Renovated Two-Unit Brownstone
New
For Sale
$2,950,000
500 Madison Street, Brooklyn, NY 11221
A separate garden-level apartment includes its own outdoor area and in-unit washer and dryer.
Property Size3,990 SF
Price / SF$739.35
Days on Market4
Property Features for 500 Madison Street
General Information
Standard status
Active
Size
3,990 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,274
Building Details
Building Size
3,990 SF
Year Built
1901
Buildings
1
Stories
4
Listing Agency:
MNS
Listed By:
Michael D Brooks
(212) 475-9000
Source:
Miradorrealestate
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 8:51AM
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 MNS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated 3,990-square-foot, four-story brownstone with cellar contains two residences. The main home features a parlor floor with 10-foot ceilings, herringbone wood flooring, and a kitchen with a center island and Sub-Zero and Wolf appliances. A terrace connects the dining area to the rear yard. The upper floors provide five bedrooms, including two suites, while the finished cellar has a half bath and access from the main residence only. White oak floors and central heating and cooling serve the property.
The garden-level apartment occupies a full floor and has two bedrooms, laundry, and its own outdoor area. A fence separates that space from the main home's yard. The property is near Herbert Von King Park, with A and C express service at Utica Avenue and C train service at Kingston-Throop.
The garden-level apartment occupies a full floor and has two bedrooms, laundry, and its own outdoor area. A fence separates that space from the main home's yard. The property is near Herbert Von King Park, with A and C express service at Utica Avenue and C train service at Kingston-Throop.
Key Highlights
- Two‑family brownstone with 3,990 square feet across four stories and a cellar
- Garden‑level, full‑floor rental apartment with two bedrooms, in‑unit laundry, and separate outdoor area
- Main residence has five upper‑floor bedrooms, including two suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,737
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,794,740
$2.8M
Cap Rate 7%
$1,996,243
$2.0M
Cap Rate 9%
$1,552,633
$1.6M
Market Conditions
NOI Build-Up for 3,990 SF
Gross rent
$203.5K $51.00/SF
− Vacancy
−$3.9K −$0.97/SF
EGI
$199.6K $50.03/SF
− OpEx
−$59.9K −$15.01/SF
NOI
$139.7K $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%
$2,794,740
Cap Rate 7%
$1,996,243
Cap Rate 9%
$1,552,633
Alternative Uses
Best Use
Multifamily LT 5
$2.00M
$1.75M – $2.33M
NOI $139,737 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,811 @ 7.0% cap · market cap 4.13%
Theoretical Best
Specialty Retail
$3.30M
$2.89M – $3.85M
NOI $231,260 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,623
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate garden-level apartment includes its own outdoor area and in-unit washer and dryer.
Where is this duplex located?
The property is located at 500 Madison 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 brownstone with 3,990 square feet across four stories and a cellar; Garden‑level, full‑floor rental apartment with two bedrooms, in‑unit laundry, and separate outdoor area; Main residence has five upper‑floor bedrooms, including two suites
