Renovated Duplex with Private
New
For Sale
$2,990,000
508 Hancock Street, Brooklyn, NY 11233
A finished lower-level apartment has its own entrance, with cellar storage provided for both residences.
Property Size3,240 SF
Price / SF$922.84
Days on Market3
Property Features for 508 Hancock Street
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$912
Amenities
rear terrace
private deck
landscaped backyard
laundry facilities
Building Details
Building Size
3,240 SF
Year Built
1899
Buildings
1
Construction
brownstone
Listing Agency:
EXP Realty NYC
Listed By:
Ecaterina MOROSAN · License #3490655
(929) 444-8802
Source:
Penrealty
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 10 at 2:23AM
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 NYC
Investment Insights
Based on property information with market context.
This 3,240-square-foot Brooklyn duplex, built in 1899, has undergone a full interior renovation with new plumbing, electrical systems, windows, and Daikin mini-split heating and cooling. The main entertaining floor has 11-foot ceilings, a kitchen with a center island, and a 10-foot-wide folding glass door opening to a private deck and landscaped backyard. A custom staircase beneath a skylight connects the levels. The upper floors include a primary suite, three additional bedrooms, and three bathrooms; laundry is available on three levels.
The finished lower level is a separate apartment with its own entrance. Dedicated cellar storage serves both the main residence and the apartment. The property is on a tree-lined block in Bedford-Stuyvesant, near restaurants, cafes, and shops along Malcolm X Boulevard, Lewis Avenue, and Tompkins Avenue.
The finished lower level is a separate apartment with its own entrance. Dedicated cellar storage serves both the main residence and the apartment. The property is on a tree-lined block in Bedford-Stuyvesant, near restaurants, cafes, and shops along Malcolm X Boulevard, Lewis Avenue, and Tompkins Avenue.
Key Highlights
- 3,240‑square‑foot duplex at 508 Hancock Street
- Built in 1899; full interior renovation includes new plumbing, electrical systems, windows, and Daikin mini‑split heating and cooling
- Separate finished lower‑level apartment with its own entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,470
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,269,400
$2.3M
Cap Rate 7%
$1,621,000
$1.6M
Cap Rate 9%
$1,260,778
$1.3M
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$165.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$162.1K $50.03/SF
− OpEx
−$48.6K −$15.01/SF
NOI
$113.5K $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%
$2,269,400
Cap Rate 7%
$1,621,000
Cap Rate 9%
$1,260,778
Alternative Uses
Best Use
Multifamily LT 5
$1.62M
$1.42M – $1.89M
NOI $113,470 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,914 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,790 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,278
Businesses Nearby
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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
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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?
Duplex - A finished lower-level apartment has its own entrance, with cellar storage provided for both residences.
Where is this duplex located?
The property is located at 508 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: 3,240‑square‑foot duplex at 508 Hancock Street; Built in 1899; full interior renovation includes new plumbing, electrical systems, windows, and Daikin mini‑split heating and cooling; Separate finished lower‑level apartment with its own entrance
