Brick Four-Family
New
For Sale
$2,500,000
288 Sumpter Street, Brooklyn, NY 11233
Residential, Brooklyn, NY
Property Size7,468 SF
Lot Size0.06 Acres
Price / SF$334.76
Days on Market6
Property Features for 288 Sumpter Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2
Patio and Porch features
Patio
Interior features
Patio Garden
Basement
Full, Unfinished
Subdivision
Bedford Stuyvesant
Standard status
Active
Size
7,468 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
10557
Amenities
private backyard
Building Details
Year built
1912
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Faig Mikayilov · License #10301220271
(718) 612-3088
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 24 at 11:06AM
MLS# 503929
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This semi-detached brick quadplex contains four residential apartments arranged with one unit on each floor. Each apartment is approximately 1,400 square feet and includes three bedrooms and one bathroom. The building offers hardwood flooring, a full unfinished basement, a flat roof, and a private backyard reached from the first-floor apartment. Built in 1912, the property occupies a 0.0612-acre lot and contains 7,468 square feet of property size. Zoning is R6.
Located in Brooklyn’s Bedford-Stuyvesant area, the property is near public transportation, shopping, dining, and neighborhood amenities. The address is 288 Sumpter Street, Brooklyn, NY 11233. The existing four-family configuration provides a defined multifamily layout, while any condominium conversion or other development would remain subject to required city approvals.
Located in Brooklyn’s Bedford-Stuyvesant area, the property is near public transportation, shopping, dining, and neighborhood amenities. The address is 288 Sumpter Street, Brooklyn, NY 11233. The existing four-family configuration provides a defined multifamily layout, while any condominium conversion or other development would remain subject to required city approvals.
Key Highlights
- Four‑family building with one apartment on each floor
- Each apartment is approximately 1,400 square feet with 3 bedrooms and 1 bathroom
- Semi‑detached brick construction with hardwood flooring
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
$227,990
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
9.12%
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%
$4,559,800
$4.6M
Cap Rate 7%
$3,257,000
$3.3M
Cap Rate 9%
$2,533,222
$2.5M
Market Conditions
NOI Build-Up for 7,468 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
$423.0K $56.64/SF
− Vacancy
−$8.5K −$1.13/SF
EGI
$414.5K $55.51/SF
− OpEx
−$186.5K −$24.98/SF
NOI
$228.0K $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%
$4,559,800
Cap Rate 7%
$3,257,000
Cap Rate 9%
$2,533,222
Alternative Uses
Best Use
Multifamily LT 5
$3.74M
$3.27M – $4.36M
NOI $261,542 @ 7.0% cap · market cap 10.46%
Second Best
Apartment 5plus
$3.26M
$2.85M – $3.80M
NOI $227,990 @ 7.0% cap · market cap 9.12%
Theoretical Best
Specialty Retail
$6.18M
$5.41M – $7.21M
NOI $432,845 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,963
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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?
Quadplex - Semi-detached walk-up with one apartment per floor, a full basement, and backyard access from the first-floor residence.
Where is this quadplex located?
The property is located at 288 Sumpter Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four‑family building with one apartment on each floor; Each apartment is approximately 1,400 square feet with 3 bedrooms and 1 bathroom; Semi‑detached brick construction with hardwood flooring
