18-Unit Apartment Building
For Sale
$3,500,000
234-238 Powers Street, Brooklyn, NY 11211
Commercial Sale, Brooklyn, NY
Property Size10,500 SF
Lot Size0.04 Acres
Price / SF$333.33
Days on Market472
Property Features for 234-238 Powers Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R7A/R6B
Rooms
Basement
Basement
Full, Unfinished
Standard status
Active
APN
02784-0014
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
49925
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
18
Building materials
Brick
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Sal J. Crifasi
(718) 782-4411
Added: Jul 9, 2025
Changed: Oct 20
Last Checked: Oct 23 at 7:06AM
MLS# 887174
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This offering includes three contiguous brick apartment buildings at 234, 236, and 238 Powers Street, with six residential units in each building and 18 units overall. The properties were built in 1920 and contain approximately 10,500 square feet. Across the portfolio, the unit mix includes 12 one-bedroom apartments and 6 two-bedroom apartments. Several apartments are rented, while others are vacant or owner-occupied, creating varied operating conditions across the buildings.
The properties are near the Grand St L-train station and Williamsburg retail corridors. Each building occupies an 18.75 x 100-foot lot, with three lots included in the offering. Additional property features include brick construction, oil heat, window or wall/window cooling units, public water, public sewer, and natural gas availability. The properties are zoned R7A/R6B.
The properties are near the Grand St L-train station and Williamsburg retail corridors. Each building occupies an 18.75 x 100-foot lot, with three lots included in the offering. Additional property features include brick construction, oil heat, window or wall/window cooling units, public water, public sewer, and natural gas availability. The properties are zoned R7A/R6B.
Key Highlights
- Three adjacent six‑unit apartment buildings totaling 18 residential units
- Approximately 10,500 square feet across the portfolio
- Unit mix includes 12 one‑bedroom and 6 two‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$320,554
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,411,080
$6.4M
Cap Rate 7%
$4,579,343
$4.6M
Cap Rate 9%
$3,561,711
$3.6M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$594.7K $56.64/SF
− Vacancy
−$11.9K −$1.13/SF
EGI
$582.8K $55.51/SF
− OpEx
−$262.3K −$24.98/SF
NOI
$320.6K $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 Rate 5%
$6,411,080
Cap Rate 7%
$4,579,343
Cap Rate 9%
$3,561,711
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,554 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.69M
$7.61M – $10.14M
NOI $608,580 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
5,669
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three adjoining brick properties offer a mix of occupied, vacant, and owner-occupied apartments near the Grand St L-train station.
Where is this apartment building located?
The property is located at 234-238 Powers Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Three adjacent six‑unit apartment buildings totaling 18 residential units; Approximately 10,500 square feet across the portfolio; Unit mix includes 12 one‑bedroom and 6 two‑bedroom apartments
