516 55th Street Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Features for 516 55th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 1, Bathroom 2
- Standard status
- Active
- Size
- 1,800 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9500
Building Details
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Hardwood
- Building materials
- Brick
Listing agent Coco (Elaine) Li (718) 676-6611
Listing office Winzone Realty Inc 7405 18th Ave, Brooklyn, NY (718) 676-6611
Listing date May 28, 2026
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property sits on an approximately 20 by 100 lot (about 0.0459 acres). It includes separate electric, gas, and hot water systems for the building, which can simplify metering and utilities management for multiple occupants. The listing also notes a convenient area near transportation, shopping, and daily essentials.
For tenants, buyers, or end users, the configuration supports either straightforward multi-unit rental operations or an owner-occupant approach where additional floors can be occupied while others provide supplemental income. With the building delivered vacant, new ownership can plan for immediate occupancy and leasing without needing to coordinate with existing tenants.
Key Highlights
- Brick 3‑family property with hardwood flooring
- 20x45 building; basement is 20x55
- Lot size 20x100
Local 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 | $79.9k | $44.40 |
| − Vacancy | −$3.4k | −$1.86 |
| EGI | $76.6k | $42.54 |
| − OpEx | −$23.0k | −$12.76 |
| NOI | $53.6k | $29.77 |
