Vacant Two-Unit
For Sale
$2,150,000
216 Monitor Street, Brooklyn, NY 11222
Three-bedroom owner’s duplex includes a separate apartment and flexible occupancy options.
Property Size1,788 SF
Lot Size0.05 Acres
Price / SF$1,202
Days on Market31
Property Features for 216 Monitor Street
General Information
Standard status
Active
Size
1,788 SF
Lot size
0.05 Acres
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,144
Building Details
Building Size
1,788 SF
Year Built
1901
Buildings
1
Listing Agency:
Bond New York Properties LLC
(347) 623-2475
Listed By:
Inga Wszolek
(347) 623-2475
Source:
Philipscheinfeld
Added: Jul 14
Changed: Aug 3
Last Checked: Aug 12 at 3:03PM
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 Bond New York Properties LLC
Investment Insights
Based on property information with market context.
This semi-detached duplex property contains two residential units and will be delivered vacant. The current arrangement includes a three-bedroom owner’s duplex plus a separate one-bedroom apartment, providing a defined layout that can be retained or reconfigured. Built in 1901, the property offers approximately 1,788 square feet of existing living space on a 20 x 100 lot.
The home is located on Monitor Street in Brooklyn’s Greenpoint neighborhood, near McGolrick Park and the Nassau Avenue G train station. Cafes, restaurants, and additional open space are also located nearby. The property’s two-unit configuration supports a range of residential occupancy approaches, subject to purchaser verification of square footage, zoning, and development potential.
The home is located on Monitor Street in Brooklyn’s Greenpoint neighborhood, near McGolrick Park and the Nassau Avenue G train station. Cafes, restaurants, and additional open space are also located nearby. The property’s two-unit configuration supports a range of residential occupancy approaches, subject to purchaser verification of square footage, zoning, and development potential.
Key Highlights
- Two‑unit semi‑detached property delivered vacant
- Three‑bedroom owner’s duplex with separate one‑bedroom apartment
- Approximately 1,788 square feet of existing living space
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
$62,619
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
2.91%
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%
$1,252,380
$1.3M
Cap Rate 7%
$894,557
$894.6K
Cap Rate 9%
$695,767
$695.8K
Market Conditions
NOI Build-Up for 1,788 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
$91.2K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$89.5K $50.03/SF
− OpEx
−$26.8K −$15.01/SF
NOI
$62.6K $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%
$1,252,380
Cap Rate 7%
$894,557
Cap Rate 9%
$695,767
Alternative Uses
Best Use
Multifamily LT 5
$894.6K
$782.7K – $1.04M
NOI $62,619 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$779.8K
$682.3K – $909.8K
NOI $54,586 @ 7.0% cap · market cap 2.54%
Theoretical Best
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,632 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,724
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom owner’s duplex includes a separate apartment and flexible occupancy options.
Where is this duplex located?
The property is located at 216 Monitor Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Two‑unit semi‑detached property delivered vacant; Three‑bedroom owner’s duplex with separate one‑bedroom apartment; Approximately 1,788 square feet of existing living space
