39 Bay 22nd St Brooklyn, NY 11214
Vacant, as-is three-family residence on an oversized lot in an R5 district with room for major expansion.
Property Features for 39 Bay 22nd St
General Information
- Standard status
- Active
- Size
- 3,450 SF
- Lot size
- 0.13 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1935
Listing office Keller Williams Realty (845) 610-6065
Listing date Jun 21, 2026
Source Elliman
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Investment Insights
Based on property information with market context.
The property is positioned in Bath Beach, within School District 20, and is described as close to local transit, public safety stations, shopping, and dining. At closing, the property will be delivered vacant and broom-swept.
For builders and experienced multifamily developers, the combination of an oversized lot and the stated R5 envelope supports planning flexibility for a larger redevelopment footprint. Given the “AS-IS” delivery and significant unused floor area, buyers are encouraged to bring their architect to evaluate the site and confirm all development assumptions independently.
Key Highlights
- 1935 detached property configured as a 3,450 SF three‑family residence (sold strictly AS‑IS)
- 60 ft x 97 ft lot totaling 5,800 SF with approximately 5,278 SF of unused floor area
- R5 zoning with maximum 2.0 FAR and maximum buildable envelope up to 8,700 SF
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.8k | $40.80 |
| − Vacancy | −$6.3k | −$1.84 |
| EGI | $134.4k | $38.96 |
| − OpEx | −$40.3k | −$11.69 |
| NOI | $94.1k | $27.27 |
