Renovated Duplex with
For Sale
$2,950,000
469 GRAND Street, Brooklyn, NY 11211
Fully updated two-family townhouse with separate living arrangements, private outdoor space, and convenient access to neighborhood dining and transit.
Property Size3,535 SF
Price / SF$834.51
Days on Market457
Property Features for 469 GRAND Street
General Information
Standard status
Active
Size
3,535 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR, 1 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Gross Income
$42,000
Taxes and HOA fees
Annual Taxes
$10,296
Amenities
terrace
garden
Building Details
Building Size
3,535 SF
Year Built
1910
Buildings
1
Stories
3
Listing Agency:
Douglas Elliman Real Estate
Listed By:
JON CAPOBIANCO · License #30CA0791748
(917) 992-2207
Source:
Howardhannanyc
Added: Jun 26, 2025
Changed: Sep 22
Last Checked: Sep 24 at 6:26PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This fully renovated duplex is arranged as a two-family townhouse with a private garage and well-defined living spaces. The 3,535-square-foot property includes a two-bedroom garden-level apartment and an upper-floor three-bedroom, two-and-a-half-bath residence. A kitchen terrace extends to a deep garden, adding meaningful outdoor space for dining and recreation. Constructed in 1910, the home is 19 feet wide, three stories tall, 65 feet deep, and situated on a 95-foot lot.
The property is located on Grand Street in Brooklyn, near neighborhood restaurants and within close proximity to the L and G trains. It also includes 2,343 square feet of unused air rights, providing additional expansion capacity subject to applicable approvals.
The property is located on Grand Street in Brooklyn, near neighborhood restaurants and within close proximity to the L and G trains. It also includes 2,343 square feet of unused air rights, providing additional expansion capacity subject to applicable approvals.
Key Highlights
- Two‑family townhouse with 3,535 square feet of interior space
- Private garage and outdoor areas including a kitchen terrace and deep garden
- Separate 2‑bedroom garden‑level apartment
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
$123,802
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
4.20%
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%
$2,476,040
$2.5M
Cap Rate 7%
$1,768,600
$1.8M
Cap Rate 9%
$1,375,578
$1.4M
Market Conditions
NOI Build-Up for 3,535 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
$180.3K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$176.9K $50.03/SF
− OpEx
−$53.1K −$15.01/SF
NOI
$123.8K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,476,040
Cap Rate 7%
$1,768,600
Cap Rate 9%
$1,375,578
Alternative Uses
Best Use
Multifamily LT 5
$1.77M
$1.55M – $2.06M
NOI $123,802 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $107,920 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$2.93M
$2.56M – $3.41M
NOI $204,889 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
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?
Duplex - Fully updated two-family townhouse with separate living arrangements, private outdoor space, and convenient access to neighborhood dining and transit.
Where is this duplex located?
The property is located at 469 GRAND Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Two‑family townhouse with 3,535 square feet of interior space; Private garage and outdoor areas including a kitchen terrace and deep garden; Separate 2‑bedroom garden‑level apartment
