Three-Unit Brick
New
For Sale
$1,699,000
24 Bay 47th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size2,442 SF
Lot Size0.04 Acres
Price / SF$695.74
Days on Market2
Property Features for 24 Bay 47th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4
Interior features
A/C Unit, Refrigerator, Stove
Basement
Full, Unfinished
Subdivision
Gravesend
Standard status
Active
Size
2,442 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
9704
Building Details
Year built
1997
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Juan (Angela) Liu
(646) 407-6668
Added: Oct 6
Last Checked: Oct 7 at 9:06AM
MLS# 505103
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,442-square-foot brick triplex was built in 1997 and contains three residential floors, each arranged as a two-bedroom, one-bath apartment. A basement with its own entrance adds another full bathroom. The property will be delivered vacant, and its listed interior features include a refrigerator, stove, and A/C unit, with tile and hardwood flooring.
The 0.0413-acre lot includes a private driveway with two parking spaces. The property is in Brooklyn, NY, with access to B1, B4, and B64 bus routes and the N and D subway lines. Nearby parks and schools are also noted.
The 0.0413-acre lot includes a private driveway with two parking spaces. The property is in Brooklyn, NY, with access to B1, B4, and B64 bus routes and the N and D subway lines. Nearby parks and schools are also noted.
Key Highlights
- Three apartments, each with two bedrooms and one bathroom
- 2,442 square feet; 0.0413‑acre lot
- Brick construction; built in 1997
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,605
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,332,100
$1.3M
Cap Rate 7%
$951,500
$951.5K
Cap Rate 9%
$740,056
$740.1K
Market Conditions
NOI Build-Up for 2,442 SF
Gross rent
$99.6K $40.80/SF
− Vacancy
−$4.5K −$1.84/SF
EGI
$95.2K $38.96/SF
− OpEx
−$28.5K −$11.69/SF
NOI
$66.6K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,332,100
Cap Rate 7%
$951,500
Cap Rate 9%
$740,056
Alternative Uses
Best Use
Multifamily LT 5
$951.5K
$832.6K – $1.11M
NOI $66,605 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$852.8K
$746.2K – $994.9K
NOI $59,693 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,718 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant delivery includes three two-bedroom apartments and a basement with a separate entrance.
Where is this triplex located?
The property is located at 24 Bay 47th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Three apartments, each with two bedrooms and one bathroom; 2,442 square feet; 0.0413‑acre lot; Brick construction; built in 1997
