Free-Market Multifamily
For Sale
$1,995,000
579 Decatur Street, Brooklyn, NY 11233
Residential income property in Brooklyn’s 11233 ZIP code with free-market positioning.
Property Size4,712 SF
Days on Market58
Property Features for 579 Decatur Street
General Information
Standard status
Active
Size
4,712 SF
Property subtype
Multifamily
Additional Details
Cap Rate
6.3%
Amenities
579 Decatur Street is a restored 19th-century brownstone townhouse offering three free-market, two-bedroom residences in Stuyvesant Heights, Brooklyn.
Tax Class: 1 | Zoning: R6B | 100% Free Market
The property's central location places it within a short commute of Downtown Brooklyn, Williamsburg, Long Island City, and Manhattan with connectivity to the J, L, A or C Subway lines.
Building Details
Building Size
4,712 SF
Units
3
Tenancy
Multi
Listing Agency:
New York City Office
Listed By:
Shaun Riney · License #License(s): NY: 10491208207, NY: 10301215754
(718) 475-4369
Source:
Marcusmillichap
Added: Aug 28
Changed: Oct 23
Last Checked: Oct 24 at 1:32PM
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 New York City Office
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Investment Insights
Based on property information with market context.
This multifamily property at 579 Decatur Street is a fully free-market residential asset in Brooklyn, New York. The property is offered for sale and carries the 11233 ZIP code.
Key Highlights
- Fully free‑market multifamily property
- 579 Decatur Street, Brooklyn, NY 11233
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,852
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,877,040
$2.9M
Cap Rate 7%
$2,055,029
$2.1M
Cap Rate 9%
$1,598,356
$1.6M
Market Conditions
NOI Build-Up for 4,712 SF
Gross rent
$266.9K $56.64/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$261.5K $55.51/SF
− OpEx
−$117.7K −$24.98/SF
NOI
$143.9K $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 Rate 5%
$2,877,040
Cap Rate 7%
$2,055,029
Cap Rate 9%
$1,598,356
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $143,852 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.90M
$3.41M – $4.55M
NOI $273,108 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,506
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property in Brooklyn’s 11233 ZIP code with free-market positioning.
Where is this multifamily property located?
The property is located at 579 Decatur Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Fully free‑market multifamily property; 579 Decatur Street, Brooklyn, NY 11233
