Renovated Brick Triplex with Private
For Sale
$1,788,000
315 89th Street, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property Size3,020 SF
Lot Size0.05 Acres
Price / SF$592.05
Days on Market197
Property Features for 315 89th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 7, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 4
Parking features
Garage - Detached
Interior features
Central Air - Split, Fireplace
Fireplace
1
Basement
Full, Finished
Subdivision
Bay Ridge
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 Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
Charles A. Fabbella
(718) 238-6080
Added: Feb 15
Changed: Aug 3
Last Checked: Aug 31 at 6:06AM
MLS# 499013
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.
Located at 315 89th Street in Brooklyn, this renovated semi-detached brick triplex was built in 1925 and sits on a 20 x 100 lot (approximately 0.0459 acres). The home measures 16 x 60, totaling 3,020 SF. All units have separate heat and hot water systems with separate thermostats, supporting independent tenant control. Interior amenities include split central air, hardwood floors, and a gas fireplace.
The top floor is configured as a unique three-bedroom duplex with a private balcony and a private rooftop for outdoor space. The property is fully rented with no leases in place.
A detached garage is included and is fully rented for additional income. The layout and finishes are presented as turnkey, with offers welcomed.
The top floor is configured as a unique three-bedroom duplex with a private balcony and a private rooftop for outdoor space. The property is fully rented with no leases in place.
A detached garage is included and is fully rented for additional income. The layout and finishes are presented as turnkey, with offers welcomed.
Key Highlights
- R4‑1 zoned renovated semi‑detached brick triplex
- 3,020 SF on a 20 x 100 lot (approx. 0.0459 acres)
- Built in 1925; flat roof; 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
$105,766
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
5.92%
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%
$2,115,320
$2.1M
Cap Rate 7%
$1,510,943
$1.5M
Cap Rate 9%
$1,175,178
$1.2M
Market Conditions
NOI Build-Up for 3,020 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
$154.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$151.1K $50.03/SF
− OpEx
−$45.3K −$15.01/SF
NOI
$105.8K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,115,320
Cap Rate 7%
$1,510,943
Cap Rate 9%
$1,175,178
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,766 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,197 @ 7.0% cap · market cap 5.16%
Theoretical Best
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $175,039 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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?
Triplex - R4-1 zoned, renovated brick triplex with separate heat and hot water for each unit.
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 $1,788,000.
What are key features of this property?
This property features: R4‑1 zoned renovated semi‑detached brick triplex; 3,020 SF on a 20 x 100 lot (approx. 0.0459 acres); Built in 1925; flat roof; hardwood flooring
