Updated Brick Multifamily
For Sale
$1,888,888
40 Bay 46th St, Brooklyn, NY 11214
Updated brick residence with multiple private driveways, garage parking, and a configuration suited to extended household living.
Property Size2,945 SF
Days on Market62
Property Features for 40 Bay 46th St
General Information
Standard status
Active
Size
2,945 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,408
Building Details
Building Size
2,945 SF
Year Built
1975
Stories
3
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Elliman
Added: Aug 12
Changed: Oct 7
Last Checked: Oct 11 at 6:41AM
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 Bergen Basin Realty LLC
Investment Insights
Based on property information with market context.
Built in 1975, this brick multifamily residence at 40 Bay 46th St includes 18 rooms, 7 bedrooms, and 6 baths. The home has been updated and is described as ready for occupancy, with two private driveways and a 1-car garage providing on-site parking.
The property is located in Brooklyn, NY 11214, with a Walk Score of 83, a BikeScore of 67, and a TransitScore of 88. These ratings reflect a setting with walkable access, bikeable conditions, and strong transit connectivity.
The property is located in Brooklyn, NY 11214, with a Walk Score of 83, a BikeScore of 67, and a TransitScore of 88. These ratings reflect a setting with walkable access, bikeable conditions, and strong transit connectivity.
Key Highlights
- 18‑room multifamily residence with 7 bedrooms and 6 baths
- Brick construction; built in 1975
- Updated interior described as ready for occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,989
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,439,780
$1.4M
Cap Rate 7%
$1,028,414
$1.0M
Cap Rate 9%
$799,878
$799.9K
Market Conditions
NOI Build-Up for 2,945 SF
Gross rent
$136.1K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$130.9K $44.44/SF
− OpEx
−$58.9K −$20.00/SF
NOI
$72.0K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,439,780
Cap Rate 7%
$1,028,414
Cap Rate 9%
$799,878
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$899.9K – $1.20M
NOI $71,989 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,258 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
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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?
Multifamily property - Updated brick residence with multiple private driveways, garage parking, and a configuration suited to extended household living.
Where is this multifamily property located?
The property is located at 40 Bay 46th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,888,888.
What are key features of this property?
This property features: 18‑room multifamily residence with 7 bedrooms and 6 baths; Brick construction; built in 1975; Updated interior described as ready for occupancy
