Six-Story Elevator Mixed-Use
For Sale
Contact for pricing
2708-2718 Church Ave, Brooklyn, NY 11226
Completed in 2024, the property combines residential, commercial, and community-oriented space.
Property Size84,837 SF
Price / SF$660.09
Days on Market13
Property Features for 2708-2718 Church Ave
General Information
Standard status
Active
Size
84,837 SF
Total Parking Spaces
35
Elevators
Yes
Property subtype
Multifamily, Retail
Zoning
R6, C2-3, C1-3
Net Operating Income
$4,048,350
Additional Details
Public Transit
Yes
Multifamily Units
69
Amenities
gym
bike room
virtual doorman
recreation center
central laundry
secure storage
roof deck
wraparound terrace
Building Details
Year Built
2024
Buildings
1
Stories
6
Units
69
Tenancy
Multi
Listing Agency:
Alpha Realty NY
Listed By:
Lev Mavashev · License #NY 10351208812
Source:
Crexi
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 2:33PM
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 Alpha Realty NY
Investment Insights
Based on property information with market context.
Completed in 2024, this elevator-served mixed-use property contains 69 residential apartments, 2 commercial spaces, and a dedicated community facility. The six-story building also includes 35 on-site parking spaces, a state-of-the-art gym, bike room, virtual doorman system, recreation center, central laundry, secure storage, roof deck, and wraparound terrace.
The property is located at 2708-2718 Church Ave in Brooklyn, with the Church Avenue subway station within short walking distance. Zoning is identified as R6, C2-3, and C1-3. A 35-year Affordable NY Tax Abatement is in place, with the residential component comprising 70% free-market units and 30% affordable housing.
The property is located at 2708-2718 Church Ave in Brooklyn, with the Church Avenue subway station within short walking distance. Zoning is identified as R6, C2-3, and C1-3. A 35-year Affordable NY Tax Abatement is in place, with the residential component comprising 70% free-market units and 30% affordable housing.
Key Highlights
- 69 residential apartments, 2 commercial spaces, and a dedicated community facility
- 35‑year Affordable NY Tax Abatement
- 70% free‑market units and 30% affordable housing
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
$1,988,851
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
3.55%
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%
$39,777,020
$39.8M
Cap Rate 7%
$28,412,157
$28.4M
Cap Rate 9%
$22,098,344
$22.1M
Market Conditions
NOI Build-Up for 84,837 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
$3.77M $44.40/SF
− Vacancy
−$150.7K −$1.78/SF
EGI
$3.62M $42.62/SF
− OpEx
−$1.63M −$19.18/SF
NOI
$1.99M $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /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%
$39,777,020
Cap Rate 7%
$28,412,157
Cap Rate 9%
$22,098,344
Alternative Uses
Best Use
Apartment 5plus
$28.41M
$24.86M – $33.15M
NOI $1,988,851 @ 7.0% cap · market cap 3.55%
Second Best
Mixed Use
$26.91M
$23.54M – $31.39M
NOI $1,883,381 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$41.93M
$36.69M – $48.92M
NOI $2,935,224 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
69
Residential units
Location Intelligence
Trade Area within ½ mile
6,725
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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?
Mixed-use property - Completed in 2024, the property combines residential, commercial, and community-oriented space.
Where is this mixed-use property located?
The property is located at 2708-2718 Church Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $56,000,000.
What are key features of this property?
This property features: 69 residential apartments, 2 commercial spaces, and a dedicated community facility; 35‑year Affordable NY Tax Abatement; 70% free‑market units and 30% affordable housing
