Two-Bedroom Residential Income
For Sale
$428,000
Pending
421 Crown Street 16R, Brooklyn, NY 11225
HDFC cooperative unit with hardwood floors, separate kitchen, custom closets, and on-site laundry.
Property Size900 SF
Days on Market147
Property Features for 421 Crown Street 16R
General Information
Standard status
Pending
Size
900 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
on-site laundry facilities
modern butterfly intercom system
Building Details
Building Size
900 SF
Year Built
1923
Listing Agency:
Compass
Listed By:
Matthew DeSilva
(917) 517-2922
Source:
Howardhannanyc
Added: Jun 5
Changed: Oct 25
Last Checked: Oct 28 at 2:52PM
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 Compass
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Investment Insights
Based on property information with market context.
This approximately 900-square-foot HDFC cooperative residence offers a two-bedroom layout within a building constructed in 1923. The interior includes a spacious living area, separate kitchen, hardwood flooring, retro wood paneling, custom closets, and a jet spa bathtub. A modern butterfly intercom system and on-site laundry add building-level convenience.
The property is located in Crown Heights with access to multiple subway lines and nearby dining destinations including Daughter, Ursula, and Raas. HDFC income restrictions apply based on household size.
The property is located in Crown Heights with access to multiple subway lines and nearby dining destinations including Daughter, Ursula, and Raas. HDFC income restrictions apply based on household size.
Key Highlights
- Approximately 900 square feet with two bedrooms
- HDFC co‑op with household income restrictions
- Building constructed in 1923
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,476
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,520
$549.5K
Cap Rate 7%
$392,514
$392.5K
Cap Rate 9%
$305,289
$305.3K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$51.0K $56.64/SF
− Vacancy
−$1.0K −$1.13/SF
EGI
$50.0K $55.51/SF
− OpEx
−$22.5K −$24.98/SF
NOI
$27.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,520
Cap Rate 7%
$392,514
Cap Rate 9%
$305,289
Alternative Uses
Best Use
Apartment 5plus
$392.5K
$343.5K – $457.9K
NOI $27,476 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,099
Businesses Nearby
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Business Placement
Demographics for 11225, NY
58,786
Population
26,703
Households
2.2
Avg Household Size
36
Median Age
48%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
65,318
Density / Sq Mi
$85,201
Median Household Income
$54,639
Median Earnings
$1,733
Median Rent
$1,218,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - HDFC cooperative unit with hardwood floors, separate kitchen, custom closets, and on-site laundry.
Where is this residential income property located?
The property is located at 421 Crown Street 16R Brooklyn, NY.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: Approximately 900 square feet with two bedrooms; HDFC co‑op with household income restrictions; Building constructed in 1923
