Residential Income Property with Roof
For Sale
$699,000
216 Pulaski Street 3R, Brooklyn, NY 11206
One-bedroom condominium residence with exposed brick, modern finishes, and a private outdoor roof area.
Property Size655 SF
Price / SF$1,067
Days on Market127
Property Features for 216 Pulaski Street 3R
General Information
Standard status
Active
Size
655 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,392
Amenities
private roof space
in-unit washer/dryer
Building Details
Building Size
655 SF
Year Built
2017
Listing Agency:
Compass
(732) 232-4543
Listed By:
Danielle I Mickiewicz
(732) 232-4543
Source:
Howardhannanyc
Added: Apr 21
Changed: Aug 23
Last Checked: Aug 24 at 12:54PM
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 Compass
Investment Insights
Based on property information with market context.
Residence 3R is a 655-square-foot, one-bedroom condominium completed in 2017. The loft-like interior features exposed brick, 10-foot ceilings, oversized colonial-grid windows, and a flexible open layout. The kitchen includes Bertazzoni appliances, while the bathroom offers Spanish tile, brass fixtures, and an oversized stall shower. An in-unit washer and dryer adds everyday convenience.
A private roof space extends the residence outdoors and provides room for entertaining or relaxing. The property is located just off Throop Avenue in Brooklyn, near cafes, restaurants, and neighborhood businesses. Transit access includes the G, A, C, and JMZ trains, along with nearby bus lines.
A private roof space extends the residence outdoors and provides room for entertaining or relaxing. The property is located just off Throop Avenue in Brooklyn, near cafes, restaurants, and neighborhood businesses. Transit access includes the G, A, C, and JMZ trains, along with nearby bus lines.
Key Highlights
- 655‑square‑foot one‑bedroom condominium residence
- Private roof space for outdoor use
- 10‑foot ceilings, exposed brick, and oversized colonial‑grid windows
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
$19,996
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
2.86%
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%
$399,920
$399.9K
Cap Rate 7%
$285,657
$285.7K
Cap Rate 9%
$222,178
$222.2K
Market Conditions
NOI Build-Up for 655 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
$37.1K $56.64/SF
− Vacancy
−$742 −$1.13/SF
EGI
$36.4K $55.51/SF
− OpEx
−$16.4K −$24.98/SF
NOI
$20.0K $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%
$399,920
Cap Rate 7%
$285,657
Cap Rate 9%
$222,178
Alternative Uses
Best Use
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,996 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$542.3K
$474.6K – $632.7K
NOI $37,964 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium residence with exposed brick, modern finishes, and a private outdoor roof area.
Where is this residential income property located?
The property is located at 216 Pulaski Street 3R Brooklyn, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 655‑square‑foot one‑bedroom condominium residence; Private roof space for outdoor use; 10‑foot ceilings, exposed brick, and oversized colonial‑grid windows
