One-Bedroom Residential Income
For Sale
$515,000
439 Hicks Street 2A, Brooklyn, NY 11201
Corner unit in Cobble Hill Towers with renovated interiors, abundant windows, and shared resident amenities.
Property Size495 SF
Price / SF$1,040
Days on Market59
Property Features for 439 Hicks Street 2A
General Information
Standard status
Active
Size
495 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,708
Amenities
private gardens
bike storage
laundry room
Building Details
Building Size
495 SF
Year Built
1879
Construction
Art Deco
Listing Agency:
Corcoran Group
(917) 683-2552
Listed By:
Scott Sternberg · License #10401233134 (NY)
(917) 683-2552
Source:
Carytamura
Added: Jun 19
Changed: Aug 13
Last Checked: Aug 15 at 11:59AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Located at Cobble Hill Towers, this corner residential unit combines pre-war proportions with updated interior finishes. The layout includes one bedroom, a living room with room for dining and lounging, a windowed kitchen with stainless steel appliances and a dishwasher, and a renewed bathroom with floor-to-ceiling subway tile. Refinished hardwood floors, storage, and seven windows bring additional functionality and natural light. The unit is positioned one flight above ground level and was built in 1879.
Residents have access to two private gardens, bike storage, a laundry room, on-site management, and a live-in superintendent. The property is near Brooklyn Bridge Park, Cobble Hill Park, the F, G, 2, 3, 4, 5, and R trains, and shopping and dining along Atlantic Avenue, Smith Street, and Court Street.
Residents have access to two private gardens, bike storage, a laundry room, on-site management, and a live-in superintendent. The property is near Brooklyn Bridge Park, Cobble Hill Park, the F, G, 2, 3, 4, 5, and R trains, and shopping and dining along Atlantic Avenue, Smith Street, and Court Street.
Key Highlights
- One‑bedroom corner unit at Cobble Hill Towers
- Seven windows with east, west, and north exposures
- Windowed kitchen with stainless steel appliances and dishwasher
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
$15,112
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
2.93%
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%
$302,240
$302.2K
Cap Rate 7%
$215,886
$215.9K
Cap Rate 9%
$167,911
$167.9K
Market Conditions
NOI Build-Up for 495 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
$28.0K $56.64/SF
− Vacancy
−$561 −$1.13/SF
EGI
$27.5K $55.51/SF
− OpEx
−$12.4K −$24.98/SF
NOI
$15.1K $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 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%
$302,240
Cap Rate 7%
$215,886
Cap Rate 9%
$167,911
Alternative Uses
Best Use
Apartment 5plus
$215.9K
$188.9K – $251.9K
NOI $15,112 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$409.9K
$358.6K – $478.2K
NOI $28,690 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner unit in Cobble Hill Towers with renovated interiors, abundant windows, and shared resident amenities.
Where is this residential income property located?
The property is located at 439 Hicks Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: One‑bedroom corner unit at Cobble Hill Towers; Seven windows with east, west, and north exposures; Windowed kitchen with stainless steel appliances and dishwasher
