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    Renovated Two-Family Brick Home Title is generated by Realmo AI

    448 55th Street, Brooklyn, NY 11220

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

    MULTI_FAMILY - Brooklyn, NY

    Property size:
    3,004 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $749/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 448 55th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R6B
    Bedrooms
    12
    Bathrooms
    8
    Rooms
    Bathroom 3, Bedroom 10, Bedroom 5, Bedroom 8, Bathroom 8, Bedroom 9, Bedroom 6, Bedroom 3, Bedroom 11, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 7, Bathroom 6, Bathroom 4, Bedroom 12, Bathroom 7, Bathroom 5, Bedroom 1, Bedroom 4
    Interior features
    A/C Unit, Refrigerator, Stove
    Basement
    Finished, Full
    Standard status
    Active
    Size
    3,004 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8354

    Building Details

    Year built
    1901
    Floors in Building
    3
    Number of units
    2
    Flooring type
    Tile, Hardwood
    Building materials
    Brick, Steel
    Roof type
    Flat

    We can help!

    Listing Contact
    Kelly Wu
    Kelly Wu

    Listing agent Kelly Wu

    Listing office RE/MAX Edge 1812 Bath Ave, Brooklyn, NY

    Listing date Jun 4, 2026

    MLS# 501993 Listing URL

    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.

    HighLights

    • Fully renovated legal two‑family brick property (built 1901) with 3 stories plus a finished basement
    • Building size 20x47 on a 20x100 lot, constructed with steel beams throughout all levels
    • Each floor features 4 bedrooms and 2 full bathrooms; basement includes separate entrance, windows, extra space, and 2 full bathrooms
    • Separately metered utilities with 3 gas meters and 3 electric meters plus 3 separate heating systems and 3 separate hot water systems
    • Interiors include A/C unit, stove, and refrigerator; flooring includes tile and hardwood
    • Flat roof with large private backyard

    Overview

    This fully renovated legal two-family brick property features steel beam construction throughout and has been gut renovated with updated major systems. The building includes three stories plus a finished basement. Each main floor offers four bedrooms and two full bathrooms, and the basement includes its own separate entrance, windows, additional space, and two full bathrooms. Outside, there is a large private backyard. The property is configured with three gas meters, three electric meters, and three separate heating and hot water systems, supporting separately metered utilities and independent services.

    Set on a 20x100 lot with a building size of 20x47, the home is located in Sunset Park in Brooklyn. It is positioned near the 5th Avenue shopping and dining district, with access to public transportation including the N and R subway lines and the B11, B63, and B9 bus routes.

    The layout suits owner-occupants seeking additional income, as well as investors looking for a renovated residential income property with multiple independent utility services. The current legal two-family configuration also presents flexibility for potential future reconfiguration, as noted by the listing, including the possibility of converting to a three-family.
    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
    -74.014399
    Latitude
    40.642732

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    FAQs

    What type of property is this?
    Duplex - Renovated two-family brick property with a finished basement and separate utilities for flexible occupancy options.
    Where is this duplex located?
    The property is located at 448 55th Street 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: Fully renovated legal two‑family brick property (built 1901) with 3 stories plus a finished basement; Building size 20x47 on a 20x100 lot, constructed with steel beams throughout all levels; Each floor features 4 bedrooms and 2 full bathrooms; basement includes separate entrance, windows, extra space, and 2 full bathrooms
    (718) 612-3088
    We can help!
    Listing Contact
    Kelly Wu
    Kelly Wu
    Request Owner's contact information
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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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