Six-Unit Brick Apartment
For Sale
$1,388,000
361 59th Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size3,201 SF
Lot Size0.05 Acres
Price / SF$433.61
Days on Market462
Property Features for 361 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 2
Basement
Full
Subdivision
Sunset Park
Standard status
Active
Size
3,201 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10283
Building Details
Year built
1906
Number of units
6
Flooring type
Laminate, Tile
Building materials
Block, Brick
Roof type
Flat
Listing Agency:
Century 21 Realty First
Listed By:
Anthony Frazzetta · License #FRA465
(718) 758-5838
Added: Jul 1, 2025
Changed: Sep 15
Last Checked: Oct 5 at 1:06AM
MLS# 493898
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 361 59th Street in Brooklyn, this apartment building contains six one-bedroom units within a 3,201-square-foot structure. The building measures 21 by 60 feet and occupies a 21 by 100-foot lot, with a full basement included. Construction materials include brick and block, and the property has a flat roof, tile and laminate flooring, and six bathrooms. Built in 1906, the property is zoned R6A.
The building is in the Sunset Park area near shopping and transportation along 4th Avenue and 5th Avenue, with access to the N and R subway stations. Its address is 361 59th Street, Brooklyn, NY 11220.
The building is in the Sunset Park area near shopping and transportation along 4th Avenue and 5th Avenue, with access to the N and R subway stations. Its address is 361 59th Street, Brooklyn, NY 11220.
Key Highlights
- Six one‑bedroom apartments with six bathrooms
- 3,201‑square‑foot apartment building on a 0.0471‑acre lot
- Building dimensions of 21x60 feet on a 21x100‑foot lot
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
$85,360
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
6.15%
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%
$1,707,200
$1.7M
Cap Rate 7%
$1,219,429
$1.2M
Cap Rate 9%
$948,444
$948.4K
Market Conditions
NOI Build-Up for 3,201 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
$161.3K $50.40/SF
− Vacancy
−$6.1K −$1.92/SF
EGI
$155.2K $48.48/SF
− OpEx
−$69.8K −$21.82/SF
NOI
$85.4K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,707,200
Cap Rate 7%
$1,219,429
Cap Rate 9%
$948,444
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,360 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,259 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
6,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
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?
Apartment building - Six one-bedroom apartments and a full basement create a straightforward multifamily configuration in Brooklyn.
Where is this apartment building located?
The property is located at 361 59th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Six one‑bedroom apartments with six bathrooms; 3,201‑square‑foot apartment building on a 0.0471‑acre lot; Building dimensions of 21x60 feet on a 21x100‑foot lot
