Prospect Heights Three-Family
584 Sterling Pl Brooklyn, NY 11238
584 Sterling Pl, Brooklyn, NY, 11238
$3,500,000
For Sale
$3,500,000
Classic Brooklyn townhouse with income potential in prime location.
Property Size3,840 SF
Price / SF$911.46
Days on Market85
Property Features for 584 Sterling Pl
General Information
- Standard status
- Active
- Size
- 3,840 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1910
Listing Agency
Charles Rutenberg Realty, Inc.
(917) 346-2686
Listed by
Anthony E. Dabreu · License #10301211356
(917) 346-2686
Source
Elliman
Added: Apr 24 Checked: Jul 16 at 11:19 am
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 Charles Rutenberg Realty, Inc.
Investment Insights
Based on property information with market context.
Located in Prospect Heights, Brooklyn, 584 Sterling Place is a three-family townhouse on a tree-lined block. This expansive residence offers a blend of architectural charm with living and income potential. The property spans approximately 3,840 square feet and is configured with three residences. All units feature separate gas and electric meters and steam heat. The triplex features hardwood floors and high ceilings. The garden level offers a living and dining area that flows to a bedroom, with views of a backyard. The upper floors include a two-bedroom apartment along with two studio/office spaces. The separate-entrance basement provides storage. The property is located moments from Prospect Park, the Brooklyn Botanic Garden, Grand Army Plaza, and cultural institutions such as the Brooklyn Museum and Brooklyn Public Library. The location offers access to neighborhood restaurants and the dining and shopping corridors of Vanderbilt and Washington Avenues. Commuting is effortless with access to the 2, 3, 4, 5, B, D, N, Q, and R subway lines at Atlantic Terminal, as well as proximity to Barclays Center, Downtown Brooklyn, and Manhattan’s Financial District. The property has a bike score of 76, walk score of 95, and transit score of 100.
Key Highlights
- Prime Prospect Heights location: close to Prospect Park, Brooklyn Botanic Garden, Grand Army Plaza, cultural institutions, and vibrant dining/shopping.
- Excellent Transit: Rider's Paradise with a transit score of 100 and access to multiple subway lines.
- Three‑family townhouse: offers flexible living arrangements and income potential.
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 | $195.8k | $51.00 |
| − Vacancy | −$3.7k | −$0.97 |
| EGI | $192.1k | $50.03 |
| − OpEx | −$57.6k | −$15.01 |
| NOI | $134.5k | $35.02 |
3,840 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,483 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$1.67M
$1.47M – $1.95M
NOI $117,231 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$3.18M
$2.78M – $3.71M
NOI $222,566 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Classic Brooklyn townhouse with income potential in prime location.
Where is this triplex located?
The property is located at 584 Sterling Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime Prospect Heights location: close to Prospect Park, Brooklyn Botanic Garden, Grand Army Plaza, cultural institutions, and vibrant dining/shopping.; Excellent Transit: Rider's Paradise with a transit score of 100 and access to multiple subway lines.; Three‑family townhouse: offers flexible living arrangements and income potential.
