Three-Unit Brick
For Sale
$1,888,000
535 61st Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size2,820 SF
Lot Size0.05 Acres
Price / SF$669.50
Days on Market9
Property Features for 535 61st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 5
Interior features
Refrigerator, Stove
Basement
Unfinished, Full
Subdivision
Sunset Park
Standard status
Active
Size
2,820 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6529
Amenities
backyard
basement storage
Building Details
Year built
1910
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Ceramic
Building materials
Brick
Roof type
Flat
Listing Agency:
Bellmarc
(718) 768-4500
Listed By:
Ali G. Tom · License #AT7155
(718) 768-4500
Added: Aug 20
Changed: Aug 27
Last Checked: Aug 28 at 9:06AM
MLS# 503938
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 three-unit, semi-detached brick residence contains 2,820 square feet and was built in 1910. The apartment layout includes a one-bedroom unit on the ground floor, a two-bedroom unit above it, and a three-bedroom unit on the top floor; each apartment has one bathroom. The property is delivered vacant at closing and includes a full basement, backyard, ceramic and hardwood flooring, a flat roof, refrigerator, and stove. Zoning is R6B, and the lot measures 0.0459 acres.
Located at 535 61st Street in Brooklyn’s Sunset Park area, the property is near 5th Avenue restaurants, cafes, supermarkets, shops, and neighborhood services. Transportation access includes the 59th Street station, served by N express and R local subway service, along with bus routes on 5th Avenue. Sunset Park, 8th Avenue, Industry City, and Bush Terminal Piers Park are also nearby.
Located at 535 61st Street in Brooklyn’s Sunset Park area, the property is near 5th Avenue restaurants, cafes, supermarkets, shops, and neighborhood services. Transportation access includes the 59th Street station, served by N express and R local subway service, along with bus routes on 5th Avenue. Sunset Park, 8th Avenue, Industry City, and Bush Terminal Piers Park are also nearby.
Key Highlights
- Three apartments with one-, two-, and three‑bedroom layouts
- 2,820‑square‑foot brick building on a 0.0459‑acre lot
- Delivered vacant at closing
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
$83,964
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
4.45%
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%
$1,679,280
$1.7M
Cap Rate 7%
$1,199,486
$1.2M
Cap Rate 9%
$932,933
$932.9K
Market Conditions
NOI Build-Up for 2,820 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
$125.2K $44.40/SF
− Vacancy
−$5.3K −$1.86/SF
EGI
$119.9K $42.54/SF
− OpEx
−$36.0K −$12.76/SF
NOI
$84.0K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,679,280
Cap Rate 7%
$1,199,486
Cap Rate 9%
$932,933
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,964 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$1.07M
$940.0K – $1.25M
NOI $75,200 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,969 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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?
Triplex - Vacant-at-closing multifamily property with three apartments, a full basement, and a backyard.
Where is this triplex located?
The property is located at 535 61st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Three apartments with one-, two-, and three‑bedroom layouts; 2,820‑square‑foot brick building on a 0.0459‑acre lot; Delivered vacant at closing
