Six-Family Brick Apartment
For Sale
$1,369,000
227 55th Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size3,792 SF
Lot Size0.05 Acres
Price / SF$361.02
Days on Market163
Property Features for 227 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bathroom 6, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 3
Basement
Full, Unfinished
Subdivision
Sunset Park
Standard status
Active
Size
3,792 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
11611
Building Details
Number of units
6
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Kirin Real Estate LLC
Listed By:
Allen Z. Luo · License #10491214007
(929) 460-0008
Added: Apr 22
Changed: Sep 15
Last Checked: Oct 1 at 4:06PM
MLS# 500576
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-family apartment building contains 3,792 square feet and is constructed of brick with hardwood and tile flooring. The unit mix includes two one-bedroom apartments and four two-bedroom apartments, providing a range of residential layouts within the property. A full basement adds storage space, while a flat roof, upgraded electrical service, new heating equipment, and a new boiler reflect substantial recent improvements.
The property occupies 0.046 acres at 227 55th Street in Brooklyn, NY 11220. R and N subway stations are nearby, with access to the B11 and B63 bus routes. Surrounding amenities identified for the property include dining, markets, schools, hospitals, and Sunset Park.
The property occupies 0.046 acres at 227 55th Street in Brooklyn, NY 11220. R and N subway stations are nearby, with access to the B11 and B63 bus routes. Surrounding amenities identified for the property include dining, markets, schools, hospitals, and Sunset Park.
Key Highlights
- Six‑family apartment building with 3,792 square feet
- Unit mix includes 2 one‑bedroom and 4 two‑bedroom apartments
- Brick construction with hardwood and tile flooring
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
$101,120
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
7.39%
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%
$2,022,400
$2.0M
Cap Rate 7%
$1,444,571
$1.4M
Cap Rate 9%
$1,123,556
$1.1M
Market Conditions
NOI Build-Up for 3,792 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
$191.1K $50.40/SF
− Vacancy
−$7.3K −$1.92/SF
EGI
$183.9K $48.48/SF
− OpEx
−$82.7K −$21.82/SF
NOI
$101.1K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$2,022,400
Cap Rate 7%
$1,444,571
Cap Rate 9%
$1,123,556
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.69M
NOI $101,120 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,078 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated building systems and a full basement support a six-family residential configuration.
Where is this apartment building located?
The property is located at 227 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Six‑family apartment building with 3,792 square feet; Unit mix includes 2 one‑bedroom and 4 two‑bedroom apartments; Brick construction with hardwood and tile flooring
