Residential Income Property with Roof
For Sale
$589,000
364 Harman Street 2A, Brooklyn, NY 11237
One-bedroom condominium with modern finishes, private laundry, elevator access, and shared fitness and rooftop amenities.
Property Size637 SF
Price / SF$924.65
Days on Market156
Property Features for 364 Harman Street 2A
General Information
Standard status
Active
Size
637 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,449
Amenities
in-unit washer/dryer
split-system air conditioning
fitness center
roof deck
bike storage
dishwasher
microwave
gas range
soaking tub
white oak flooring
built-in Bluetooth speaker system
Mitsubishi split-unit heating and cooling
Andersen windows
Building Details
Building Size
637 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Elizabeth V Alicea
(646) 966-2479
Source:
Tricialee
Added: Apr 6
Changed: Sep 7
Last Checked: Sep 7 at 8:31AM
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 Compass
Investment Insights
Based on property information with market context.
This 637-square-foot one-bedroom condominium is located in The Harmony, a boutique building completed in 2019. The residence includes a king-sized bedroom, three large closets, white oak flooring, oversized Andersen windows, and an east-facing rear exposure. Its kitchen features a quartz island, lacquered cabinetry, stainless steel appliances, a gas range, dishwasher, and microwave. A soaking tub, Grohe fixtures, Bluetooth speakers, and Mitsubishi split-unit heating and cooling complete the interior. An in-unit washer and dryer adds everyday convenience.
Building amenities include an elevator, fully equipped fitness center, furnished roof deck with Manhattan skyline views, bike storage, and package-friendly access. The property is at 364 Harman Street in Brooklyn, NY 11237, between Wyckoff and Irving Avenues. DeKalb and Knickerbocker subway stations, serving the L and M trains, along with a Citi Bike station, are within a few blocks. Cafes, restaurants, independent shops, and creative businesses surround the building.
Building amenities include an elevator, fully equipped fitness center, furnished roof deck with Manhattan skyline views, bike storage, and package-friendly access. The property is at 364 Harman Street in Brooklyn, NY 11237, between Wyckoff and Irving Avenues. DeKalb and Knickerbocker subway stations, serving the L and M trains, along with a Citi Bike station, are within a few blocks. Cafes, restaurants, independent shops, and creative businesses surround the building.
Key Highlights
- 637‑square‑foot one‑bedroom condominium in The Harmony
- Completed in 2019 with elevator access
- Quartz‑island kitchen with stainless steel appliances and gas range
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
$19,447
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
3.30%
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%
$388,940
$388.9K
Cap Rate 7%
$277,814
$277.8K
Cap Rate 9%
$216,078
$216.1K
Market Conditions
NOI Build-Up for 637 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
$36.1K $56.64/SF
− Vacancy
−$722 −$1.13/SF
EGI
$35.4K $55.51/SF
− OpEx
−$15.9K −$24.98/SF
NOI
$19.4K $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 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%
$388,940
Cap Rate 7%
$277,814
Cap Rate 9%
$216,078
Alternative Uses
Best Use
Apartment 5plus
$277.8K
$243.1K – $324.1K
NOI $19,447 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$527.4K
$461.5K – $615.4K
NOI $36,921 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with modern finishes, private laundry, elevator access, and shared fitness and rooftop amenities.
Where is this residential income property located?
The property is located at 364 Harman Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 637‑square‑foot one‑bedroom condominium in The Harmony; Completed in 2019 with elevator access; Quartz‑island kitchen with stainless steel appliances and gas range
