18-Unit Apartment
For Sale
$3,500,000
234-238 Powers Street, Brooklyn, NY 11211
Three adjoining brick buildings contain one- and two-bedroom apartments near the Grand Street L station.
Property Size10,500 SF
Lot Size0.13 Acres
Price / SF$333.33
Days on Market10
Property Features for 234-238 Powers Street
General Information
Standard status
Active
Size
10,500 SF
Lot size
0.13 Acres
Zoning
R7A/R6B
Units
Unit Mix
12 x 1BR, 6 x 2BR
Multifamily Units
18
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$49,925
Amenities
Bilco Door(s),Common,Full,Unfinished
3
Yes
Bilco Door(s), Common, Full, Unfinished
Public
No
10500
Building Details
Building Size
10,500 SF
Year Built
1920
Buildings
3
Stories
3
Construction
brick
Listing Agency:
(516) 703-2918
Listed By:
Josephine Nicolosi
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:06PM
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 Josephine Nicolosi
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Investment Insights
Based on property information with market context.
The offering comprises three neighboring brick apartment buildings at 234–238 Powers Street, with 18 residences across approximately 10,500 square feet. Built in 1920, the buildings contain six apartments apiece. Each has four one-bedroom units and two two-bedroom units, providing a consistent mix across the portfolio. The properties include a full, unfinished common basement with Bilco door access.
The buildings are near the Grand Street L-train station and Williamsburg retail corridors. The three lots each measure 18.75 by 100 feet, and the properties carry R7A/R6B zoning. Several apartments are rented, while others are vacant or owner-occupied.
The buildings are near the Grand Street L-train station and Williamsburg retail corridors. The three lots each measure 18.75 by 100 feet, and the properties carry R7A/R6B zoning. Several apartments are rented, while others are vacant or owner-occupied.
Key Highlights
- Three adjacent brick apartment buildings at 234–238 Powers Street
- 18 residential units across approximately 10,500 square feet
- Each building has 6 apartments: four 1‑bedroom and two 2‑bedroom units
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 buildings contain one- and two-bedroom apartments near the Grand Street L 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 brick apartment buildings at 234–238 Powers Street; 18 residential units across approximately 10,500 square feet; Each building has 6 apartments: four 1‑bedroom and two 2‑bedroom units
