Renovated Brick
For Sale
$1,788,000
315 89th Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size3,020 SF
Lot Size0.05 Acres
Price / SF$592.05
Days on Market228
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
Bathroom 4, Bedroom 3, Bedroom 7, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1
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
(917) 453-0053
Added: Feb 15
Changed: Sep 15
Last Checked: Oct 1 at 3:06PM
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.
This 3,020-square-foot triplex is a semi-detached brick property built in 1925 on a 20-by-100-foot lot, with a 16-by-60-foot building footprint. The R4-1-zoned property has three bathrooms, hardwood flooring, split central air, a fireplace, and separate heat and hot water systems with individual thermostats. The top residence includes a three-bedroom duplex layout, private balcony, walk-in closet, and private bathroom. A detached garage is also on the property and is currently rented.
The property is located at 315 89th Street in Brooklyn’s Bay Ridge area, within ZIP Code 11209. The address provides access to the neighborhood’s bars and restaurants. The building’s flat roof and brick construction are complemented by a private rooftop connected to the upper-level residence.
The property is located at 315 89th Street in Brooklyn’s Bay Ridge area, within ZIP Code 11209. The address provides access to the neighborhood’s bars and restaurants. The building’s flat roof and brick construction are complemented by a private rooftop connected to the upper-level residence.
Key Highlights
- 3,020‑square‑foot triplex on a 20‑by‑100‑foot lot
- R4‑1 zoning with a 16‑by‑60‑foot building footprint
- Top‑floor three‑bedroom duplex with private balcony and rooftop
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family configuration includes a top-floor three-bedroom duplex, private balcony, rooftop, and detached garage.
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: 3,020‑square‑foot triplex on a 20‑by‑100‑foot lot; R4‑1 zoning with a 16‑by‑60‑foot building footprint; Top‑floor three‑bedroom duplex with private balcony and rooftop
