Renovated Three-Family
New
For Sale
$2,999,000
479 Putnam Avenue, Brooklyn, NY 11221
Three separate apartments combine updated building systems with private outdoor space and finished lower-level area in the garden residence.
Property Size3,420 SF
Lot Size0.04 Acres
Price / SF$876.90
Days on Market5
Property Features for 479 Putnam Avenue
General Information
Standard status
Active
Size
3,420 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/3BA, 2 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,862
Amenities
private backyard
finished basement
Building Details
Buildings
1
Stories
4
Construction
brownstone
Listing Agency:
Real Broker NY LLC
Listed By:
Mina Abusafe · License #MA4397
(718) 256-4000
Source:
Penrealty
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 9:58PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This four-story brownstone contains three apartments and approximately 3,420 square feet of interior living area. The garden-level residence is arranged as a triplex with 3/4 bedrooms, three bathrooms, a finished basement, and a private backyard reached from the kitchen deck or sitting room. The other two apartments each have three bedrooms and one bathroom. Interior features include hardwood floors, granite countertops, and ceramic tile; electrical and plumbing systems have been replaced. Each apartment has split-level air conditioning and heating units, along with baseboard heat.
The property is on Putnam Avenue in Bedford-Stuyvesant, Brooklyn. Restaurants, neighborhood amenities, parks, and playgrounds are nearby, with subway, bus, and LIRR service in the area. The lot measures 19x100, and the building measures 19x45. The property may be sold furnished.
The property is on Putnam Avenue in Bedford-Stuyvesant, Brooklyn. Restaurants, neighborhood amenities, parks, and playgrounds are nearby, with subway, bus, and LIRR service in the area. The lot measures 19x100, and the building measures 19x45. The property may be sold furnished.
Key Highlights
- Three apartments in a four‑story brownstone
- Approximately 3,420 sqft of interior living space
- Garden triplex has 3/4 bedrooms, three bathrooms, finished basement, and private backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,774
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,395,480
$2.4M
Cap Rate 7%
$1,711,057
$1.7M
Cap Rate 9%
$1,330,822
$1.3M
Market Conditions
NOI Build-Up for 3,420 SF
Gross rent
$174.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$171.1K $50.03/SF
− OpEx
−$51.3K −$15.01/SF
NOI
$119.8K $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 Rate 5%
$2,395,480
Cap Rate 7%
$1,711,057
Cap Rate 9%
$1,330,822
Alternative Uses
Best Use
Multifamily LT 5
$1.71M
$1.50M – $2.00M
NOI $119,774 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,409 @ 7.0% cap · market cap 3.48%
Theoretical Best
Specialty Retail
$2.83M
$2.48M – $3.30M
NOI $198,223 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments combine updated building systems with private outdoor space and finished lower-level area in the garden residence.
Where is this triplex located?
The property is located at 479 Putnam Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Three apartments in a four‑story brownstone; Approximately 3,420 sqft of interior living space; Garden triplex has 3/4 bedrooms, three bathrooms, finished basement, and private backyard
