Garden Apartment Co-op with
For Sale
$405,000
289 Bay 19th St B, Brooklyn, NY 11214
One-bedroom co-op with renovated bathroom, hardwood floors, and private patio.
Property Size650 SF
Days on Market259
Property Features for 289 Bay 19th St B
General Information
Standard status
Active
Size
650 SF
Property subtype
Residential
Building Details
Building Size
650 SF
Units
129
Listing Agency:
Ilite Realty Inc
(718) 975-0555
Listed By:
Ayzik Nasimov
(718) 975-0555
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 12 at 7:43AM
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 Ilite Realty Inc
Investment Insights
Based on property information with market context.
This 1-bedroom garden apartment co-op is located on a quiet, tree-lined block and offers ocean views toward Shore Parkway. The home features a renovated tile bathroom, hardwood floors, and customized cabinets and closets. A front patio provides space for outdoor relaxation and entertaining. Ample closet space is available. The complex is pet-friendly, and the unit has a low monthly maintenance fee. The property is located in a neighborhood near transportation, including the Express Bus to Manhattan, and is minutes from shopping and local amenities.
Key Highlights
- Prime location near all transportation, including Express Bus to Manhattan.
- Serene ocean views toward Shore Parkway.
- Exclusive use of a front patio.
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
$15,889
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
3.92%
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%
$317,780
$317.8K
Cap Rate 7%
$226,986
$227.0K
Cap Rate 9%
$176,544
$176.5K
Market Conditions
NOI Build-Up for 650 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
$30.0K $46.20/SF
− Vacancy
−$1.1K −$1.76/SF
EGI
$28.9K $44.44/SF
− OpEx
−$13.0K −$20.00/SF
NOI
$15.9K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /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%
$317,780
Cap Rate 7%
$226,986
Cap Rate 9%
$176,544
Alternative Uses
Best Use
Apartment 5plus
$227.0K
$198.6K – $264.8K
NOI $15,889 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.2K
$331.8K – $442.4K
NOI $26,542 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - One-bedroom co-op with renovated bathroom, hardwood floors, and private patio.
Where is this apartment building located?
The property is located at 289 Bay 19th St B Brooklyn, NY.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Prime location near all transportation, including Express Bus to Manhattan.; Serene ocean views toward Shore Parkway.; Exclusive use of a front patio.
