Six-Unit Brick Apartment
For Sale
$1,999,999
234 Powers Street Unit 6, Brooklyn, NY 11211
Walk-up property near the Grand Street L train entrance with four one-bedroom and two two-bedroom apartments.
Property Size4,290 SF
Price / SF$466.20
Days on Market1577
Property Features for 234 Powers Street Unit 6
General Information
Standard status
Active
Size
4,290 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 1BR, 2 x 2BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,004
Amenities
No, No, None
Full, Unfinished
Near Public Transportation, Other, Park, Public
20
2+ Common Walls
Square Feet
Other/See Remarks, Near Public Transportation
No
Brick
None, Park, Near Public Transportation, Near Public Transit
Building Details
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Sal J Crifasi · License #10301205163
(718) 782-4411
Source:
Compass
Added: Jul 5, 2022
Changed: Oct 26
Last Checked: Oct 28 at 11:58AM
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 Crifasi Real Estate Inc
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Investment Insights
Based on property information with market context.
This 1920 brick walk-up contains six apartments arranged as four one-bedroom units and two two-bedroom units. The layouts are described as non-railroad style, and the building includes a full, unfinished basement. One rear apartment on the first floor is occupied by a rent-stabilized tenant, while the second- and third-floor apartments are vacant. The first-floor front apartment may also be connected to the basement, with access toward the backyard and courtyard.
The property is located at 234 Powers Street in Brooklyn, approximately half a block from the Grand Street L train entrance. The station has an elevator, and the building is near Grand Street shopping and Graham Avenue. The structure measures 18.33 feet wide by 78 feet long and features brick exterior construction.
The property is located at 234 Powers Street in Brooklyn, approximately half a block from the Grand Street L train entrance. The station has an elevator, and the building is near Grand Street shopping and Graham Avenue. The structure measures 18.33 feet wide by 78 feet long and features brick exterior construction.
Key Highlights
- Six‑unit brick apartment building constructed in 1920
- Unit mix includes four 1‑bedroom apartments and two 2‑bedroom apartments
- Approximately half a block from the Grand St L‑train entrance with elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,969
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,619,380
$2.6M
Cap Rate 7%
$1,870,986
$1.9M
Cap Rate 9%
$1,455,211
$1.5M
Market Conditions
NOI Build-Up for 4,290 SF
Gross rent
$243.0K $56.64/SF
− Vacancy
−$4.9K −$1.13/SF
EGI
$238.1K $55.51/SF
− OpEx
−$107.2K −$24.98/SF
NOI
$131.0K $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%
$2,619,380
Cap Rate 7%
$1,870,986
Cap Rate 9%
$1,455,211
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $130,969 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.55M
$3.11M – $4.14M
NOI $248,648 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Walk-up property near the Grand Street L train entrance with four one-bedroom and two two-bedroom apartments.
Where is this apartment building located?
The property is located at 234 Powers Street Unit 6 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Six‑unit brick apartment building constructed in 1920; Unit mix includes four 1‑bedroom apartments and two 2‑bedroom apartments; Approximately half a block from the Grand St L‑train entrance with elevator access
