New Brooklyn Multifamily Investment
413 57th Street Brooklyn, NY 11220
413 57th Street, Brooklyn, NY, 11220
$5,300,000
For Sale
$5,300,000
MULTI_FAMILY - Brooklyn, NY
Property Size9,000 SF
Lot Size0.05 Acres
Price / SF$588.89
Days on Market114
Property Features for 413 57th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 12
- Rooms
- Bathroom 4, Bathroom 12, Bathroom 3, Bathroom 7, Bathroom 8, Bathroom 2, Bathroom 6, Bathroom 10, Bathroom 5, Bathroom 1, Bathroom 9, Bathroom 11
- Interior features
- A/C Unit, Central Air
- Basement
- Full, Finished
- Standard status
- Active
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2400
Building Details
- Number of units
- 12
- Flooring type
- Tile, Hardwood
- Building materials
- Block, Brick
- Roof type
- Flat
Listing agency
Tiger Realty
(917) 708-9966
Listed by
Franklin Shan
(917) 708-9966
Added: Mar 31 Updated: Jul 12 at 12:34PM Checked: Jul 22 at 9:06PM
MLS# 500117
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This newly constructed 7-story residential building in Brooklyn features 12 units, with 2 units per floor. The building is not subject to rent control. Each floor includes a front 1-bedroom unit and a rear 2-bedroom unit. The property spans approximately 9,000 square feet and is constructed with concrete and steel. The current Net Operating Income (NOI) is $349,906 annually, with a cap rate of 6.6%. There is potential for a T-Mobile rooftop lease for antenna installation, projected to generate an additional $50,000 annually. Tenants are responsible for all utilities, including heat and hot water, contributing to low operating expenses and a stable income stream. The property is located in a high-demand area, minutes from Manhattan via the N train, and adjacent to Park Slope.
Key Highlights
- Newly constructed 7‑story residential building with 12 units (2 units per floor)
- Unit mix: each floor has a front 1‑bedroom unit and a rear 2‑bedroom unit
- Approx. 9,000 SF building constructed with concrete and steel (block and brick exterior materials)
Local Financial Insights For Apartment 5plus
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 | $453.6k | $50.40 |
| − Vacancy | −$17.2k | −$1.92 |
| EGI | $436.4k | $48.48 |
| − OpEx | −$196.4k | −$21.82 |
| NOI | $240.0k | $26.67 |
9,000 SF · lease $50.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.43M
$3.00M – $4.00M
NOI $240,000 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.83M
$5.11M – $6.81M
NOI $408,413 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Allstate Insurance - Raymond ...
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - New 7-story, 12-unit building near Park Slope.
Where is this apartment building located?
The property is located at 413 57th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: Newly constructed 7‑story residential building with 12 units (2 units per floor); Unit mix: each floor has a front 1‑bedroom unit and a rear 2‑bedroom unit; Approx. 9,000 SF building constructed with concrete and steel (block and brick exterior materials)
