Renovated Duplex with Finished
New
For Sale
$1,695,000
274 Bleecker St TWN, Brooklyn, NY 11237
Two-family townhouse with a finished lower level and private backyard in Bushwick, Brooklyn.
Property Size2,790 SF
Price / SF$605.79
Days on Market3
Property Features for 274 Bleecker St TWN
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,116
Amenities
backyard
Building Details
Building Size
2,790 SF
Year Built
1920
Buildings
1
Units
2
Listed By:
Zachary K Barden
(914) 343-8769
Source:
Elliman
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 5 at 8:27AM
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 Zachary K Barden
Investment Insights
Based on property information with market context.
This renovated duplex townhouse contains 2,798 square feet, with a finished basement and backyard. Built in 1920, the property is configured for two families and offers a townhouse format with additional finished lower-level space.
The property is located at 274 Bleecker St TWN in Bushwick, Brooklyn, NY 11237. WalkScore and bikeScore are both 86, while transitScore is 98, placing the property within a highly walkable, bike-friendly, and transit-oriented setting.
The property is located at 274 Bleecker St TWN in Bushwick, Brooklyn, NY 11237. WalkScore and bikeScore are both 86, while transitScore is 98, placing the property within a highly walkable, bike-friendly, and transit-oriented setting.
Key Highlights
- Renovated two‑family townhouse configuration
- 2,798 Sq Ft building with finished basement
- Private backyard included
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
$97,991
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
5.78%
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%
$1,959,820
$2.0M
Cap Rate 7%
$1,399,871
$1.4M
Cap Rate 9%
$1,088,789
$1.1M
Market Conditions
NOI Build-Up for 2,798 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
$142.7K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$140.0K $50.03/SF
− OpEx
−$42.0K −$15.01/SF
NOI
$98.0K $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%
$1,959,820
Cap Rate 7%
$1,399,871
Cap Rate 9%
$1,088,789
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.22M – $1.63M
NOI $97,991 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,420 @ 7.0% cap · market cap 5.04%
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.70M
NOI $162,172 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
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 - Two-family townhouse with a finished lower level and private backyard in Bushwick, Brooklyn.
Where is this duplex located?
The property is located at 274 Bleecker St TWN Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Renovated two‑family townhouse configuration; 2,798 Sq Ft building with finished basement; Private backyard included
