Renovated Bay Ridge Multi-Family
315 89th Street, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property size:
3,020 SFLot size:
0.05 AcresPrice / SF:
$622/SF- Added:
- Feb 15, 2026
- Days on Market:
- 91
- Last Refresh:
- May 17 at 9:06 am
Property Features for 315 89th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R4-1
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 7, Bedroom 6
- Parking features
- Garage - Detached
- Interior features
- Central Air - Split, Fireplace
- Fireplace
- 1
- Basement
- Finished, Full
- Standard status
- Active
- Size
- 3,020 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 12281
Building Details
- Year built
- 1925
- Floors in Building
- 4
- Number of units
- 3
- Flooring type
- Hardwood
- Building materials
- Brick
- Roof type
- Flat
Listing agent Charles A. Fabbella (718) 680-6442
Listing office Ben Bay Realty Co of Bay Ridge 8418 3rd Ave, Brooklyn, NY (718) 238-6080
Listing date Feb 15, 2026
MLS# 499013
Listing URL
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.
HighLights
- Fully rented 3‑family brick property with no leases, offering immediate rental income.
- Top floor features a unique 3‑bedroom duplex with private balcony, gas fireplace, walk‑in closet, private bathroom, and private rooftop with Bay Ridge views.
- All separate heat and hot water units with individual thermostats for each apartment.
- Detached garage is currently rented for additional income of $350/month.
- Prime Bay Ridge location, close to bars and restaurants.
- Semi‑detached brick property on a 20x100 lot with R4‑1 zoning.
Overview
This is a fully rented, semi-detached brick three-family property located in Bay Ridge, Brooklyn. Situated on a 20x100 lot, the building itself measures 16 x 60. The property is zoned R4-1. Each unit has separate heat and hot water, as well as individual thermostats. The property has been renovated. The top floor features a three-bedroom duplex with a private balcony and a gas fireplace. The large third bedroom is duplexed with a walk-in closet and a private bathroom, and provides access to a private rooftop with views of Bay Ridge. The location is convenient to bars and restaurants. The detached garage is rented for additional income at $350 per month. The property offers 3,020 square feet of living space on a lot of 0.0459 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$1.18M
NOI $105,766 @ 9.00% cap · cautious / downside scenario
Moderate
$1.51M
NOI $105,766 @ 7.00% cap · market / base-case scenario
Aggressive
$2.12M
NOI $105,766 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.0k | $51.00 |
| − Vacancy | −$2.9k | −$0.97 |
| EGI | $151.1k | $50.03 |
| − OpEx | −$45.3k | −$15.01 |
| NOI | $105.8k | $35.02 |
3,020 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,766 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,197 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $175,039 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Remsen Wireless
Mobile Phone Store
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.031248
- Latitude
- 40.621437
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Fully rented, renovated three-family property in prime Bay Ridge location.
Where is this triplex located?
The property is located at 315 89th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,879,000.
What are key features of this property?
This property features: Fully rented 3‑family brick property with no leases, offering immediate rental income.; Top floor features a unique 3‑bedroom duplex with **private balcony, gas fireplace, walk‑in closet, private bathroom, and private rooftop with Bay Ridge views.**; All separate heat and hot water units with individual thermostats for each apartment.
