Renovated Five-Unit Apartment
For Sale
$4,499,999
256 JEFFERSON Avenue, Brooklyn, NY 11216
Five-story residential property with one apartment per floor, preserved period details, updated systems, and private outdoor areas.
Property Size5,200 SF
Price / SF$865.38
Days on Market12
Property Features for 256 JEFFERSON Avenue
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$15,984
Amenities
garden
private deck
in-unit washer/dryer
custom window shades
Fios readiness
Building Details
Building Size
5,200 SF
Year Built
1900
Buildings
1
Stories
5
Construction
brownstone
Listing Agency:
Serhant
Listed By:
Jason L Baker
(850) 321-2288
Source:
Penrealty
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 1:29PM
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 Serhant
Investment Insights
Based on property information with market context.
This fully renovated five-unit apartment building contains five full stories and approximately 5,200 SF, with one residence on each floor. The 20-foot-wide brownstone retains decorative fireplace mantels, tilework, pocket doors, crown moldings, stained-glass windows, and a restored period facade. Modern improvements include new plumbing and electrical systems, Mitsubishi multi-zone heat-pump HVAC, in-unit washers and dryers, individually controlled heating and cooling, custom window shades, and Fios readiness.
Outdoor features include a renovated garden with bluestone paving and cedar fencing, plus a private third-floor deck with skyline views. The property also includes a 1,200 SF cellar that offers additional storage space and future finishing potential. Located on Jefferson Avenue within the Bedford Historic District, the building is near neighborhood restaurants, bars, cafés, and other amenities. The A and C trains at Nostrand Avenue are described as a 5 minute stroll away, with approximately 20-minute access to lower Manhattan.
Outdoor features include a renovated garden with bluestone paving and cedar fencing, plus a private third-floor deck with skyline views. The property also includes a 1,200 SF cellar that offers additional storage space and future finishing potential. Located on Jefferson Avenue within the Bedford Historic District, the building is near neighborhood restaurants, bars, cafés, and other amenities. The A and C trains at Nostrand Avenue are described as a 5 minute stroll away, with approximately 20-minute access to lower Manhattan.
Key Highlights
- Five‑story, five‑unit apartment building with approximately 5,200 SF
- 20‑foot‑wide brownstone with one residence per floor
- Fully renovated with new plumbing, electrical, and Mitsubishi multi‑zone heat‑pump HVAC systems
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
$158,751
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
3.53%
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%
$3,175,020
$3.2M
Cap Rate 7%
$2,267,871
$2.3M
Cap Rate 9%
$1,763,900
$1.8M
Market Conditions
NOI Build-Up for 5,200 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
$294.5K $56.64/SF
− Vacancy
−$5.9K −$1.13/SF
EGI
$288.6K $55.51/SF
− OpEx
−$129.9K −$24.98/SF
NOI
$158.8K $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%
$3,175,020
Cap Rate 7%
$2,267,871
Cap Rate 9%
$1,763,900
Alternative Uses
Best Use
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,751 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.31M
$3.77M – $5.02M
NOI $301,392 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,055
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
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?
Apartment building - Five-story residential property with one apartment per floor, preserved period details, updated systems, and private outdoor areas.
Where is this apartment building located?
The property is located at 256 JEFFERSON Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,499,999.
What are key features of this property?
This property features: Five‑story, five‑unit apartment building with approximately 5,200 SF; 20‑foot‑wide brownstone with one residence per floor; Fully renovated with new plumbing, electrical, and Mitsubishi multi‑zone heat‑pump HVAC systems
