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    Six-Family Residential Income Building Title is generated by Realmo AI

    34 Sutton Street, Brooklyn, NY 11222

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    Claim this Listing
    New
    For Sale
    $2,399,000

    MULTI_FAMILY - Brooklyn, NY

    Lot size:
    0.06 Acres
    Added:
    Jun 6, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 8 at 2:06 am

    Property Features for 34 Sutton Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R6B
    Rooms
    Basement
    Security features
    Security System
    Fencing
    Fenced
    Basement
    Finished, Full
    Standard status
    Active
    APN
    02690-0052
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    12354

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Cooling system
    Electric, Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1940
    Number of units
    6
    Building materials
    Aluminum Siding, Brick

    We can help!

    Listing Contact
    Karina M. Guevara CBR

    Listing agent Karina M. Guevara CBR

    Listing office Red Jasmine Real Estate 34 Willis Ave Suite 142, Floral Park, NY

    Listing date Jun 6, 2026

    MLS# 1010064

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 6‑family building with 10 bedrooms and 7 full bathrooms; full finished basement and access to a private fenced backyard
    • Approx. $13,722/month gross annual rental income ($164,665 annually); 3 free‑market units month‑to‑month and 3 rent‑stabilized units (1 vacant)
    • Capital improvements include four recently renovated apartments, 3 newly updated kitchens, a new boiler (~1 year old), roof (~3 years old), and siding (~2 years old)
    • 24‑hour professionally installed security camera system
    • Professionally managed for the past five years with organized financial records, leases, operating statements, and maintenance documentation available
    • Built in 1940 with aluminum siding and brick; public water and public sewer

    Overview

    This well-maintained 6-family residential income building offers 10 bedrooms and 7 full bathrooms, along with a full finished basement. The property includes a private backyard with mature trees, and the lower level features a full bathroom and access to the yard, which can support additional storage or flexible use such as an office, recreation, media, hobby, or fitness space. Current tenancy consists of 3 free-market units on a month-to-month basis and 3 rent-stabilized units, with one rent-stabilized apartment currently vacant. Gross annual rental income is approximately $164,665.

    The building is located on a tree-lined block in the Greenpoint area of Brooklyn. It is near McGolrick Park and McCarren Park, with access to the G train and the NYC Ferry mentioned in the offering materials.

    Recent capital improvements include four recently renovated apartments and three newly updated kitchens, plus a new boiler (approximately one year old), a roof (approximately three years old), and siding (approximately two years old). A professionally installed 24-hour security camera system is also in place. For buyers and operators seeking a managed Brooklyn multifamily asset with a mix of free-market and rent-stabilized units and organized records, the property is presented with leases, operating statements, and maintenance documentation available for review. The existing vacancy may also be an operational consideration for an incoming owner, while the finished basement provides practical added utility.
    Property Profile Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.940157
    Latitude
    40.724147

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 6-family with renovated units, updated systems, and a finished basement leading to a private backyard.
    Where is this apartment building located?
    The property is located at 34 Sutton Street Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,399,000.
    What are key features of this property?
    This property features: 6‑family building with 10 bedrooms and 7 full bathrooms; full finished basement and access to a private fenced backyard; Approx. $13,722/month gross annual rental income ($164,665 annually); 3 free‑market units month‑to‑month and 3 rent‑stabilized units (1 vacant); Capital improvements include four recently renovated apartments, 3 newly updated kitchens, a new boiler (~1 year old), roof (~3 years old), and siding (~2 years old)
    (516) 784-1019
    We can help!
    Listing Contact
    Karina M. Guevara CBR
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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