Prospect Heights Three-Family
For Sale
$3,500,000
584 Sterling Pl, Brooklyn, NY 11238
Classic Brooklyn townhouse with income potential in prime location.
Property Size3,840 SF
Price / SF$911.46
Days on Market434
Property Features for 584 Sterling Pl
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Multi-Family
Building Details
Year Built
1910
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Anthony E. Dabreu rpfeffer@crrli.net · License #10301211356
(917) 346-2686
Source:
Searchhomesinlongisland
Added: Aug 15, 2025
Changed: Oct 1
Last Checked: Oct 20 at 9:08PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,483
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,689,660
$2.7M
Cap Rate 7%
$1,921,186
$1.9M
Cap Rate 9%
$1,494,256
$1.5M
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$195.8K $51.00/SF
− Vacancy
−$3.7K −$0.97/SF
EGI
$192.1K $50.03/SF
− OpEx
−$57.6K −$15.01/SF
NOI
$134.5K $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 Rate 5%
$2,689,660
Cap Rate 7%
$1,921,186
Cap Rate 9%
$1,494,256
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 authorities.
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Location Intelligence
Trade Area within ½ mile
5,642
Businesses Nearby
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Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
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
Frequently Asked Questions
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.
