Two-Bedroom Residential Income
For Sale
$675,000
215 BAY 23RD Street 2A, Brooklyn, NY 11214
The condo includes an eat-in kitchen and a separate dining area.
Property Size997 SF
Price / SF$677.03
Days on Market19
Property Features for 215 BAY 23RD Street 2A
General Information
Standard status
Active
Size
997 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,516
Building Details
Building Size
997 SF
Year Built
2004
Listing Agency:
ISLAND ADVANTAGE REALTY LLC
Listed By:
Todd Yovino · License #49YO0956714
(516) 819-7800
Source:
Carlinwright
Added: Sep 21
Changed: Sep 28
Last Checked: Oct 7 at 6:42PM
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 ISLAND ADVANTAGE REALTY LLC
Investment Insights
Based on property information with market context.
This Brooklyn condo offers two bedrooms and four full bathrooms. Its interior includes an eat-in kitchen and a distinct dining area, providing separate spaces for meal preparation and dining. The building was constructed in 2004.
Key Highlights
- Two bedrooms and four full bathrooms
- Eat‑in kitchen and separate dining area
- Built in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,371
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,420
$487.4K
Cap Rate 7%
$348,157
$348.2K
Cap Rate 9%
$270,789
$270.8K
Market Conditions
NOI Build-Up for 997 SF
Gross rent
$46.1K $46.20/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$44.3K $44.44/SF
− OpEx
−$19.9K −$20.00/SF
NOI
$24.4K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,420
Cap Rate 7%
$348,157
Cap Rate 9%
$270,789
Alternative Uses
Best Use
Apartment 5plus
$348.2K
$304.6K – $406.2K
NOI $24,371 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$581.6K
$508.9K – $678.5K
NOI $40,712 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,286
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes an eat-in kitchen and a separate dining area.
Where is this residential income property located?
The property is located at 215 BAY 23RD Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two bedrooms and four full bathrooms; Eat‑in kitchen and separate dining area; Built in 2004
