Pre-War 10-Unit Apartment
For Sale
$5,000,000
279 HENRY St, Brooklyn, NY 11201
Pre-war 5-story building with 10 units, including one vacant unit, and a mix of one- and two-bedroom layouts.
Property Size2,312 SF
Price / SF$758.27
Days on Market145
Property Features for 279 HENRY St
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$64,884
Building Details
Building Size
2,312 SF
Year Built
1900
Stories
4
Units
10
Listing Agency:
575 Madison Ave
Listed By:
Stephen Gallagher · License #40GA0917788
(212) 909-7993
Source:
Elliman
Added: Jun 3
Changed: Oct 23
Last Checked: Oct 24 at 6:53PM
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 575 Madison Ave
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Investment Insights
Based on property information with market context.
This pre-war, 5-story, 10-unit apartment building totals approximately 6,594 square feet. The property includes eight one-bedroom units and two two-bedroom units, with nine units reported as free market and one rent stabilized. One unit is currently vacant and ready for immediate use or renovation.
The asset is located on a highly sought-after block in Brooklyn Heights. WalkScore and transitScore indicate strong pedestrian and transit accessibility.
As configured, the building offers a straightforward mix of one- and two-bedroom apartments within a small multifamily footprint, with vacancy providing flexibility for either immediate occupancy or planned improvements.
The asset is located on a highly sought-after block in Brooklyn Heights. WalkScore and transitScore indicate strong pedestrian and transit accessibility.
As configured, the building offers a straightforward mix of one- and two-bedroom apartments within a small multifamily footprint, with vacancy providing flexibility for either immediate occupancy or planned improvements.
Key Highlights
- Pre‑war 5‑story, 10‑unit building with approx. 6,594 SF
- Unit mix: 8 one‑bedroom units and 2 two‑bedroom units
- Includes 1 vacant unit, ready for immediate use or renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,308
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,026,160
$4.0M
Cap Rate 7%
$2,875,829
$2.9M
Cap Rate 9%
$2,236,756
$2.2M
Market Conditions
NOI Build-Up for 6,594 SF
Gross rent
$373.5K $56.64/SF
− Vacancy
−$7.5K −$1.13/SF
EGI
$366.0K $55.51/SF
− OpEx
−$164.7K −$24.98/SF
NOI
$201.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,026,160
Cap Rate 7%
$2,875,829
Cap Rate 9%
$2,236,756
Alternative Uses
Best Use
Apartment 5plus
$2.88M
$2.52M – $3.36M
NOI $201,308 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.46M
$4.78M – $6.37M
NOI $382,188 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
9,891
Businesses Nearby
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Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Pre-war 5-story building with 10 units, including one vacant unit, and a mix of one- and two-bedroom layouts.
Where is this apartment building located?
The property is located at 279 HENRY St Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Pre‑war 5‑story, 10‑unit building with approx. 6,594 SF; Unit mix: 8 one‑bedroom units and 2 two‑bedroom units; Includes 1 vacant unit, ready for immediate use or renovation
