Loft-Style Residential Income
For Sale
$995,000
Pending
201 Spencer Street 5B, Brooklyn, NY 11205
A light-filled apartment offers a private balcony, flexible sleeping arrangements, central heat and AC, and a tax abatement through 2030.
Property Size1,041 SF
Days on Market162
Property Features for 201 Spencer Street 5B
General Information
Standard status
Pending
Size
1,041 SF
Elevators
Yes
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$24
Building Details
Building Size
1,041 SF
Year Built
2004
Listing Agency:
Compass
Listed By:
Daniel Blatman
(917) 297-8575
Source:
Howardhannanyc
Added: May 20
Changed: Oct 28
Last Checked: Oct 28 at 5:52PM
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
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Investment Insights
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This 1,041-square-foot loft-style apartment was built in 2004 and is currently arranged as a spacious one-bedroom home. A key-locked elevator opens directly into the residence, leading to an expansive living and dining area with western treetop views. The private balcony extends the living space outdoors, while the open kitchen provides substantial counter space and storage. A separate home office sits near a half bathroom, and the bedroom wing can be reconfigured for additional sleeping rooms or work areas.
Interior features include oak hardwood floors, central heat and AC, a washer/dryer, and 1.5 bathrooms. Morning light reaches the bedrooms, with afternoon sunlight in the main living area. Residents also have access to a large communal rooftop space. A tax abatement remains in place through 2030. The property is located at 201 Spencer Street 5B, Brooklyn, NY 11205.
Interior features include oak hardwood floors, central heat and AC, a washer/dryer, and 1.5 bathrooms. Morning light reaches the bedrooms, with afternoon sunlight in the main living area. Residents also have access to a large communal rooftop space. A tax abatement remains in place through 2030. The property is located at 201 Spencer Street 5B, Brooklyn, NY 11205.
Key Highlights
- 1,041‑square‑foot loft‑style apartment built in 2004
- Key‑locked elevator opens directly into the residence
- Private balcony with western treetop views over surrounding townhouses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,781
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,620
$635.6K
Cap Rate 7%
$454,014
$454.0K
Cap Rate 9%
$353,122
$353.1K
Market Conditions
NOI Build-Up for 1,041 SF
Gross rent
$59.0K $56.64/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$57.8K $55.51/SF
− OpEx
−$26.0K −$24.98/SF
NOI
$31.8K $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 Rate 5%
$635,620
Cap Rate 7%
$454,014
Cap Rate 9%
$353,122
Alternative Uses
Best Use
Apartment 5plus
$454.0K
$397.3K – $529.7K
NOI $31,781 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$861.9K
$754.2K – $1.01M
NOI $60,336 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
5,363
Businesses Nearby
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Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A light-filled apartment offers a private balcony, flexible sleeping arrangements, central heat and AC, and a tax abatement through 2030.
Where is this residential income property located?
The property is located at 201 Spencer Street 5B Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1,041‑square‑foot loft‑style apartment built in 2004; Key‑locked elevator opens directly into the residence; Private balcony with western treetop views over surrounding townhouses
