One-Bedroom Residential Income
For Sale
$680,000
24 FAYETTE Street 4A, Brooklyn, NY 11206
Boutique condominium residence with modern finishes, substantial storage, and access to shared rooftop and fitness amenities.
Property Size664 SF
Price / SF$1,024
Days on Market20
Property Features for 24 FAYETTE Street 4A
General Information
Standard status
Active
Size
664 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
rooftop terrace
fitness center
bicycle storage
smartphone video intercom system
private storage unit
central heating and cooling
in-unit washer/dryer
Building Details
Building Size
664 SF
Listing Agency:
Corcoran Group
(646) 483-8600
Listed By:
Daniel Kandinov · License #10401279436 (NY)
(646) 483-8600
Source:
Cbwarburg
Added: Jul 27
Changed: Aug 14
Last Checked: Aug 14 at 12:40PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Residence 4A is a 664-square-foot one-bedroom home within a seven-residence elevator condominium at 24 Fayette Street. The interior includes an open living and dining area, contemporary kitchen with quartz surfaces and an island, a separate bedroom with closet space, a full bathroom, entry and linen closets, wide-plank oak flooring, central heating and cooling, and an in-unit washer and dryer. Oversized street-facing windows provide natural light.
Building amenities include a rooftop terrace, fitness center with cardio and strength equipment, bicycle storage, smartphone video intercom, elevator service, and a private storage unit for each residence. The property is in Bushwick, Brooklyn, with access to the J and M subway lines.
Building amenities include a rooftop terrace, fitness center with cardio and strength equipment, bicycle storage, smartphone video intercom, elevator service, and a private storage unit for each residence. The property is in Bushwick, Brooklyn, with access to the J and M subway lines.
Key Highlights
- 664 SF one‑bedroom residence at 24 Fayette Street, Residence 4A
- Boutique elevator condominium with 7 residences
- Open living and dining area extending nearly 18 feet
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
$20,271
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
2.98%
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%
$405,420
$405.4K
Cap Rate 7%
$289,586
$289.6K
Cap Rate 9%
$225,233
$225.2K
Market Conditions
NOI Build-Up for 664 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
$37.6K $56.64/SF
− Vacancy
−$752 −$1.13/SF
EGI
$36.9K $55.51/SF
− OpEx
−$16.6K −$24.98/SF
NOI
$20.3K $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%
$405,420
Cap Rate 7%
$289,586
Cap Rate 9%
$225,233
Alternative Uses
Best Use
Apartment 5plus
$289.6K
$253.4K – $337.9K
NOI $20,271 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$549.8K
$481.1K – $641.4K
NOI $38,485 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Boutique condominium residence with modern finishes, substantial storage, and access to shared rooftop and fitness amenities.
Where is this residential income property located?
The property is located at 24 FAYETTE Street 4A Brooklyn, NY.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 664 SF one‑bedroom residence at 24 Fayette Street, Residence 4A; Boutique elevator condominium with 7 residences; Open living and dining area extending nearly 18 feet
