Four-Story Duplex with Central
For Sale
$2,650,000
Pending
264 Decatur Street, Brooklyn, NY 11233
MULTI_FAMILY - Brooklyn, NY
Property Size4,400 SF
Lot Size0.05 Acres
Days on Market193
Property Features for 264 Decatur Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Basement, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 1
Parking features
On Street
Interior features
First Floor Bedroom, First Floor Full Bath
Basement
Full, Unfinished
Elementary school
Ps 262 El Hajj Malik El Shabazz
Middle school
Ms 35 Stephen Decatur
High school
Boys And Girls High School
Elementary school district
Brooklyn 16
Middle school district
Brooklyn 16
High school district
Brooklyn 16
Directions
Atlantic Ave to Troy Ave to Lewis Ave to Decatur St
Standard status
Pending
APN
01680-0026
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8041
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Hot Water(Heating), Forced Air
Cooling system
Ductless, Central Air
Water source
Public
Amenities
exterior balcony
spiral staircase
central air conditioning
ductless units
pocket parlor doors
Building Details
Year built
1899
Number of units
2
Flooring type
Wood
Building materials
Brick, Stone
Listing Agency:
Douglas Elliman Real Estate
(516) 354-6500
Listed By:
Charles V. Maione · License #30MA0969498
(516) 984-5596
Added: Feb 2
Changed: Aug 1
Last Checked: Aug 14 at 12:06AM
MLS# 957955
Copyright © 2026 OneKey MLS. 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 four-story, two-family duplex at 264 Decatur Street features a limestone barrel front and is located within the Stuyvesant Heights Historical Landmark section. The home’s original wood trim, molding, and pocket parlor doors are highlighted by interior details and configuration across the 1st through 4th floors. The property includes five bedrooms and four bathrooms, plus a rear basement with an almost 9 FT high cellar for storage, utilities, and additional laundry space.
The 1st unit is described as a garden level with a foyer, hallway, dining room, new eat-in kitchen, laundry, and a rear extension on the suite bedroom with a full bath. The 2nd unit spans the parlor, 3rd, and 4th floors, with a main parlor entrance leading to a foyer, hallway, living room, den, and sitting room. It also includes updated on-suite full bath and a rear bedroom extension with an exterior balcony and spiral staircase down to the yard. The heating system is described as gas forced hot air for the original space, with Navien hot water for the extensions.
Cooling is described as whole-house central air with ductwork supported by ductless units on the upper floors. The property was built in 1899 and is served by public water and public sewer, with cable available, and on-street parking. It is located in a residential area and is convenient to the Utica Avenue A C subway.
The 1st unit is described as a garden level with a foyer, hallway, dining room, new eat-in kitchen, laundry, and a rear extension on the suite bedroom with a full bath. The 2nd unit spans the parlor, 3rd, and 4th floors, with a main parlor entrance leading to a foyer, hallway, living room, den, and sitting room. It also includes updated on-suite full bath and a rear bedroom extension with an exterior balcony and spiral staircase down to the yard. The heating system is described as gas forced hot air for the original space, with Navien hot water for the extensions.
Cooling is described as whole-house central air with ductwork supported by ductless units on the upper floors. The property was built in 1899 and is served by public water and public sewer, with cable available, and on-street parking. It is located in a residential area and is convenient to the Utica Avenue A C subway.
Key Highlights
- Stuyvesant Heights Historical Landmark section with limestone barrel front and original wood trim details
- Four‑story, two‑family layout with 5 bedrooms and 4 bathrooms
- 11 FT ceilings and wood flooring throughout with pocket parlor doors
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
$154,095
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
5.81%
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%
$3,081,900
$3.1M
Cap Rate 7%
$2,201,357
$2.2M
Cap Rate 9%
$1,712,167
$1.7M
Market Conditions
NOI Build-Up for 4,400 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
$224.4K $51.00/SF
− Vacancy
−$4.3K −$0.97/SF
EGI
$220.1K $50.03/SF
− OpEx
−$66.0K −$15.01/SF
NOI
$154.1K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,081,900
Cap Rate 7%
$2,201,357
Cap Rate 9%
$1,712,167
Alternative Uses
Best Use
Multifamily LT 5
$2.20M
$1.93M – $2.57M
NOI $154,095 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,327 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$3.64M
$3.19M – $4.25M
NOI $255,024 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Historic 2-family duplex features 11-foot ceilings, central and ductless cooling, and updated kitchen and baths.
Where is this duplex located?
The property is located at 264 Decatur Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Stuyvesant Heights Historical Landmark section with limestone barrel front and original wood trim details; Four‑story, two‑family layout with 5 bedrooms and 4 bathrooms; 11 FT ceilings and wood flooring throughout with pocket parlor doors
