Brick Quadplex with Finished
For Sale
$1,999,000
516 72nd Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size3,420 SF
Lot Size0.07 Acres
Price / SF$584.50
Days on Market89
Property Features for 516 72nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C1-3/R6B
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 7, Bathroom 3, Bathroom 5, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1
Parking features
Garage - Attached
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Bay Ridge
Standard status
Active
Size
3,420 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
11940
Building Details
Year built
1905
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(347) 988-5318
Added: Jul 5
Changed: Sep 16
Last Checked: Oct 1 at 3:06PM
MLS# 502783
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.
This 3,420-square-foot quadplex is a semi-detached brick building constructed in 1905. The unit mix includes a first-floor duplex with two bedrooms and two full bathrooms, a three-bedroom second-floor apartment, and two one-bedroom apartments on the third floor. Each residence has distinct living, dining, and kitchen areas. The finished full basement adds usable interior space. Hardwood and tile flooring, a flat roof, refrigerators, and stoves are included.
The property occupies a 0.0689-acre, 30-by-100-foot lot with a 20-by-55-foot building footprint. Site features include a 10-foot private driveway, attached built-in garage, side yard, and backyard. Zoning is C1-3/R6B, and the source information identifies potential for partial or full commercial conversion subject to architect review and NYC approvals. The property is near the R train, shopping, restaurants, schools, parks, and the Verrazzano-Narrows Bridge.
The property occupies a 0.0689-acre, 30-by-100-foot lot with a 20-by-55-foot building footprint. Site features include a 10-foot private driveway, attached built-in garage, side yard, and backyard. Zoning is C1-3/R6B, and the source information identifies potential for partial or full commercial conversion subject to architect review and NYC approvals. The property is near the R train, shopping, restaurants, schools, parks, and the Verrazzano-Narrows Bridge.
Key Highlights
- Four‑family brick building with 3,420 square feet, constructed in 1905
- Unit mix includes a 2‑bedroom duplex, 3‑bedroom apartment, and two 1‑bedroom apartments
- Finished full basement provides additional interior space
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
$119,774
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
5.99%
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%
$2,395,480
$2.4M
Cap Rate 7%
$1,711,057
$1.7M
Cap Rate 9%
$1,330,822
$1.3M
Market Conditions
NOI Build-Up for 3,420 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
$174.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$171.1K $50.03/SF
− OpEx
−$51.3K −$15.01/SF
NOI
$119.8K $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%
$2,395,480
Cap Rate 7%
$1,711,057
Cap Rate 9%
$1,330,822
Alternative Uses
Best Use
Multifamily LT 5
$1.71M
$1.50M – $2.00M
NOI $119,774 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,409 @ 7.0% cap · market cap 5.22%
Theoretical Best
Specialty Retail
$2.83M
$2.48M – $3.30M
NOI $198,223 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,553
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four-unit brick property with a finished basement, attached garage, private driveway, and separate living, dining, and kitchen areas.
Where is this quadplex located?
The property is located at 516 72nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Four‑family brick building with 3,420 square feet, constructed in 1905; Unit mix includes a 2‑bedroom duplex, 3‑bedroom apartment, and two 1‑bedroom apartments; Finished full basement provides additional interior space
