Brick Three-Family
For Sale
$1,749,000
426 54th Street, Brooklyn, NY 11220
Vacant legal triplex with flexible layouts, a paved rear yard, and dedicated cellar utility space.
Property Size2,671 SF
Price / SF$654.81
Days on Market134
Property Features for 426 54th Street
General Information
Standard status
Active
Size
2,671 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/2BA, 2 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,153
Amenities
washer/dryer
paved yard
storage
Building Details
Building Size
2,671 SF
Year Built
1901
Buildings
1
Stories
4
Construction
brick
Listing Agency:
Compass
(646) 207-6734
Listed By:
WILLIAM D KOKORIS
(646) 207-6734
Source:
Carlinwright
Added: Apr 2
Changed: Aug 11
Last Checked: Aug 13 at 11:32AM
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
Investment Insights
Based on property information with market context.
This legal three-family brick townhouse is delivered vacant and arranged across four full floors plus a cellar. The first and second floors form a two-bedroom, two-bath duplex with living and dining areas and an eat-in kitchen. Separate one-bedroom apartments occupy the third and fourth floors, with open living areas and substantial closet storage. Hardwood floors and natural light from multiple exposures add to the interior character, while the paved rear yard provides usable outdoor space.
The cellar includes a washer and dryer, separate boiler and hot water heater, meter room, and additional storage. Built in 1901, the property retains classic townhouse elements including a cornice, bay windows, and a stoop. It is located on a historic block in Sunset Park near train service and within Brooklyn’s culturally diverse neighborhood setting.
The cellar includes a washer and dryer, separate boiler and hot water heater, meter room, and additional storage. Built in 1901, the property retains classic townhouse elements including a cornice, bay windows, and a stoop. It is located on a historic block in Sunset Park near train service and within Brooklyn’s culturally diverse neighborhood setting.
Key Highlights
- Legal three‑family brick townhouse delivered vacant
- Four full floors plus a cellar
- Two‑bedroom, two‑bath duplex across the first and second floors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,528
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,590,560
$1.6M
Cap Rate 7%
$1,136,114
$1.1M
Cap Rate 9%
$883,644
$883.6K
Market Conditions
NOI Build-Up for 2,671 SF
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.
Gross rent
$118.6K $44.40/SF
− Vacancy
−$5.0K −$1.86/SF
EGI
$113.6K $42.54/SF
− OpEx
−$34.1K −$12.76/SF
NOI
$79.5K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,590,560
Cap Rate 7%
$1,136,114
Cap Rate 9%
$883,644
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$994.1K – $1.33M
NOI $79,528 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$1.02M
$890.3K – $1.19M
NOI $71,227 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,208 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant legal triplex with flexible layouts, a paved rear yard, and dedicated cellar utility space.
Where is this triplex located?
The property is located at 426 54th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Legal three‑family brick townhouse delivered vacant; Four full floors plus a cellar; Two‑bedroom, two‑bath duplex across the first and second floors
