Brick Duplex with Private
New
For Sale
$1,049,888
34 CORBIN Place, Brooklyn, NY 11235
Two separate residences offer renovation flexibility, while a private driveway and garage provide parking for up to four cars.
Property Size1,034 SF
Lot Size0.06 Acres
Price / SF$1,015
Days on Market4
Property Features for 34 CORBIN Place
General Information
Standard status
Active
Size
1,034 SF
Total Parking Spaces
4
Lot size
0.06 Acres
Property subtype
Multi Family
Zoning
R6
Property Condition
Severity
Major Repairs Needed
Evidence
full gut renovation
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,128
Amenities
private backyard
covered rear patio
front porch
Building Details
Building Size
1,034 SF
Year Built
1940
Construction
brick
Listing Agency:
Serhant
Listed By:
Chandra S Golan · License #10301215946
(646) 480-7665
Source:
Carlinwright
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 3:37PM
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 Serhant
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Investment Insights
Based on property information with market context.
This brick duplex, built in 1940, contains two residences, each arranged with two bedrooms, one full bathroom, a living area, and a kitchen. The upper unit also has a dining area and front porch; the lower unit connects to a covered rear patio and private backyard. Original hardwood flooring remains, and the property requires a full gut renovation. Three outdoor areas include the front porch, covered patio, and southwest-facing backyard. A private driveway and garage accommodate up to four cars.
The 24 x 110-foot lot is reported as R6-zoned. A preliminary calculation estimates approximately 5,800 square feet of residential zoning floor area at 2.2 FAR, including existing space counted toward FAR; an architect must verify zoning, dimensions, development rights, building requirements, and required approvals. Brighton Beach and Sheepshead Bay subway stations are approximately one third of a mile away. Beaches, the boardwalk, shops, restaurants, and waterfront destinations are nearby.
The 24 x 110-foot lot is reported as R6-zoned. A preliminary calculation estimates approximately 5,800 square feet of residential zoning floor area at 2.2 FAR, including existing space counted toward FAR; an architect must verify zoning, dimensions, development rights, building requirements, and required approvals. Brighton Beach and Sheepshead Bay subway stations are approximately one third of a mile away. Beaches, the boardwalk, shops, restaurants, and waterfront destinations are nearby.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 24 x 110‑foot lot; reported R6 zoning
- Preliminary estimate of approximately 5,800 square feet of residential zoning floor area at 2.2 FAR, subject to verification and approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,212
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,240
$724.2K
Cap Rate 7%
$517,314
$517.3K
Cap Rate 9%
$402,356
$402.4K
Market Conditions
NOI Build-Up for 1,034 SF
Gross rent
$52.7K $51.00/SF
− Vacancy
−$1.0K −$0.97/SF
EGI
$51.7K $50.03/SF
− OpEx
−$15.5K −$15.01/SF
NOI
$36.2K $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 Rate 5%
$724,240
Cap Rate 7%
$517,314
Cap Rate 9%
$402,356
Alternative Uses
Best Use
Multifamily LT 5
$517.3K
$452.7K – $603.5K
NOI $36,212 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$451.0K
$394.6K – $526.1K
NOI $31,567 @ 7.0% cap · market cap 3.01%
Theoretical Best
Specialty Retail
$856.2K
$749.1K – $998.9K
NOI $59,931 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,838
Businesses Nearby
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Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer renovation flexibility, while a private driveway and garage provide parking for up to four cars.
Where is this duplex located?
The property is located at 34 CORBIN Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,049,888.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 24 x 110‑foot lot; reported R6 zoning; Preliminary estimate of approximately 5,800 square feet of residential zoning floor area at 2.2 FAR, subject to verification and approvals
