Eight-Unit Multifamily
For Sale
Contact for pricing
55 Stanhope Street, Brooklyn, NY 11221
2016-built eight-unit building with separate utilities and wall AC, plus in-building tenant laundry.
Property Size6,103 SF
Price / SF$688.19
Days on Market59
Property Features for 55 Stanhope Street
General Information
Standard status
Active
Size
6,103 SF
Property subtype
Multifamily
Zoning
R6
Occupancy
87%
Investment Type
Stabilized
Net Operating Income
$241,941
Additional Details
Multifamily Units
8
Building Details
Year Built
2016
Stories
4
Units
8
Tenancy
Single
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Derek Bestreich · License #10991237362
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 11 at 11:15AM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
Built in 2016, this protected 2B tax class multifamily property contains eight free-market apartments. Each unit is equipped with separate utilities, including heat/hot water, and wall-mounted AC units, supporting individualized climate control and utility responsibility. The building also includes a basement with laundry machines for tenant use.
The property is located at 55 Stanhope Street in Brooklyn’s Bushwick neighborhood, positioned between Evergreen Avenue and Central Avenue. Access to Manhattan is supported by nearby subway service, with the J, Z, M, and L lines within walking distance. The surrounding area also offers a concentration of retail along Knickerbocker Avenue, Myrtle Avenue, and Broadway.
Designed for tenants seeking independence and on-site conveniences, the unit-level heating/hot water setup and wall AC can help reduce shared utility arrangements. The in-building laundry feature provides everyday practicality without leaving the property. For buyers and operators, the combination of a newer construction profile, free-market apartment structure, and the specific eviction protections described for this building can support a more straightforward long-term operating approach.
The property is located at 55 Stanhope Street in Brooklyn’s Bushwick neighborhood, positioned between Evergreen Avenue and Central Avenue. Access to Manhattan is supported by nearby subway service, with the J, Z, M, and L lines within walking distance. The surrounding area also offers a concentration of retail along Knickerbocker Avenue, Myrtle Avenue, and Broadway.
Designed for tenants seeking independence and on-site conveniences, the unit-level heating/hot water setup and wall AC can help reduce shared utility arrangements. The in-building laundry feature provides everyday practicality without leaving the property. For buyers and operators, the combination of a newer construction profile, free-market apartment structure, and the specific eviction protections described for this building can support a more straightforward long-term operating approach.
Key Highlights
- 2016‑built 8‑unit free market apartment building not subject to Good Cause Eviction
- Each unit has separate utilities, including heat/hot water, plus wall‑mounted AC units
- On‑site tenant laundry in the basement with laundry machines provided for tenants
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
$186,318
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
4.44%
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%
$3,726,360
$3.7M
Cap Rate 7%
$2,661,686
$2.7M
Cap Rate 9%
$2,070,200
$2.1M
Market Conditions
NOI Build-Up for 6,103 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
$345.7K $56.64/SF
− Vacancy
−$6.9K −$1.13/SF
EGI
$338.8K $55.51/SF
− OpEx
−$152.4K −$24.98/SF
NOI
$186.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,726,360
Cap Rate 7%
$2,661,686
Cap Rate 9%
$2,070,200
Alternative Uses
Best Use
Apartment 5plus
$2.66M
$2.33M – $3.11M
NOI $186,318 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.05M
$4.42M – $5.90M
NOI $353,730 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
6,126
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?
Apartment building - 2016-built eight-unit building with separate utilities and wall AC, plus in-building tenant laundry.
Where is this apartment building located?
The property is located at 55 Stanhope Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 2016‑built 8‑unit free market apartment building not subject to Good Cause Eviction; Each unit has separate utilities, including heat/hot water, plus wall‑mounted AC units; On‑site tenant laundry in the basement with laundry machines provided for tenants
