Bensonhurst Six-Family Brick
For Sale
$1,478,000
59 Bay 22nd St, Brooklyn, NY 11214
Semi-detached, well-maintained building near 86th Street corridor.
Property Size5,544 SF
Lot Size0.07 Acres
Price / SF$268.73
Days on Market227
Property Features for 59 Bay 22nd St
General Information
Standard status
Active
Size
5,544 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$22,593
Building Details
Building Size
5,544 SF
Year Built
1925
Stories
3
Listing Agency:
Ben Bay Realty Co
Listed By:
Anthony Mussolino
(718) 238-6080
Source:
Elliman
Added: Mar 11
Changed: Oct 23
Last Checked: Oct 23 at 10:01AM
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 Ben Bay Realty Co
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Investment Insights
Based on property information with market context.
This semi-detached brick building in Bensonhurst features six apartments: five two-bedroom units and one one-bedroom unit. The property is located steps from the 86th Street corridor and within a minute of local and express buses, as well as the D train. Built in 1925, the building is well-maintained and offers a potential investment opportunity. The basement has front and rear entrances. The roof is eight years old, and the heating system is six years old. The lot size is 31' x 97', and the house size is 24' x 77', totaling over 5,500 square feet, plus the basement. The annual rent roll is $94,200 with upcoming increases. The property is suitable for a 1031 Exchange. Taxes are $22,593.
Key Highlights
- High Annual Rent Roll: $94,200 with potential for increases.
- Prime Location: Steps from 86th Street, buses, and the D train.
- Extra Wide Semi‑Detached 6‑Family Brick Home.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,444
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,688,880
$2.7M
Cap Rate 7%
$1,920,629
$1.9M
Cap Rate 9%
$1,493,822
$1.5M
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$254.1K $46.20/SF
− Vacancy
−$9.7K −$1.76/SF
EGI
$244.4K $44.44/SF
− OpEx
−$110.0K −$20.00/SF
NOI
$134.4K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,688,880
Cap Rate 7%
$1,920,629
Cap Rate 9%
$1,493,822
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,444 @ 7.0% cap · market cap 9.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,590 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,961
Businesses Nearby
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Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Apartment building - Semi-detached, well-maintained building near 86th Street corridor.
Where is this apartment building located?
The property is located at 59 Bay 22nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,478,000.
What are key features of this property?
This property features: High Annual Rent Roll: $94,200 with potential for increases.; Prime Location: Steps from 86th Street, buses, and the D train.; Extra Wide Semi‑Detached 6‑Family Brick Home.
