Renovated Six-Family Apartment
For Sale
$2,199,000
264 67th Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size5,082 SF
Lot Size0.05 Acres
Price / SF$432.70
Days on Market593
Property Features for 264 67th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
13
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 10, Bathroom 2, Bedroom 12, Bathroom 5, Bedroom 8, Bedroom 13, Bedroom 7, Bathroom 3, Bedroom 4, Bedroom 6, Bedroom 9, Bedroom 5, Bathroom 6, Bathroom 1, Bedroom 11
Interior features
A/C Unit - Wall, Dishwasher, Laundry Area, Refrigerator, Stove
Basement
Full
Subdivision
Bay Ridge
Standard status
Active
Size
5,082 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
17368
Amenities
stainless steel appliances
modern kitchens
hardwood floors
modern bathrooms
built-in closets
skylights
exposed brick walls
washer/dryer hookups
basement access
backyard access
Building Details
Floors in Building
3
Number of units
6
Flooring type
Hardwood, Ceramic
Building materials
Block, Brick
Roof type
Rubber
Listing Agency:
Maximillion Realty, Inc.
Listed By:
Boris Tansky
(718) 376-9300
Added: Feb 18, 2025
Changed: Sep 30
Last Checked: Oct 4 at 7:06AM
MLS# 489316
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,082-square-foot multifamily building contains six apartments, including five two-bedroom units and one three-bedroom unit. The interiors have been comprehensively updated with contemporary kitchens, stainless steel appliances, dishwashers, refrigerators, stoves, hardwood and ceramic flooring, modern bathrooms, built-in closets, skylights, and exposed brick details. Each apartment includes washer and dryer hookups, while wall-mounted A/C units are provided. First-floor apartments connect to basement space and offer backyard access.
The property has separate water, gas, and electric meters for each apartment, with tenants responsible for their own heat, gas, and electricity. Plumbing, electrical systems, and fuse boxes have also been replaced. Constructed with block and brick materials, the building has a rubber roof and is located at 264 67th Street in Brooklyn, NY 11220.
The property has separate water, gas, and electric meters for each apartment, with tenants responsible for their own heat, gas, and electricity. Plumbing, electrical systems, and fuse boxes have also been replaced. Constructed with block and brick materials, the building has a rubber roof and is located at 264 67th Street in Brooklyn, NY 11220.
Key Highlights
- 5,082 square feet with six apartments
- Unit mix includes five two‑bedroom apartments and one three‑bedroom apartment
- Updated kitchens, bathrooms, flooring, closets, skylights, and exposed brick details
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
$135,520
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
6.16%
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%
$2,710,400
$2.7M
Cap Rate 7%
$1,936,000
$1.9M
Cap Rate 9%
$1,505,778
$1.5M
Market Conditions
NOI Build-Up for 5,082 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
$256.1K $50.40/SF
− Vacancy
−$9.7K −$1.92/SF
EGI
$246.4K $48.48/SF
− OpEx
−$110.9K −$21.82/SF
NOI
$135.5K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$2,710,400
Cap Rate 7%
$1,936,000
Cap Rate 9%
$1,505,778
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.69M – $2.26M
NOI $135,520 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,617 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied two- and three-bedroom layouts, separate utility meters, and basement and backyard access.
Where is this apartment building located?
The property is located at 264 67th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: 5,082 square feet with six apartments; Unit mix includes five two‑bedroom apartments and one three‑bedroom apartment; Updated kitchens, bathrooms, flooring, closets, skylights, and exposed brick details
