Landmarked Limestone 8-Unit
243 New York Avenue Brooklyn, NY 11216
For Sale
$3,750,000
Landmarked limestone multifamily building featuring large layouts, high ceilings, and a windowed basement.
Property Size11,277 SF
Price / SF$332.54
Days on Market68
Property Features for 243 New York Avenue
General Information
- Standard status
- Active
- Size
- 11,277 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1906
Listing Agency:
Compass
(203) 858-5789
Listed By:
Ian Mednick · License #10401308254
(203) 858-5789
Source:
Compass
Added: May 18
Changed: Jul 23
Last Checked: Jul 23 at 10:17AM
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 Compass
Investment Insights
Based on property information with market context.
243 New York Avenue is a landmarked limestone multifamily building with an 8-unit configuration. The property features original detail, towering ceiling height, and abundant natural light throughout. Measuring approximately 40 feet wide and 80 feet deep, the building totals 11,277 square feet, with an additional 2,800 square feet windowed basement that could be used as recreational space. The offering will be delivered with 6 vacancies, giving the opportunity to adjust unit layouts after closing.
The property is located in Crown Heights, with nearby amenities and express subway lines.
For buyers seeking additional financial information, an offering memorandum is available upon request. Please contact the listing agent for details; potential buyers are not to contact the landlord or tenants.
The property is located in Crown Heights, with nearby amenities and express subway lines.
For buyers seeking additional financial information, an offering memorandum is available upon request. Please contact the listing agent for details; potential buyers are not to contact the landlord or tenants.
Key Highlights
- 8‑unit multifamily building with 40‑ft width and 80‑ft depth
- Landmarked limestone building with original details, high ceilings, and abundant natural light
- Total building size of 11,277 SF
Financial Insights For Apartment 5plus
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 | $638.7k | $56.64 |
| − Vacancy | −$12.8k | −$1.13 |
| EGI | $626.0k | $55.51 |
| − OpEx | −$281.7k | −$24.98 |
| NOI | $344.3k | $30.53 |
11,277 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.92M
$4.30M – $5.74M
NOI $344,275 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.34M
$8.17M – $10.89M
NOI $653,615 @ 7.0% cap · market cap 17.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Landmarked limestone multifamily building featuring large layouts, high ceilings, and a windowed basement.
Where is this apartment building located?
The property is located at 243 New York Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 8‑unit multifamily building with 40‑ft width and 80‑ft depth; Landmarked limestone building with original details, high ceilings, and abundant natural light; Total building size of 11,277 SF
