Renovated Apartment
For Sale
Contact for pricing
372 Saint Johns Place, Brooklyn, NY 11238
Multifamily property with 19 residential units and 90% free-market occupancy in Brooklyn.
Property Size15,435 SF
Price / SF$638.16
Days on Market159
Property Features for 372 Saint Johns Place
General Information
Standard status
Active
Size
15,435 SF
Class
A
Property subtype
Multifamily
Zoning
R7A
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$650,065
Additional Details
Multifamily Units
19
Building Details
Buildings
1
Units
19
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Brock Emmetsberger · License #NY 10301208301
(646) 933-2620
Source:
Crexi
Added: May 19
Changed: Oct 20
Last Checked: Oct 23 at 6:45AM
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 Matthews
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Investment Insights
Based on property information with market context.
This renovated multifamily property contains 19 residential units within a 15,435-square-foot apartment building. The asset is located at 372 Saint Johns Place in Brooklyn, New York, and carries R7A zoning.
The property includes a 90% free-market component, providing a defined mix of market-rate and other residential units within the building. Its apartment-building classification and existing multifamily configuration support continued residential income use.
The property includes a 90% free-market component, providing a defined mix of market-rate and other residential units within the building. Its apartment-building classification and existing multifamily configuration support continued residential income use.
Key Highlights
- 19‑unit multifamily apartment building
- 15,435‑square‑foot property
- Renovated building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$471,214
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,424,280
$9.4M
Cap Rate 7%
$6,731,629
$6.7M
Cap Rate 9%
$5,235,711
$5.2M
Market Conditions
NOI Build-Up for 15,435 SF
Gross rent
$874.2K $56.64/SF
− Vacancy
−$17.5K −$1.13/SF
EGI
$856.8K $55.51/SF
− OpEx
−$385.5K −$24.98/SF
NOI
$471.2K $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%
$9,424,280
Cap Rate 7%
$6,731,629
Cap Rate 9%
$5,235,711
Alternative Uses
Best Use
Apartment 5plus
$6.73M
$5.89M – $7.85M
NOI $471,214 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.78M
$11.18M – $14.91M
NOI $894,613 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
19
Residential units
Location Intelligence
Trade Area within ½ mile
5,741
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
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
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with 19 residential units and 90% free-market occupancy in Brooklyn.
Where is this apartment building located?
The property is located at 372 Saint Johns Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $9,850,000.
What are key features of this property?
This property features: 19‑unit multifamily apartment building; 15,435‑square‑foot property; Renovated building
