All-Brick 4-Family
For Sale
$1,900,000
21 Bay 14th Street, Brooklyn, NY 11214
Recently renovated 4-family with four 2-bedroom units and a first-floor space delivered vacant with basement and private yard access.
Property Size2,400 SF
Lot Size0.06 Acres
Days on Market50
Property Features for 21 Bay 14th Street
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.06 Acres
Property subtype
Multi Family Home
Zoning
R5
Additional Details
Multifamily Units
4
Building Details
Building Size
2,400 SF
Year Built
1906
Stories
3
Construction
all-brick
Tenancy
Multi
Listing Agency:
Re/Max Elite
Listed By:
Salvatore Carola
(718) 690-3900
Source:
Michaelfraulo
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 8 at 8:30AM
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 Re/Max Elite
Investment Insights
Based on property information with market context.
This impressive all-brick 4-family building features four spacious 2-bedroom units. The property has been recently renovated and is presented as move-in ready. The first-floor unit will be delivered vacant, with exclusive access to a full basement and private yard, creating a practical option for owner occupancy while maintaining rental upside from the remaining units.
Located in Bath Beach, Brooklyn, the building is positioned near public transportation, including the B1, B16, and B64 buses, as well as access to the D train. Residents also have convenient access to local shops and dining.
The building sits on a 25’ x 109’ lot. With four separate units and the added flexibility of a vacant first-floor delivery, this property is designed for straightforward occupancy and income generation.
Located in Bath Beach, Brooklyn, the building is positioned near public transportation, including the B1, B16, and B64 buses, as well as access to the D train. Residents also have convenient access to local shops and dining.
The building sits on a 25’ x 109’ lot. With four separate units and the added flexibility of a vacant first-floor delivery, this property is designed for straightforward occupancy and income generation.
Key Highlights
- All‑brick 4‑family built in 1906 on a 25’ x 109’ lot in Bath Beach, Brooklyn
- Four spacious 2‑bedroom units, with the first‑floor unit delivered vacant
- First‑floor vacant unit includes exclusive access to a full basement and private yard
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
$65,460
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
3.45%
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%
$1,309,200
$1.3M
Cap Rate 7%
$935,143
$935.1K
Cap Rate 9%
$727,333
$727.3K
Market Conditions
NOI Build-Up for 2,400 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
$97.9K $40.80/SF
− Vacancy
−$4.4K −$1.84/SF
EGI
$93.5K $38.96/SF
− OpEx
−$28.1K −$11.69/SF
NOI
$65.5K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,309,200
Cap Rate 7%
$935,143
Cap Rate 9%
$727,333
Alternative Uses
Best Use
Multifamily LT 5
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,003 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Quadplex - Recently renovated 4-family with four 2-bedroom units and a first-floor space delivered vacant with basement and private yard access.
Where is this quadplex located?
The property is located at 21 Bay 14th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: All‑brick 4‑family built in 1906 on a 25’ x 109’ lot in Bath Beach, Brooklyn; Four spacious 2‑bedroom units, with the first‑floor unit delivered vacant; First‑floor vacant unit includes exclusive access to a full basement and private yard
