Vacant Brick
For Sale
Contact for pricing
359 Monroe St, Brooklyn, NY 11221
Legal three-family property with separate utilities, flexible layouts, and a private backyard.
Property Size4,470 SF
Price / SF$536.80
Days on Market63
Property Features for 359 Monroe St
General Information
Standard status
Active
Size
4,470 SF
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
private backyard
Building Details
Year Built
2007
Buildings
1
Construction
brick
Listing Agency:
SERHANT
Listed By:
Alessa Aichinger · License #10401333915
Source:
Crexi
Added: Aug 22
Changed: Oct 1
Last Checked: Oct 20 at 5:54PM
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 legal three-family brick property at 359 Monroe St is configured as a triplex and is delivered fully vacant. Built in 2007, it contains 8 bedrooms and 6 full bathrooms across approximately 3,361 sq ft of above-grade living space. A finished basement adds approximately 1,109 sq ft, bringing total usable interior space to approximately 4,470 sq ft. Separate utilities, flexible floor plans, and a private backyard are included.
The property is located in Brooklyn’s Bedford-Stuyvesant area near the Clinton Hill and Williamsburg borders. The surrounding context includes shopping, dining, universities, hospitals, and public transportation, with access to Manhattan and Williamsburg identified in the property information. The vacant condition allows the next owner to establish occupancy without an existing tenant arrangement.
The property is located in Brooklyn’s Bedford-Stuyvesant area near the Clinton Hill and Williamsburg borders. The surrounding context includes shopping, dining, universities, hospitals, and public transportation, with access to Manhattan and Williamsburg identified in the property information. The vacant condition allows the next owner to establish occupancy without an existing tenant arrangement.
Key Highlights
- Fully vacant legal 3‑family brick building
- Built in 2007 with 8 bedrooms and 6 full bathrooms
- Approximately 3,361 sq ft of above‑grade living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,547
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,130,940
$3.1M
Cap Rate 7%
$2,236,386
$2.2M
Cap Rate 9%
$1,739,411
$1.7M
Market Conditions
NOI Build-Up for 4,470 SF
Gross rent
$228.0K $51.00/SF
− Vacancy
−$4.3K −$0.97/SF
EGI
$223.6K $50.03/SF
− OpEx
−$67.1K −$15.01/SF
NOI
$156.5K $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%
$3,130,940
Cap Rate 7%
$2,236,386
Cap Rate 9%
$1,739,411
Alternative Uses
Best Use
Multifamily LT 5
$2.24M
$1.96M – $2.61M
NOI $156,547 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$1.95M
$1.71M – $2.27M
NOI $136,464 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$3.70M
$3.24M – $4.32M
NOI $259,081 @ 7.0% cap · market cap 10.80%
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
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,424
Businesses Nearby
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Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family property with separate utilities, flexible layouts, and a private backyard.
Where is this triplex located?
The property is located at 359 Monroe St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,399,500.
What are key features of this property?
This property features: Fully vacant legal 3‑family brick building; Built in 2007 with 8 bedrooms and 6 full bathrooms; Approximately 3,361 sq ft of above‑grade living space
