Residential Income Property with Private
For Sale
$1,395,000
216 CALYER Street 1B, Brooklyn, NY 11222
Duplex residence with two bedrooms, two full baths, private gardens, elevator access, and a renovated lobby.
Property Size1,360 SF
Price / SF$1,025
Days on Market165
Property Features for 216 CALYER Street 1B
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Duplex
Building Details
Building Size
1,360 SF
Year Built
2006
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Kim Shepard · License #40SH0875987
(917) 797-9001
Source:
Nobleblackandpartners
Added: Mar 27
Changed: Sep 4
Last Checked: Sep 7 at 9:21AM
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.
This 1,360-square-foot duplex residence is located in a six-story elevator condominium completed in 2006. The main living area includes a decorative fireplace, floor-to-ceiling windows, high ceilings, maple flooring, and direct access to a private garden. Its kitchen features cherry cabinetry, granite counters, and stainless steel appliances. The upper-level primary bedroom includes an en-suite bath with a Jacuzzi tub and marble counters.
A lower-level den or second bedroom is paired with another full bathroom, a wine cellar that may serve as a small office, a large walk-in closet, and access to an additional private garden. The building has a renovated lobby, a roof deck with Manhattan and Brooklyn skyline views, and in-unit washer/dryers. The property is located at 216 CALYER Street 1B in Greenpoint, Brooklyn.
A lower-level den or second bedroom is paired with another full bathroom, a wine cellar that may serve as a small office, a large walk-in closet, and access to an additional private garden. The building has a renovated lobby, a roof deck with Manhattan and Brooklyn skyline views, and in-unit washer/dryers. The property is located at 216 CALYER Street 1B in Greenpoint, Brooklyn.
Key Highlights
- 1,360 SF duplex with 2 bedrooms and 2 bathrooms
- Two private gardens, including direct access from the main living area
- Six‑story elevator condominium completed in 2006
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
$41,519
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
2.98%
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%
$830,380
$830.4K
Cap Rate 7%
$593,129
$593.1K
Cap Rate 9%
$461,322
$461.3K
Market Conditions
NOI Build-Up for 1,360 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
$77.0K $56.64/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$75.5K $55.51/SF
− OpEx
−$34.0K −$24.98/SF
NOI
$41.5K $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%
$830,380
Cap Rate 7%
$593,129
Cap Rate 9%
$461,322
Alternative Uses
Best Use
Apartment 5plus
$593.1K
$519.0K – $692.0K
NOI $41,519 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$985.3K – $1.31M
NOI $78,826 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Duplex residence with two bedrooms, two full baths, private gardens, elevator access, and a renovated lobby.
Where is this residential income property located?
The property is located at 216 CALYER Street 1B Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 1,360 SF duplex with 2 bedrooms and 2 bathrooms; Two private gardens, including direct access from the main living area; Six‑story elevator condominium completed in 2006
