Renovated Brooklyn Coop
For Sale
$409,000
Pending
2299 E 13th St 4E, Brooklyn, NY 11229
Spacious 3-bedroom coop in a prime Brooklyn location.
Property Size900 SF
Days on Market270
Property Features for 2299 E 13th St 4E
General Information
Standard status
Pending
Size
900 SF
Property subtype
Residential
Building Details
Building Size
900 SF
Year Built
1960
Units
66
Listing Agency:
(718) 234-9617
Listed By:
Alexandr Dvorin
(718) 234-9617
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 16
Last Checked: Aug 24 at 7:49AM
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 Alexandr Dvorin
Investment Insights
Based on property information with market context.
This renovated coop apartment, originally a Junior-4, features 3 bedrooms, including a large master bedroom and two additional bedrooms, along with ample closet space that includes two walk-in closets and one medium-sized closet. The unit has a remodeled bathroom, hardwood floors, and a modern kitchen equipped with stainless steel appliances such as a refrigerator, dishwasher, stove, and washing machine. Located on the 5th floor of a 7-story elevator building, the apartment benefits from abundant sunlight. The building features an updated lobby, a security camera system, an intercom, a laundry room, and a live-in superintendent. Subletting is permitted after two years of ownership. Storage and indoor parking are available via a waiting list, with parking costing $250 per month. Situated in a desirable Brooklyn neighborhood, the property is located close to the Q-train and Sheepshead Bay.
Key Highlights
- Spacious 3‑bedroom coop in a prime, fast‑appreciating Brooklyn location near Sheepshead Bay and the Q‑train.
- Fully renovated with hardwood floors, modern kitchen, stainless steel appliances (fridge, dishwasher, stove, washing machine), and remodeled bathroom.
- Building amenities include an elevator, updated lobby, security camera system, intercom, laundry room, and live‑in super.
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
$27,476
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
6.72%
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%
$549,520
$549.5K
Cap Rate 7%
$392,514
$392.5K
Cap Rate 9%
$305,289
$305.3K
Market Conditions
NOI Build-Up for 900 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
$51.0K $56.64/SF
− Vacancy
−$1.0K −$1.13/SF
EGI
$50.0K $55.51/SF
− OpEx
−$22.5K −$24.98/SF
NOI
$27.5K $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%
$549,520
Cap Rate 7%
$392,514
Cap Rate 9%
$305,289
Alternative Uses
Best Use
Apartment 5plus
$392.5K
$343.5K – $457.9K
NOI $27,476 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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?
Apartment building - Spacious 3-bedroom coop in a prime Brooklyn location.
Where is this apartment building located?
The property is located at 2299 E 13th St 4E Brooklyn, NY.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Spacious 3‑bedroom coop in a prime, fast‑appreciating Brooklyn location near Sheepshead Bay and the Q‑train.; Fully renovated with hardwood floors, modern kitchen, stainless steel appliances (fridge, dishwasher, stove, washing machine), and remodeled bathroom.; Building amenities include an elevator, updated lobby, security camera system, intercom, laundry room, and live‑in super.
