Gut-Renovated Two-Family
242 ALBANY Ave Brooklyn, NY 11213
For Sale
$2,150,000
Brand new gut-renovated two-family townhouse with a duplex over a garden-level rental unit and private outdoor space.
Property Size2,525 SF
Price / SF$851.49
Days on Market88
Property Features for 242 ALBANY Ave
General Information
- Standard status
- Active
- Size
- 2,525 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1899
Listing Agency:
Listed By:
Anthony Bush
(304) 483-7007
Source:
Elliman
Added: Apr 28
Changed: Jul 22
Last Checked: Jul 23 at 7:05AM
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 Anthony Bush
Investment Insights
Based on property information with market context.
242 Albany Avenue presents a brand new gut-renovated two-family townhouse with a duplex arrangement and an additional garden-level rental unit. The owner’s duplex features wide plank white oak floors, exposed brick elements, and a floating glass staircase as a central design component. The parlor level includes an open living and dining area flowing into a U-shaped kitchen, with double doors leading to a private deck and access to a garden outdoor retreat. Southeast-facing windows bring daylight into the living and kitchen areas.
The second level of the duplex offers nearly ten-foot ceilings, including a primary bedroom with an en suite bathroom with dual sinks, two additional bedrooms, a second full bathroom, and a dedicated laundry station. The lower level includes a versatile recreation room with a half bathroom and substantial storage. The garden level provides a well-appointed two-bedroom, one-bath rental unit with direct access to the backyard.
The property is located on a landmarked block in Crown Heights, with walk and transit access noted by Walk Score 93 and Transit Score 100, and bike accessibility noted by Bike Score 86.
The second level of the duplex offers nearly ten-foot ceilings, including a primary bedroom with an en suite bathroom with dual sinks, two additional bedrooms, a second full bathroom, and a dedicated laundry station. The lower level includes a versatile recreation room with a half bathroom and substantial storage. The garden level provides a well-appointed two-bedroom, one-bath rental unit with direct access to the backyard.
The property is located on a landmarked block in Crown Heights, with walk and transit access noted by Walk Score 93 and Transit Score 100, and bike accessibility noted by Bike Score 86.
Key Highlights
- 1899‑built, two‑family townhouse gut‑renovated with approx. 2,525 interior SF plus 1,214 SF of exterior space
- Duplex features wide plank white oak floors, exposed brick, and a floating glass staircase
- Parlor level open living/dining with a U‑shaped kitchen and southeast‑facing windows for abundant daylight
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.8k | $51.00 |
| − Vacancy | −$2.4k | −$0.97 |
| EGI | $126.3k | $50.03 |
| − OpEx | −$37.9k | −$15.01 |
| NOI | $88.4k | $35.02 |
2,525 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.11M – $1.47M
NOI $88,430 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$1.10M
$963.6K – $1.28M
NOI $77,086 @ 7.0% cap · market cap 3.59%
Theoretical Best
Specialty Retail
$2.09M
$1.83M – $2.44M
NOI $146,349 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
A.C.M.
High School
FAQs
What type of property is this?
Duplex - Brand new gut-renovated two-family townhouse with a duplex over a garden-level rental unit and private outdoor space.
Where is this duplex located?
The property is located at 242 ALBANY Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 1899‑built, two‑family townhouse gut‑renovated with approx. 2,525 interior SF plus 1,214 SF of exterior space; Duplex features wide plank white oak floors, exposed brick, and a floating glass staircase; Parlor level open living/dining with a U‑shaped kitchen and southeast‑facing windows for abundant daylight
