6-Unit Brick Apartment
For Sale
$1,999,000
328 91st Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size5,625 SF
Lot Size0.07 Acres
Price / SF$355.38
Days on Market329
Property Features for 328 91st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
12
Bathrooms
7
Full bathrooms
6
Rooms
Bedroom 8, Bedroom 9, Bathroom 7, Bedroom 7, Bedroom 1, Bedroom 2, Bathroom 5, Bedroom 11, Bedroom 5, Bathroom 6, Bathroom 1, Bedroom 10, Bedroom 12, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 6
Interior features
A/C Unit, Dishwasher, Refrigerator, Stove
Basement
Finished
Subdivision
Bay Ridge
Standard status
Active
Size
5,625 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
23397
Building Details
Floors in Building
3
Number of units
6
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
DiTommaso Real Estate
(718) 667-8000
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 987-7900
Added: Nov 6, 2025
Changed: Sep 29
Last Checked: Oct 1 at 4:06PM
MLS# 497180
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 six-family brick apartment building contains approximately 5,625 square feet of living area on a 0.0661-acre lot. Two apartments occupy each floor. Every unit has two bedrooms, one full bathroom, a separate kitchen, high ceilings, and hardwood flooring. The apartments are described as being in good condition, and the building includes a finished basement.
The property is in Brooklyn, near the R train and Third Avenue retail and dining options. Nearby conveniences include supermarkets, restaurants, and cafes.
The property is in Brooklyn, near the R train and Third Avenue retail and dining options. Nearby conveniences include supermarkets, restaurants, and cafes.
Key Highlights
- Six‑family brick building with approximately 5,625 square feet of living space
- Two apartments on each floor
- Each residence has 2 bedrooms, 1 full bathroom, and a separate kitchen
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
8.59%
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 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.66M
$4.08M – $5.43M
NOI $326,025 @ 7.0% cap · market cap 16.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six residences are arranged across three floors, with a finished basement adding further interior space.
Where is this apartment building located?
The property is located at 328 91st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Six‑family brick building with approximately 5,625 square feet of living space; Two apartments on each floor; Each residence has 2 bedrooms, 1 full bathroom, and a separate kitchen
