Renovated Four-Family
For Sale
$4,000,000
230 Frost Street, Brooklyn, NY 11211
Two separate dwellings provide four apartments with private entrances and updated interiors.
Property Size4,580 SF
Lot Size0.08 Acres
Price / SF$873.36
Days on Market79
Property Features for 230 Frost Street
General Information
Standard status
Active
Size
4,580 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$15,504
Amenities
voice intercom system
washer/dryer
outdoor space
Building Details
Building Size
4,580 SF
Year Built
1930
Buildings
2
Tenancy
Multi
Listing Agency:
Compass
(860) 573-4276
Listed By:
Maryellen Rodriguez
(860) 573-4276
Source:
Carytamura
Added: May 27
Changed: Aug 12
Last Checked: Aug 12 at 3:36PM
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.
Located at 230 Frost Street in Williamsburg, this four-family property includes two separate dwellings on a 25-by-135-foot lot. The main building contains three two-bedroom, one-and-a-half-bath apartments, each spanning more than 1,100 square feet. A freestanding rear duplex includes two bedrooms, one bathroom, a private entrance, its own washer and dryer, and outdoor space.
The property offers 16 rooms and 8 bedrooms with recently renovated kitchens and bathrooms. Kitchen features include an open layout, granite countertops, a breakfast bar, and a kitchen island. Additional interior details include ceramic bathroom finishes, hardwood floors, recessed lighting, and a voice intercom system. Tenants pay their own utilities, including heat and hot water. The property was built in 1930.
The property offers 16 rooms and 8 bedrooms with recently renovated kitchens and bathrooms. Kitchen features include an open layout, granite countertops, a breakfast bar, and a kitchen island. Additional interior details include ceramic bathroom finishes, hardwood floors, recessed lighting, and a voice intercom system. Tenants pay their own utilities, including heat and hot water. The property was built in 1930.
Key Highlights
- Four‑family property with two separate dwellings on a 25‑by‑135‑foot lot
- Main building includes three two‑bedroom, one‑and‑a‑half‑bath apartments
- Rear freestanding duplex has two bedrooms, one bathroom, private entrance, washer/dryer, and outdoor 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
$160,399
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
4.01%
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%
$3,207,980
$3.2M
Cap Rate 7%
$2,291,414
$2.3M
Cap Rate 9%
$1,782,211
$1.8M
Market Conditions
NOI Build-Up for 4,580 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
$233.6K $51.00/SF
− Vacancy
−$4.4K −$0.97/SF
EGI
$229.1K $50.03/SF
− OpEx
−$68.7K −$15.01/SF
NOI
$160.4K $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%
$3,207,980
Cap Rate 7%
$2,291,414
Cap Rate 9%
$1,782,211
Alternative Uses
Best Use
Multifamily LT 5
$2.29M
$2.00M – $2.67M
NOI $160,399 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$2.00M
$1.75M – $2.33M
NOI $139,823 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$3.79M
$3.32M – $4.42M
NOI $265,457 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,889
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
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?
Quadplex - Two separate dwellings provide four apartments with private entrances and updated interiors.
Where is this quadplex located?
The property is located at 230 Frost Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Four‑family property with two separate dwellings on a 25‑by‑135‑foot lot; Main building includes three two‑bedroom, one‑and‑a‑half‑bath apartments; Rear freestanding duplex has two bedrooms, one bathroom, private entrance, washer/dryer, and outdoor space
