8-Unit Brownstone
For Sale
Contact for pricing
288 New York Avenue, Brooklyn, NY 11216
Well-maintained 8-unit brownstone multifamily property listed for sale in Brooklyn.
Property Size3,800 SF
Price / SF$407.89
Days on Market103
Property Features for 288 New York Avenue
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Retail, Multifamily
Occupancy
88%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$123,000
Additional Details
Multifamily Units
8
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Revived Commercial
(929) 379-3750
Listed By:
Elysa Berlin · License #10301219469
Source:
Crexi
Added: Apr 29
Changed: Aug 8
Last Checked: Aug 9 at 2:58PM
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 Revived Commercial
Investment Insights
Based on property information with market context.
This offering is an 8-unit brownstone style multifamily building, presented as a residential income property for sale. The property is described in public remarks as being on the “best block,” and it is available under the current listing terms.
The address is 288 New York Avenue in Brooklyn, New York (11216). No additional details on unit mix, amenities, or interior layout were provided in the available information, but the building’s configuration as eight separate units is the primary confirmed characteristic.
At 8 units, this asset may be of interest to buyers seeking a small multifamily brownstone structure with an existing income-generating layout. Please contact the listing broker for additional information beyond what is currently provided.
The address is 288 New York Avenue in Brooklyn, New York (11216). No additional details on unit mix, amenities, or interior layout were provided in the available information, but the building’s configuration as eight separate units is the primary confirmed characteristic.
At 8 units, this asset may be of interest to buyers seeking a small multifamily brownstone structure with an existing income-generating layout. Please contact the listing broker for additional information beyond what is currently provided.
Key Highlights
- Well‑maintained 8‑unit brownstone multifamily property for sale in Brooklyn
- Brownstone style building
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
$116,010
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
7.48%
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%
$2,320,200
$2.3M
Cap Rate 7%
$1,657,286
$1.7M
Cap Rate 9%
$1,289,000
$1.3M
Market Conditions
NOI Build-Up for 3,800 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
$215.2K $56.64/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$210.9K $55.51/SF
− OpEx
−$94.9K −$24.98/SF
NOI
$116.0K $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 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%
$2,320,200
Cap Rate 7%
$1,657,286
Cap Rate 9%
$1,289,000
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $116,010 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.15M
$2.75M – $3.67M
NOI $220,248 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
6,039
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 8-unit brownstone multifamily property listed for sale in Brooklyn.
Where is this apartment building located?
The property is located at 288 New York Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Well‑maintained 8‑unit brownstone multifamily property for sale in Brooklyn; Brownstone style building
