Top-Floor Residential Income
For Sale
$995,000
3 Ridgewood Place PH4, Brooklyn, NY 11237
Two-bedroom condominium with private outdoor spaces, in-unit laundry, storage, and central heating and air conditioning.
Property Size1,084 SF
Price / SF$917.90
Days on Market25
Property Features for 3 Ridgewood Place PH4
General Information
Standard status
Active
Size
1,084 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,420
Amenities
private balcony
private roof deck
in-unit washer/dryer
central air conditioning
private storage unit
Building Details
Building Size
1,084 SF
Year Built
2017
Listing Agency:
Compass
Listed By:
Tali Berzak · License #10301209148
(917) 246-8581
Source:
Nilelundgren
Added: Sep 15
Changed: Oct 2
Last Checked: Oct 7 at 4:48PM
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 Compass
Investment Insights
Based on property information with market context.
Penthouse 4 is a 1,084-square-foot condominium in a 2017 building, arranged as a floor-through residence with two bedrooms and two full bathrooms. The upper-level home features high ceilings, hardwood flooring, recessed lighting, double-pane windows, and a living room opening to a private balcony. A wood-and-glass stairway leads to a private roof deck. The open kitchen includes a Whirlpool refrigerator and gas range, an integrated Bosch dishwasher, custom cabinetry, and extensive counter space. Central heating and air conditioning are controlled by a Nest thermostat, while a Navien tankless water heater, Grundfos booster pump, and in-unit Bosch washer and dryer add functional upgrades. The primary bedroom includes an en-suite bathroom, and a separate private storage unit is included.
The property is located at 3 Ridgewood Place PH4 in Brooklyn, NY 11237, with access to the L and M trains at Myrtle-Wyckoff. The surrounding Bushwick setting includes independent restaurants, cafes, nightlife, and neighborhood services, including Rolo's, Il Gigante, Ltauha, L'Imprimerie, Saint Michel Cafe, and Headrest Coffee.
The property is located at 3 Ridgewood Place PH4 in Brooklyn, NY 11237, with access to the L and M trains at Myrtle-Wyckoff. The surrounding Bushwick setting includes independent restaurants, cafes, nightlife, and neighborhood services, including Rolo's, Il Gigante, Ltauha, L'Imprimerie, Saint Michel Cafe, and Headrest Coffee.
Key Highlights
- 1,084‑square‑foot penthouse condominium in a 2017 building
- Two bedrooms and two full bathrooms, including a primary suite with en‑suite bath
- Private balcony plus a private roof deck reached by a wood‑and‑glass stairway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,093
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,860
$661.9K
Cap Rate 7%
$472,757
$472.8K
Cap Rate 9%
$367,700
$367.7K
Market Conditions
NOI Build-Up for 1,084 SF
Gross rent
$61.4K $56.64/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$60.2K $55.51/SF
− OpEx
−$27.1K −$24.98/SF
NOI
$33.1K $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%
$661,860
Cap Rate 7%
$472,757
Cap Rate 9%
$367,700
Alternative Uses
Best Use
Apartment 5plus
$472.8K
$413.7K – $551.6K
NOI $33,093 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$897.6K
$785.4K – $1.05M
NOI $62,829 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,882
Businesses Nearby
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Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with private outdoor spaces, in-unit laundry, storage, and central heating and air conditioning.
Where is this residential income property located?
The property is located at 3 Ridgewood Place PH4 Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1,084‑square‑foot penthouse condominium in a 2017 building; Two bedrooms and two full bathrooms, including a primary suite with en‑suite bath; Private balcony plus a private roof deck reached by a wood‑and‑glass stairway
