Restored Two-Family Brownstone with Outdoor
For Sale
$2,895,000
507 QUINCY Street, Brooklyn, NY 11221
Restored two-family home with three private outdoor spaces, including a garden-level rental with direct backyard access.
Property Size3,386 SF
Price / SF$854.99
Days on Market8
Property Features for 507 QUINCY Street
General Information
Standard status
Active
Size
3,386 SF
Property subtype
Multi Family
Building Details
Building Size
3,386 SF
Year Built
1905
Listing Agency:
Corcoran Group
(917) 336-1526
Listed By:
Justin Martinez · License #10401225096 (NY)
(917) 336-1526
Source:
Carlinwright
Added: Jul 24
Changed: Jul 30
Last Checked: Jul 31 at 11:21AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This restored two-family brownstone offers three levels of living space complemented by three private outdoor areas. The home presents a classic 1905 brownstone facade with preserved original exterior details, while the interior is fully reimagined. Total interior space is 2,022 sq ft above grade plus a full 674 sq ft basement. The owner’s residence spans multiple levels and includes a parlor floor with a restored cast-iron mantle, a chef’s kitchen with a 14-foot waterfall island and integrated appliances, and an upper-level primary suite with a windowed walk-in closet and a spa-like en-suite bath. A bonus room opens directly to a private rooftop terrace with tree-top views.
The garden-level one-bedroom is a fully separate, light-filled rental unit with its own kitchen and full bath, plus direct access to a landscaped, fully fenced backyard featuring artificial turf, custom planters, and cedar privacy fencing.
Configured as a two-family (B3) converted from one family, the property sits on a 19.25 ft x 100 ft lot with a 19.25 ft x 35 ft building footprint, with brick and masonry construction throughout.
The garden-level one-bedroom is a fully separate, light-filled rental unit with its own kitchen and full bath, plus direct access to a landscaped, fully fenced backyard featuring artificial turf, custom planters, and cedar privacy fencing.
Configured as a two-family (B3) converted from one family, the property sits on a 19.25 ft x 100 ft lot with a 19.25 ft x 35 ft building footprint, with brick and masonry construction throughout.
Key Highlights
- Restored 1905 brick and masonry two‑family brownstone
- 2,022 sq ft above grade plus 674 sq ft full basement
- Three private outdoor spaces: garden, parlor balcony, and rooftop terrace
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.7k | $51.00 |
| − Vacancy | −$3.3k | −$0.97 |
| EGI | $169.4k | $50.03 |
| − OpEx | −$50.8k | −$15.01 |
| NOI | $118.6k | $35.02 |
3,386 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.69M
$1.48M – $1.98M
NOI $118,583 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,371 @ 7.0% cap · market cap 3.57%
Theoretical Best
Specialty Retail
$2.80M
$2.45M – $3.27M
NOI $196,253 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,616
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
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 - Restored two-family home with three private outdoor spaces, including a garden-level rental with direct backyard access.
Where is this duplex located?
The property is located at 507 QUINCY Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: Restored 1905 brick and masonry two‑family brownstone; 2,022 sq ft above grade plus 674 sq ft full basement; Three private outdoor spaces: garden, parlor balcony, and rooftop terrace
