Brooklyn Multifamily Property For
For Sale
$2,570,000
Pending
358 GATES Ave, Brooklyn, NY 11216
Multifamily property available for purchase in Brooklyn, New York.
Property Size3,400 SF
Lot Size0.04 Acres
Days on Market330
Property Features for 358 GATES Ave
General Information
Standard status
Pending
Size
3,400 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,696
Building Details
Building Size
3,400 SF
Year Built
1899
Stories
3
Units
2
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Douglas (Doug) Bowen · License #10301217443
(646) 247-0822
Source:
Elliman
Added: Dec 3, 2025
Changed: Oct 25
Last Checked: Oct 28 at 10:27AM
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 Douglas Elliman Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A multifamily property located at 358 GATES Ave, Brooklyn, NY 11216 is available for sale.
Key Highlights
- Year Built: 1899 (Historic Charm)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,798
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,075,960
$2.1M
Cap Rate 7%
$1,482,829
$1.5M
Cap Rate 9%
$1,153,311
$1.2M
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$192.6K $56.64/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$188.7K $55.51/SF
− OpEx
−$84.9K −$24.98/SF
NOI
$103.8K $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 Rate 5%
$2,075,960
Cap Rate 7%
$1,482,829
Cap Rate 9%
$1,153,311
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,798 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.82M
$2.46M – $3.28M
NOI $197,064 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
5,908
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property available for purchase in Brooklyn, New York.
Where is this multifamily property located?
The property is located at 358 GATES Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,570,000.
What are key features of this property?
This property features: Year Built: 1899 (Historic Charm)
