Three-Family Brownstone with Private
For Sale
Contact for pricing
347 WARREN ST, Brooklyn, NY 11201
Built in 1899, this 3-family townhouse offers fireplaces, multiple kitchens, and a private backyard accessible from the duplex.
Property Size3,200 SF
Price / SF$1,006
Days on Market107
Property Features for 347 WARREN ST
General Information
Standard status
Active
Size
3,200 SF
Class
A
Property subtype
Multifamily
Zoning
R6B
Investment Type
Value Add
Additional Details
Multifamily Units
3
Building Details
Year Built
1899
Year Renovated
1899
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Brooklyn Vertical
Listed By:
Dov Chein · License #10311205383
Source:
Crexi
Added: May 28
Changed: Aug 27
Last Checked: Sep 11 at 5:54AM
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 Brooklyn Vertical
Investment Insights
Based on property information with market context.
This four-story, 3-family brownstone townhouse was built in 1899 and totals 15 rooms across the residences. The layout includes seven bedrooms and three bathrooms, with fireplaces and kitchens throughout. A private backyard is accessible from the duplex, providing an outdoor space connected to one of the units.
Located in the heart of Boerum Hill in Downtown Brooklyn, the property is described as about a half-block from the subway. The remarks also note a 7-minute train ride to the Lower East Side of NYC, with nearby access to amenities along Smith and Court Street’s corridors, as well as Barclays Center and Whole Foods.
For buyers and operators, the building’s multi-unit configuration supports use as an income-producing residential income property, and the remarks state there is 1,580 sq. ft. of unutilized FAR for vertical or rear expansion. The property is presented as a fit for investors considering a boutique condominium approach, as well as end-users seeking a spacious family brownstone home. Please note that showings require a call or text in advance ahead of the Sunday, May 31st open house, 5-6 pm.
Located in the heart of Boerum Hill in Downtown Brooklyn, the property is described as about a half-block from the subway. The remarks also note a 7-minute train ride to the Lower East Side of NYC, with nearby access to amenities along Smith and Court Street’s corridors, as well as Barclays Center and Whole Foods.
For buyers and operators, the building’s multi-unit configuration supports use as an income-producing residential income property, and the remarks state there is 1,580 sq. ft. of unutilized FAR for vertical or rear expansion. The property is presented as a fit for investors considering a boutique condominium approach, as well as end-users seeking a spacious family brownstone home. Please note that showings require a call or text in advance ahead of the Sunday, May 31st open house, 5-6 pm.
Key Highlights
- Built in 1899, 4‑story 3‑family brownstone townhouse with 3,200 sq. ft. and 15 rooms
- Features seven bedrooms and three bathrooms, plus fireplaces and multiple kitchens
- Private backyard accessible from the duplex
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
$112,069
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
3.48%
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%
$2,241,380
$2.2M
Cap Rate 7%
$1,600,986
$1.6M
Cap Rate 9%
$1,245,211
$1.2M
Market Conditions
NOI Build-Up for 3,200 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
$163.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$160.1K $50.03/SF
− OpEx
−$48.0K −$15.01/SF
NOI
$112.1K $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%
$2,241,380
Cap Rate 7%
$1,600,986
Cap Rate 9%
$1,245,211
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.87M
NOI $112,069 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,693 @ 7.0% cap · market cap 3.03%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
11,816
Businesses Nearby
Explore this area
Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
Median Home Value
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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?
Triplex - Built in 1899, this 3-family townhouse offers fireplaces, multiple kitchens, and a private backyard accessible from the duplex.
Where is this triplex located?
The property is located at 347 WARREN ST Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,222,000.
What are key features of this property?
This property features: Built in 1899, 4‑story 3‑family brownstone townhouse with 3,200 sq. ft. and 15 rooms; Features seven bedrooms and three bathrooms, plus fireplaces and multiple kitchens; Private backyard accessible from the duplex
