Four-Story Triplex with Finished
For Sale
$3,000,000
28 Saint Andrews Place, Brooklyn, NY 11216
Brick multifamily property with layered living space, duplex-style design, and access to subway, rail, bus, retail, and neighborhood services.
Property Size3,191 SF
Price / SF$940.14
Days on Market38
Property Features for 28 Saint Andrews Place
General Information
Standard status
Active
Size
3,191 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,868
Building Details
Year Built
2006
Buildings
1
Stories
4
Construction
brick
Listing Agency:
Douglas Elliman Real Estate
(718) 841-9292
Listed By:
Devaykanan Rishudeo (devaykanan.rishudeo@elliman.com)
(718) 755-6515
Source:
Nextlevelhomesgroup
Added: Aug 25
Changed: Sep 28
Last Checked: Oct 1 at 11:03AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located at 28 Saint Andrews Place in Brooklyn, this brick triplex was built in 2006 and rises four stories. The property includes 8 bedrooms, 4 full bathrooms, 2 half bathrooms, duplex-style living arrangements, and a finished basement that adds usable interior space across multiple levels.
The property is positioned near A/C subway service, the LIRR Nostrand Avenue station, and several Brooklyn bus routes. Fulton Street and Nostrand Avenue provide nearby retail, restaurants, schools, parks, and daily conveniences. The configuration supports a range of owner-occupant and rental-oriented strategies without relying on a single-floor layout.
The property is positioned near A/C subway service, the LIRR Nostrand Avenue station, and several Brooklyn bus routes. Fulton Street and Nostrand Avenue provide nearby retail, restaurants, schools, parks, and daily conveniences. The configuration supports a range of owner-occupant and rental-oriented strategies without relying on a single-floor layout.
Key Highlights
- Brick triplex at 28 Saint Andrews Place, Brooklyn, NY 11216
- Four‑story building constructed in 2006
- 8 bedrooms with 4 full bathrooms and 2 half bathrooms
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
$111,754
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
3.73%
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%
$2,235,080
$2.2M
Cap Rate 7%
$1,596,486
$1.6M
Cap Rate 9%
$1,241,711
$1.2M
Market Conditions
NOI Build-Up for 3,191 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
$162.7K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$159.6K $50.03/SF
− OpEx
−$47.9K −$15.01/SF
NOI
$111.8K $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%
$2,235,080
Cap Rate 7%
$1,596,486
Cap Rate 9%
$1,241,711
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.86M
NOI $111,754 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,418 @ 7.0% cap · market cap 3.25%
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $184,950 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Brick multifamily property with layered living space, duplex-style design, and access to subway, rail, bus, retail, and neighborhood services.
Where is this triplex located?
The property is located at 28 Saint Andrews Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Brick triplex at 28 Saint Andrews Place, Brooklyn, NY 11216; Four‑story building constructed in 2006; 8 bedrooms with 4 full bathrooms and 2 half bathrooms
