Duplex Residence with Private
New
For Sale
$1,189,000
245 Nostrand Avenue 2, Brooklyn, NY 11205
A two-level condo combines three bedrooms, an open kitchen and living area, and private outdoor space.
Property Size1,194 SF
Price / SF$995.81
Days on Market7
Property Features for 245 Nostrand Avenue 2
General Information
Standard status
Active
Size
1,194 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,516
Amenities
private terrace
washer/dryer
split heating/AC
Building Details
Building Size
1,194 SF
Year Built
2016
Listing Agency:
Corcoran Group
Listed By:
Sascha Beicken · License #10401275067 (NY)
(917) 596-6785
Source:
Penrealty
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 11 at 10:22AM
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.
This 1,194-square-foot condo is arranged across two levels with three bedrooms and two and a half bathrooms. The lower floor pairs an open kitchen and living room with a separate dining area and powder room with washer and dryer. The primary suite includes a full bathroom with a soaking tub and access to a 200-square-foot private terrace. Two additional bedrooms and another full bathroom occupy the upper level. Features include oak floors, recessed lighting, oversized windows, and individually controlled split heating and air conditioning. Recent work includes new appliances, mini-split systems, and fresh paint.
The property is near the Bedford-Nostrand Avenues G train, with the A and C trains at Nostrand and B44 and B38 bus service nearby. Herbert Von King Park is one block away. Tompkins Avenue shops and restaurants, the Bed-Stuy YMCA, and Kosciuszko Pool are also in the surrounding area.
The property is near the Bedford-Nostrand Avenues G train, with the A and C trains at Nostrand and B44 and B38 bus service nearby. Herbert Von King Park is one block away. Tompkins Avenue shops and restaurants, the Bed-Stuy YMCA, and Kosciuszko Pool are also in the surrounding area.
Key Highlights
- 1,194‑square‑foot condo with three bedrooms and 2.5 bathrooms
- Two‑level layout with an open kitchen and living area, separate dining space, and in‑unit washer and dryer
- 200‑square‑foot private terrace off the primary suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,452
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,040
$729.0K
Cap Rate 7%
$520,743
$520.7K
Cap Rate 9%
$405,022
$405.0K
Market Conditions
NOI Build-Up for 1,194 SF
Gross rent
$67.6K $56.64/SF
− Vacancy
−$1.4K −$1.13/SF
EGI
$66.3K $55.51/SF
− OpEx
−$29.8K −$24.98/SF
NOI
$36.5K $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 Rate 5%
$729,040
Cap Rate 7%
$520,743
Cap Rate 9%
$405,022
Alternative Uses
Best Use
Apartment 5plus
$520.7K
$455.7K – $607.5K
NOI $36,452 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$988.6K
$865.1K – $1.15M
NOI $69,204 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-level condo combines three bedrooms, an open kitchen and living area, and private outdoor space.
Where is this residential income property located?
The property is located at 245 Nostrand Avenue 2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: 1,194‑square‑foot condo with three bedrooms and 2.5 bathrooms; Two‑level layout with an open kitchen and living area, separate dining space, and in‑unit washer and dryer; 200‑square‑foot private terrace off the primary suite
