations, together with multiple retail tenancies. Commercial occupants include a store, café, restaurant, and medical use. The building totals 35,752 square feet and includes 16 fully renovated apartments, 11 partially renovated units, and 5 minimally renovated units.
The property occupies a 137.67-foot by 60-foot lot at 200 Sterling Place in Brooklyn. Unused air rights contribute to a maximum buildable area of 65,618 square feet. Current FAR is 3.28, while the stated residential FAR is 6.02. Operating expenses are reported at under 40%.
The property occupies a 137.67-foot by 60-foot lot at 200 Sterling Place in Brooklyn. Unused air rights contribute to a maximum buildable area of 65,618 square feet. Current FAR is 3.28, while the stated residential FAR is 6.02. Operating expenses are reported at under 40%.
Key Highlights
- 43 residential units with 1 BR, 2 BR, and 3 BR configurations
- Multiple retail tenancies, including store, café, restaurant, and medical uses
- 35,752 SF current building area on a 137.67 ft x 60 ft lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,714,473
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$34,289,460
$34.3M
Cap Rate 7%
$24,492,471
$24.5M
Cap Rate 9%
$19,049,700
$19.0M
Market Conditions
NOI Build-Up for 35,752 SF
Gross rent
$2.78M $77.76/SF
− Vacancy
−$330.8K −$9.25/SF
EGI
$2.45M $68.51/SF
− OpEx
−$734.8K −$20.55/SF
NOI
$1.71M $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$34,289,460
Cap Rate 7%
$24,492,471
Cap Rate 9%
$19,049,700
Alternative Uses
Best Use
Retail
$24.49M
$21.43M – $28.57M
NOI $1,714,473 @ 7.0% cap · market cap 7.79%
Second Best
Mixed Use
$18.54M
$16.22M – $21.63M
NOI $1,297,798 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$29.60M
$25.90M – $34.54M
NOI $2,072,186 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
43
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,597
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
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?
Mixed-use property - Residential apartments are combined with multiple commercial tenancies in a single income-producing property.
Where is this mixed-use property located?
The property is located at 200 Sterling Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: 43 residential units with 1 BR, 2 BR, and 3 BR configurations; Multiple retail tenancies, including store, café, restaurant, and medical uses; 35,752 SF current building area on a 137.67 ft x 60 ft lot
