Two-Family Duplex with Finished
For Sale
$1,750,000
217 88th Street, New York, NY 11209
Two separate apartments each provide three bedrooms, distinct living and dining areas, and an updated kitchen.
Property Size2,640 SF
Lot Size0.06 Acres
Price / SF$662.88
Days on Market10
Property Features for 217 88th Street
General Information
Standard status
Active
Size
2,640 SF
Lot size
0.06 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,309
Building Details
Buildings
1
Listing Agency:
RE/MAX Edge
(718) 288-3835
Listed By:
Kelly Wu · License #10401268467
(917) 916-2368
Source:
Exprealty
Added: Oct 5
Changed: Oct 13
Last Checked: Oct 13 at 2:22AM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
This Bay Ridge duplex contains two apartments across approximately 2,640 square feet on the main levels. Each unit has three bedrooms, living and dining areas, an updated kitchen, and separate entrances. The first-floor apartment includes one and a half bathrooms; the second-floor unit has one full bath. A finished basement adds flexible space, a bathroom, and laundry. Separate gas and electric meters serve the apartments, and the property is to be delivered vacant at closing.
The 25-by-100-foot lot includes a 20-by-66-foot building, a shared driveway, and a paved rear yard with parking for multiple vehicles. Updates made approximately five years ago included windows, stucco, the driveway, and both yards. The second floor and basement were renovated, the first floor has newer flooring, and the water heater was replaced in 2026.
The property is near the 86th Street shopping district, neighborhood restaurants and shops, the R train, and B37, B16, and X27 bus service. The Belt Parkway, neighborhood parks, bike paths, and Shore Road Promenade are also nearby. The address is within School District 20.
The 25-by-100-foot lot includes a 20-by-66-foot building, a shared driveway, and a paved rear yard with parking for multiple vehicles. Updates made approximately five years ago included windows, stucco, the driveway, and both yards. The second floor and basement were renovated, the first floor has newer flooring, and the water heater was replaced in 2026.
The property is near the 86th Street shopping district, neighborhood restaurants and shops, the R train, and B37, B16, and X27 bus service. The Belt Parkway, neighborhood parks, bike paths, and Shore Road Promenade are also nearby. The address is within School District 20.
Key Highlights
- Two three‑bedroom apartments, each with separate entrance
- Approximately 2,640 square feet across the main levels
- 25 x 100 lot with a 20 x 66 building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,347
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,786,940
$1.8M
Cap Rate 7%
$1,276,386
$1.3M
Cap Rate 9%
$992,744
$992.7K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$134.6K $51.00/SF
− Vacancy
−$7.0K −$2.65/SF
EGI
$127.6K $48.35/SF
− OpEx
−$38.3K −$14.50/SF
NOI
$89.3K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,786,940
Cap Rate 7%
$1,276,386
Cap Rate 9%
$992,744
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,347 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,598 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$6.57M
$5.75M – $7.67M
NOI $459,994 @ 7.0% cap · market cap 26.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
16,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments each provide three bedrooms, distinct living and dining areas, and an updated kitchen.
Where is this duplex located?
The property is located at 217 88th Street New York, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Two three‑bedroom apartments, each with separate entrance; Approximately 2,640 square feet across the main levels; 25 x 100 lot with a 20 x 66 building
