Stately Brownstone in Stuyvesant
For Sale
$1,800,000
505 Macon St, Brooklyn, NY 11233
Two-family brownstone with renovation potential in a desirable Brooklyn location.
Property Size2,850 SF
Lot Size0.05 Acres
Price / SF$631.58
Days on Market165
Property Features for 505 Macon St
General Information
Standard status
Active
Size
2,850 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,217
Building Details
Building Size
2,850 SF
Year Built
1901
Listing Agency:
eXp Realty LLC
(888) 276-0630
Listed By:
Raymond P Reis
(888) 276-0630
Source:
Elliman
Added: Mar 12
Changed: Aug 17
Last Checked: Aug 22 at 7:22AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Located on a picturesque block in Stuyvesant Heights, 505 Macon Street is a three-story, two-family brownstone with a basement/cellar. Constructed in 1901, this pre-war townhouse measures approximately 2,850 square feet on a 20-foot by 100-foot lot. The property is currently configured as two apartments across three floors, with additional space in the basement/cellar. The property offers a gut renovation opportunity with original brownstone details, including period woodwork, fireplaces, and other pre-war elements. The 20-foot width, private backyard, and historic facade provide a foundation for a customized reimagining. Options include creating a single-family residence, designing an owner’s triplex with garden rental, or crafting a two-family investment property. Situated between Stuyvesant Avenue and Malcolm X Boulevard, 505 Macon is surrounded by restored townhomes, neighborhood dining, and convenient access to the A/C subway lines.
Key Highlights
- Prime gut renovation opportunity in Stuyvesant Heights.
- Spacious 2,850 sq ft brownstone on a 20' x 100' lot.
- Original pre‑war details (woodwork, fireplaces) ready for restoration.
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
$99,812
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
5.55%
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%
$1,996,240
$2.0M
Cap Rate 7%
$1,425,886
$1.4M
Cap Rate 9%
$1,109,022
$1.1M
Market Conditions
NOI Build-Up for 2,850 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
$145.4K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$142.6K $50.03/SF
− OpEx
−$42.8K −$15.01/SF
NOI
$99.8K $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%
$1,996,240
Cap Rate 7%
$1,425,886
Cap Rate 9%
$1,109,022
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.66M
NOI $99,812 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,008 @ 7.0% cap · market cap 4.83%
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $165,186 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,932
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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?
Duplex - Two-family brownstone with renovation potential in a desirable Brooklyn location.
Where is this duplex located?
The property is located at 505 Macon St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime gut renovation opportunity in Stuyvesant Heights.; Spacious 2,850 sq ft brownstone on a 20' x 100' lot.; Original pre‑war details (woodwork, fireplaces) ready for restoration.
