Prewar Apartment Building with Roof
For Sale
$8,500,000
236 6th Ave, Brooklyn, NY 11215
Renovated owner’s duplex combines townhome character with expansive loft-like living space.
Property Size8,217 SF
Days on Market10
Property Features for 236 6th Ave
General Information
Standard status
Active
Size
8,217 SF
Property subtype
Multi Family
Additional Details
Unit Mix
4 x 1BR, 1 x duplex (4BR/3BA)
Taxes and HOA fees
Annual Taxes
$30,276
Amenities
roof deck
rear garden
Building Details
Building Size
8,217 SF
Year Built
1920
Buildings
1
Listing Agency:
(212) 334-3011
Listed By:
JASON P BAUER
(212) 334-3011
Source:
Elliman
Added: Aug 21
Changed: Aug 24
Last Checked: Aug 29 at 10:35AM
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 JASON P BAUER
Investment Insights
Based on property information with market context.
This 1920 prewar apartment building includes an owner’s duplex spanning the parlor and second floor, configured with four bedrooms and three baths. The residence has a custom kitchen, marble-floored bathrooms with Italian fixtures, wide-plank hardwood floors, radiant heat, and central heating and air conditioning. The third and fourth floors each contain two oversized one-bedroom apartments, with layouts that can remain separate, be reconfigured, or be combined into full-floor condominiums.
A finished roof deck provides panoramic Brooklyn views and common-area use. Additional improvements include basement utility and storage space with private closets, a small rear garden, a new roof and parapet, upgraded mechanical systems, custom landmark windows, and a maintained boiler. The property may be delivered vacant except for one rent-stabilized unit or partially occupied by long-term near-market tenants.
The building is located at 236 6th Ave in Brooklyn, with a bike score of 91, a walk score of 100, and a transit score of 100.
A finished roof deck provides panoramic Brooklyn views and common-area use. Additional improvements include basement utility and storage space with private closets, a small rear garden, a new roof and parapet, upgraded mechanical systems, custom landmark windows, and a maintained boiler. The property may be delivered vacant except for one rent-stabilized unit or partially occupied by long-term near-market tenants.
The building is located at 236 6th Ave in Brooklyn, with a bike score of 91, a walk score of 100, and a transit score of 100.
Key Highlights
- Owner’s duplex spans the parlor and second floor with 4 bedrooms and 3 baths
- Four oversized 1‑bedroom apartments across the third and fourth floors
- Finished roof deck with panoramic Brooklyn views
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
$250,856
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
2.95%
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%
$5,017,120
$5.0M
Cap Rate 7%
$3,583,657
$3.6M
Cap Rate 9%
$2,787,289
$2.8M
Market Conditions
NOI Build-Up for 8,217 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
$465.4K $56.64/SF
− Vacancy
−$9.3K −$1.13/SF
EGI
$456.1K $55.51/SF
− OpEx
−$205.2K −$24.98/SF
NOI
$250.9K $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%
$5,017,120
Cap Rate 7%
$3,583,657
Cap Rate 9%
$2,787,289
Alternative Uses
Best Use
Apartment 5plus
$3.58M
$3.14M – $4.18M
NOI $250,856 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.80M
$5.95M – $7.94M
NOI $476,257 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
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 - Renovated owner’s duplex combines townhome character with expansive loft-like living space.
Where is this apartment building located?
The property is located at 236 6th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Owner’s duplex spans the parlor and second floor with 4 bedrooms and 3 baths; Four oversized 1‑bedroom apartments across the third and fourth floors; Finished roof deck with panoramic Brooklyn views
