25-Unit Apartment
For Sale
$6,500,000
380 Crescent Street, Brooklyn, NY 11208
Brick residential property with two ground-floor retail spaces and basement storage in Brooklyn’s City Line area.
Property Size18,000 SF
Days on Market10
Property Features for 380 Crescent Street
General Information
Standard status
Active
Size
18,000 SF
Elevators
No
Property subtype
Multi Family
Units
Unit Mix
15 x 2BR, 10 x 1BR
Multifamily Units
25
Taxes and HOA fees
Annual Taxes
$89,156
Building Details
Building Size
18,000 SF
Year Built
1927
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
EXIT Realty Central
(347) 385-4885
Listed By:
Arthur F. Martinez SFR · License #1041648
(347) 385-4885
Source:
Yourhomesoldguaranteedrealty-therealmccoyteam
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 30 at 12:52PM
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 EXIT Realty Central
Investment Insights
Based on property information with market context.
Located at 380 Crescent Street in Brooklyn, NY 11208, this brick apartment property was constructed in 1927 and contains 25 residential units. The unit mix includes 15 two-bedroom apartments and 10 one-bedroom apartments, complemented by two retail spaces. A full basement provides additional storage rooms, while the absence of an elevator supports a simpler building configuration. Tenants pay their own electric and cooking gas utilities. The property is reported at a 10.2% net cap rate and may suit buyers seeking an apartment building with both residential and retail components.
Key Highlights
- 25‑unit apartment building with 15 two‑bedroom and 10 one‑bedroom apartments
- Two retail spaces included in the property
- Full basement with additional storage rooms
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
$411,428
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
6.33%
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%
$8,228,560
$8.2M
Cap Rate 7%
$5,877,543
$5.9M
Cap Rate 9%
$4,571,422
$4.6M
Market Conditions
NOI Build-Up for 18,000 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
$777.6K $43.20/SF
− Vacancy
−$29.5K −$1.64/SF
EGI
$748.1K $41.56/SF
− OpEx
−$336.6K −$18.70/SF
NOI
$411.4K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /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%
$8,228,560
Cap Rate 7%
$5,877,543
Cap Rate 9%
$4,571,422
Alternative Uses
Best Use
Apartment 5plus
$5.88M
$5.14M – $6.86M
NOI $411,428 @ 7.0% cap · market cap 6.33%
Second Best
Retail
$4.73M
$4.14M – $5.52M
NOI $331,309 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$11.01M
$9.64M – $12.85M
NOI $770,964 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,094
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick residential property with two ground-floor retail spaces and basement storage in Brooklyn’s City Line area.
Where is this apartment building located?
The property is located at 380 Crescent Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 25‑unit apartment building with 15 two‑bedroom and 10 one‑bedroom apartments; Two retail spaces included in the property; Full basement with additional storage rooms
