Two-Family Duplex With Deep
For Sale
$2,200,000
33 Sutton St, Brooklyn, NY 11222
Vacant duplex with refreshed interiors, private outdoor space, and convenient access to parks, schools, transit, and neighborhood amenities.
Property Size2,337 SF
Days on Market8
Property Features for 33 Sutton St
General Information
Standard status
Active
Size
2,337 SF
Property subtype
Residential
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,412
Building Details
Building Size
2,337 SF
Year Built
1910
Buildings
1
Stories
3
Units
2
Listing Agency:
Compass
Listed By:
Jeffrey L Valcourt
(917) 244-5321
Source:
Elliman
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 10:52AM
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 Compass
Investment Insights
Based on property information with market context.
This vacant two-family duplex offers a flexible residential configuration on a 100-foot-deep lot. Each floor has approximately 9-foot ceilings, while the interior includes updated flooring, kitchens, and bathrooms. A clean basement adds storage or utility space, and a rear steel deck opens to a deep backyard with a mature cherry blossom tree.
The property is located at 33 Sutton St in Brooklyn’s Greenpoint neighborhood, two blocks from McGolrick Park and near PS 110. McCarren Park, the Nassau Avenue G and Graham Avenue L subway lines, Citi Bike stations, restaurants, cafés, and other neighborhood amenities are also within the surrounding area. The property is delivered vacant, allowing the next owner to occupy the residence, maintain its two-family setup, or pursue a different configuration subject to applicable requirements.
The property is located at 33 Sutton St in Brooklyn’s Greenpoint neighborhood, two blocks from McGolrick Park and near PS 110. McCarren Park, the Nassau Avenue G and Graham Avenue L subway lines, Citi Bike stations, restaurants, cafés, and other neighborhood amenities are also within the surrounding area. The property is delivered vacant, allowing the next owner to occupy the residence, maintain its two-family setup, or pursue a different configuration subject to applicable requirements.
Key Highlights
- Two‑family duplex delivered vacant
- 100‑foot‑deep lot with private backyard
- Approximately 9‑foot ceilings on each floor
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
$81,846
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
3.72%
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%
$1,636,920
$1.6M
Cap Rate 7%
$1,169,229
$1.2M
Cap Rate 9%
$909,400
$909.4K
Market Conditions
NOI Build-Up for 2,337 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
$119.2K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$116.9K $50.03/SF
− OpEx
−$35.1K −$15.01/SF
NOI
$81.8K $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%
$1,636,920
Cap Rate 7%
$1,169,229
Cap Rate 9%
$909,400
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,846 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$1.02M
$891.8K – $1.19M
NOI $71,346 @ 7.0% cap · market cap 3.24%
Theoretical Best
Specialty Retail
$1.94M
$1.69M – $2.26M
NOI $135,453 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
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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?
Duplex - Vacant duplex with refreshed interiors, private outdoor space, and convenient access to parks, schools, transit, and neighborhood amenities.
Where is this duplex located?
The property is located at 33 Sutton St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two‑family duplex delivered vacant; 100‑foot‑deep lot with private backyard; Approximately 9‑foot ceilings on each floor
