Four-Story Walk-Up Apartment
For Sale
Contact for pricing
452 Harman Street, Brooklyn, NY 11237
Four-story walk-up with 6 residential units in an R6 zoning district, built in 1901.
Property Size4,762 SF
Price / SF$629.99
Days on Market87
Property Features for 452 Harman Street
General Information
Standard status
Active
Size
4,762 SF
Property subtype
Multifamily
Zoning
R6
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$200,843
Additional Details
Multifamily Units
6
Building Details
Year Built
1901
Buildings
1
Stories
4
Units
6
Tenancy
Multi
Listing Agency:
Alpha Realty NY
Listed By:
Lev Mavashev · License #NY 10351208812
Source:
Crexi
Added: May 19
Changed: Aug 7
Last Checked: Aug 11 at 3:01PM
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 Alpha Realty NY
Investment Insights
Based on property information with market context.
452 Harman Street is a four-story walk-up apartment building with 6 residential units. The property was built in 1901 and sits on a 20 ft x 56.25 ft building footprint, totaling 4,762 SF. Its classic architecture and multi-unit configuration support a straightforward income-oriented residential use.
The property is located in Bushwick, Brooklyn, within an R6 zoning district. The offering is positioned on a prime block and lot, with the noted zoning also supporting long-term flexibility for future residential projects subject to applicable requirements.
The building is arranged as a 4-story walk-up designed to house six apartments, offering an efficient structure for a small multifamily investor or owner-operator evaluating residential income properties in Brooklyn.
The property is located in Bushwick, Brooklyn, within an R6 zoning district. The offering is positioned on a prime block and lot, with the noted zoning also supporting long-term flexibility for future residential projects subject to applicable requirements.
The building is arranged as a 4-story walk-up designed to house six apartments, offering an efficient structure for a small multifamily investor or owner-operator evaluating residential income properties in Brooklyn.
Key Highlights
- Built in 1901, this 4‑story walk‑up features 6 residential apartment units
- Building size is 4,762 SF (20 ft x 56.25 ft) across a prime Bushwick block and lot (03291‑0019)
- Located in an R6 zoning district, offering versatility for future residential development
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
$145,379
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
4.85%
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%
$2,907,580
$2.9M
Cap Rate 7%
$2,076,843
$2.1M
Cap Rate 9%
$1,615,322
$1.6M
Market Conditions
NOI Build-Up for 4,762 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
$269.7K $56.64/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$264.3K $55.51/SF
− OpEx
−$118.9K −$24.98/SF
NOI
$145.4K $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%
$2,907,580
Cap Rate 7%
$2,076,843
Cap Rate 9%
$1,615,322
Alternative Uses
Best Use
Apartment 5plus
$2.08M
$1.82M – $2.42M
NOI $145,379 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.94M
$3.45M – $4.60M
NOI $276,006 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Four-story walk-up with 6 residential units in an R6 zoning district, built in 1901.
Where is this apartment building located?
The property is located at 452 Harman Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Built in 1901, this 4‑story walk‑up features 6 residential apartment units; Building size is 4,762 SF (20 ft x 56.25 ft) across a prime Bushwick block and lot (03291‑0019); Located in an R6 zoning district, offering versatility for future residential development
