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    Two-Family Brick Townhouse Title is generated by Realmo AI

    405 Irving Avenue, Brooklyn, NY 11237

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    Claim this Listing
    New
    For Sale
    $2,250,000

    MULTI_FAMILY - Brooklyn, NY

    Lot size:
    0.05 Acres
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 405 Irving Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 6, Bathroom 4, Bedroom 5, Dining Room, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3
    Parking features
    On Street
    Interior features
    Built-in Features, Chefs Kitchen, Formal Dining, High Ceilings, Kitchen Island, Marble Counters, Natural Woodwork, Open Floorplan, Open Kitchen, Pantry, Walk-In Closet(s)
    Exterior features
    Balcony
    Fencing
    Fenced
    Standard status
    Active
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    5026

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1910
    Number of units
    2
    Flooring type
    Hardwood
    Building materials
    Brick

    We can help!

    Listing Contact
    Luciane R. Serifovic
    Luciane R. Serifovic

    Listing agent Luciane R. Serifovic License #10491208575

    Listing office Luxian International Realty 745 5th Ave Ste 500, New York, NY

    Listing date May 28, 2026

    MLS# 1005645 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑family brick townhouse with an owner’s duplex plus a garden residence below
    • Year built: 1910; restored natural woodwork and built‑in features
    • Kitchen with chef’s features, kitchen island, marble counters, pantry, and open floorplan layout
    • Multiple skylights and high ceilings, plus formal dining and open dining/kitchen flow
    • Primary suite includes a walk‑in closet(s); bathrooms include multiple labeled baths (1–5 plus Bathroom 2)
    • Central air and heating with electric and forced air; hardwood floors, balcony, fenced yard, public water and public sewer

    Overview

    This brick townhouse is configured as a two-family property, combining an owner’s duplex with an additional garden residence below. The interior features skylights and soaring ceilings designed to bring in natural light. Key finishes called out in the description include a custom oak kitchen with Verde Alpi marble, along with restored architectural details and sculptural brass accents. Rooms include walls of glass that open to a private outdoor retreat, creating an indoor-outdoor connection for daily living and entertaining.

    The property is located at 405 Irving Avenue in Brooklyn, NY 11237. The remarks indicate the home is minutes from transportation and near the newly opened Whole Foods.

    As an owner-occupant setup, the duplex arrangement can support privacy while keeping a second unit on-site, with the added benefit of an outdoor retreat linked to the main living areas. The presence of distinct residential components may also appeal to buyers seeking a straightforward two-unit structure within a single brick townhouse building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.910352
    Latitude
    40.697015

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    FAQs

    What type of property is this?
    Duplex - Two-family brick townhouse with an owner’s duplex and garden residence, featuring skylights and glass-facing outdoor space.
    Where is this duplex located?
    The property is located at 405 Irving Avenue Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Two‑family brick townhouse with an owner’s duplex plus a garden residence below; Year built: 1910; restored natural woodwork and built‑in features; Kitchen with chef’s features, kitchen island, marble counters, pantry, and open floorplan layout
    (917) 567-8767
    We can help!
    Listing Contact
    Luciane R. Serifovic
    Luciane R. Serifovic
    Real Estate License ID: 10491208575
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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