Residential Income Property with Duplex
For Sale
$599,000
216 CALYER Street 1A, Brooklyn, NY 11222
Studio duplex condominium with separated living and sleeping levels, in-unit laundry, and a cedar walk-in closet.
Property Size727 SF
Price / SF$823.93
Days on Market183
Property Features for 216 CALYER Street 1A
General Information
Standard status
Active
Size
727 SF
Elevators
Yes
Property subtype
Duplex
Units
Unit Mix
1 x studio duplex
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,512
Amenities
elevator
roof deck
renovated lobby
in-unit washer/dryer
private outdoor area
Jacuzzi tub
cedar walk-in closet
Building Details
Building Size
727 SF
Year Built
2006
Stories
6
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Kim Shepard · License #40SH0875987
(917) 797-9001
Source:
Bondnyre
Added: Mar 27
Changed: Sep 23
Last Checked: Sep 24 at 3:52PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located at 216 CALYER Street 1A in Brooklyn, this studio duplex is part of a six-story elevator condominium built in 2006. The upper level combines the living room, kitchen, and bathroom, while the lower level provides a private bedroom, in-unit washer/dryer, and cedar walk-in closet. The kitchen includes stainless steel appliances, cherry cabinetry, and granite countertops. The bathroom features a modern vanity and Jacuzzi tub.
Building amenities include a renovated lobby and a roof deck with Manhattan and Brooklyn skyline views. The residence also offers private outdoor space, generous closet storage, and a layout that separates the sleeping area from the primary living spaces. The property is located in Greenpoint, Brooklyn, near the waterfront and the neighborhood’s industrial-era context.
Building amenities include a renovated lobby and a roof deck with Manhattan and Brooklyn skyline views. The residence also offers private outdoor space, generous closet storage, and a layout that separates the sleeping area from the primary living spaces. The property is located in Greenpoint, Brooklyn, near the waterfront and the neighborhood’s industrial-era context.
Key Highlights
- Studio duplex layout with living spaces upstairs and bedroom below
- Six‑story elevator condominium built in 2006
- Stainless steel appliances, cherry cabinetry, and granite countertops
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
$22,195
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
3.71%
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%
$443,900
$443.9K
Cap Rate 7%
$317,071
$317.1K
Cap Rate 9%
$246,611
$246.6K
Market Conditions
NOI Build-Up for 727 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
$41.2K $56.64/SF
− Vacancy
−$824 −$1.13/SF
EGI
$40.4K $55.51/SF
− OpEx
−$18.2K −$24.98/SF
NOI
$22.2K $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 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%
$443,900
Cap Rate 7%
$317,071
Cap Rate 9%
$246,611
Alternative Uses
Best Use
Apartment 5plus
$317.1K
$277.4K – $369.9K
NOI $22,195 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$602.0K
$526.7K – $702.3K
NOI $42,137 @ 7.0% cap · market cap 7.03%
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
5,728
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Studio duplex condominium with separated living and sleeping levels, in-unit laundry, and a cedar walk-in closet.
Where is this residential income property located?
The property is located at 216 CALYER Street 1A Brooklyn, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Studio duplex layout with living spaces upstairs and bedroom below; Six‑story elevator condominium built in 2006; Stainless steel appliances, cherry cabinetry, and granite countertops
