Detached Two-Family
For Sale
$2,588,000
266 83rd Street, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property Size3,250 SF
Lot Size0.11 Acres
Price / SF$796.31
Days on Market10
Property Features for 266 83rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bathroom 5
Parking features
Garage - Detached
Interior features
Central Air
Basement
Full, Finished
Subdivision
Bay Ridge
Standard status
Active
Size
3,250 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
17511
Amenities
large peaceful backyard
lots of closets
beautiful hardwood floors
fully finished basement
large front balcony
back balcony
Building Details
Year built
1901
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
Wood Frame
Listing Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
Charles A. Fabbella
(718) 238-6080
Added: Aug 3
Last Checked: Aug 12 at 8:06AM
MLS# 503478
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.
Located at 266 83rd Street in Brooklyn, this detached two-family property provides 3,250 square feet of living space on a 0.1148-acre lot measuring 50 x 100 feet. The home measures 25 x 50 feet and was built in 1901. Its configuration includes six bedrooms and five bathrooms, with the two family residences offering distinct room layouts and balcony access.
Interior features include central air, hardwood flooring, abundant closet space, and a fully finished basement. Exterior improvements include a wide private driveway, an extra-large detached garage, and a backyard. The property is identified as R2 zoning and is situated in Bay Ridge, Brooklyn.
Interior features include central air, hardwood flooring, abundant closet space, and a fully finished basement. Exterior improvements include a wide private driveway, an extra-large detached garage, and a backyard. The property is identified as R2 zoning and is situated in Bay Ridge, Brooklyn.
Key Highlights
- Detached two‑family property with 3,250 square feet of living space
- 0.1148‑acre lot measuring 50 x 100 feet
- Six bedrooms and five bathrooms across the property
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
$113,821
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
4.40%
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%
$2,276,420
$2.3M
Cap Rate 7%
$1,626,014
$1.6M
Cap Rate 9%
$1,264,678
$1.3M
Market Conditions
NOI Build-Up for 3,250 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
$165.8K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$162.6K $50.03/SF
− OpEx
−$48.8K −$15.01/SF
NOI
$113.8K $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%
$2,276,420
Cap Rate 7%
$1,626,014
Cap Rate 9%
$1,264,678
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.42M – $1.90M
NOI $113,821 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,219 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.14M
NOI $188,370 @ 7.0% cap · market cap 7.28%
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
4,591
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property with separate family accommodations, private outdoor areas, central air, and detached garage parking.
Where is this duplex located?
The property is located at 266 83rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,588,000.
What are key features of this property?
This property features: Detached two‑family property with 3,250 square feet of living space; 0.1148‑acre lot measuring 50 x 100 feet; Six bedrooms and five bathrooms across the property
