Bay Ridge Multifamily Investment
For Sale
$2,168,888
328 91st St, Brooklyn, NY 11209
Six-family building in Bay Ridge with renovated apartments and finished basement.
Property Size5,625 SF
Lot Size0.07 Acres
Days on Market258
Property Features for 328 91st St
General Information
Standard status
Active
Size
5,625 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$23,397
Building Details
Building Size
5,625 SF
Stories
3
Listing Agency:
DiTommaso Real Estate
(718) 667-8000
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 667-8000
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:50PM
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 DiTommaso Real Estate
Investment Insights
Based on property information with market context.
Located in Bay Ridge, this six-family building presents an investment opportunity. The building features two apartments on each floor. Each apartment includes two bedrooms, one full bathroom, and a separate kitchen. The sun-filled units have high ceilings and hardwood floors throughout. All apartments were renovated approximately 7 to 10 years ago and are reported to be in good condition. The property also includes a finished basement with a separate entrance. Conveniently located, the property offers easy access to public transportation, with the R train a few minutes away. A Food Town supermarket is located on the corner, and restaurants, shops, and cafes are available on Third Avenue.
Key Highlights
- Six‑family building in Bay Ridge offering a strong investment opportunity.
- Convenient access to public transportation (R train) and local amenities.
- Each apartment features two bedrooms, one bathroom, a separate kitchen, high ceilings, and hardwood floors.**
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
$171,725
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
7.92%
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%
$3,434,500
$3.4M
Cap Rate 7%
$2,453,214
$2.5M
Cap Rate 9%
$1,908,056
$1.9M
Market Conditions
NOI Build-Up for 5,625 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
$318.6K $56.64/SF
− Vacancy
−$6.4K −$1.13/SF
EGI
$312.2K $55.51/SF
− OpEx
−$140.5K −$24.98/SF
NOI
$171.7K $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 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%
$3,434,500
Cap Rate 7%
$2,453,214
Cap Rate 9%
$1,908,056
Alternative Uses
Best Use
Apartment 5plus
$2.45M
$2.15M – $2.86M
NOI $171,725 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.66M
$4.08M – $5.43M
NOI $326,025 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Apartment building - Six-family building in Bay Ridge with renovated apartments and finished basement.
Where is this apartment building located?
The property is located at 328 91st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,168,888.
What are key features of this property?
This property features: Six‑family building in Bay Ridge offering a strong investment opportunity.; Convenient access to public transportation (R train) and local amenities.; Each apartment features two bedrooms, one bathroom, a separate kitchen, high ceilings, and hardwood floors.**
