Duplex with Finished
New
For Sale
$1,949,000
2144 Bay Ridge Pkwy, Brooklyn, NY 11204
Two apartments provide a seven-bedroom configuration, with a finished basement and garage parking.
Property Size2,480 SF
Days on Market2
Property Features for 2144 Bay Ridge Pkwy
General Information
Standard status
Active
Size
2,480 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.75BA, 1 x 4BR/1.75BA
Multifamily Units
2
Additional Details
Gross Income
$100,800
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,261
Building Details
Building Size
2,480 SF
Year Built
1920
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Ben Bay Realty Co
Listed By:
John Koulouroudis · License #JAK0147
(718) 238-6080
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:16PM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
This 1920-built duplex contains two apartments: a first-floor unit with 3 bedrooms and 1¾ baths, and an upper-floor unit with 4 bedrooms and 1¾ baths. The finished basement has both separate and interior access and is not part of the current lease. A shared driveway and a two-car garage provide off-street parking.
At 2144 Bay Ridge Pkwy in Brooklyn, the property is near Bay Parkway, shops, dining, and local amenities. Bus service includes the B4, B6, B82, and B82-SBS, with connections to the D, N, and W subway lines. All tenants are on month-to-month arrangements.
At 2144 Bay Ridge Pkwy in Brooklyn, the property is near Bay Parkway, shops, dining, and local amenities. Bus service includes the B4, B6, B82, and B82-SBS, with connections to the D, N, and W subway lines. All tenants are on month-to-month arrangements.
Key Highlights
- Two apartments: 3 bedrooms and 1¾ baths downstairs; 4 bedrooms and 1¾ baths upstairs
- Finished basement with separate and interior access; excluded from the current lease
- Shared driveway and two‑car garage
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
$86,854
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
4.46%
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%
$1,737,080
$1.7M
Cap Rate 7%
$1,240,771
$1.2M
Cap Rate 9%
$965,044
$965.0K
Market Conditions
NOI Build-Up for 2,480 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
$126.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$124.1K $50.03/SF
− OpEx
−$37.2K −$15.01/SF
NOI
$86.9K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$1,737,080
Cap Rate 7%
$1,240,771
Cap Rate 9%
$965,044
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,854 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$1.08M
$946.4K – $1.26M
NOI $75,712 @ 7.0% cap · market cap 3.88%
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,741 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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?
Duplex - Two apartments provide a seven-bedroom configuration, with a finished basement and garage parking.
Where is this duplex located?
The property is located at 2144 Bay Ridge Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: Two apartments: 3 bedrooms and 1¾ baths downstairs; 4 bedrooms and 1¾ baths upstairs; Finished basement with separate and interior access; excluded from the current lease; Shared driveway and two‑car garage
