Six-Unit Multifamily
For Sale
$1,478,000
59 Bay 22nd Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size5,544 SF
Lot Size0.07 Acres
Price / SF$266.59
Days on Market318
Property Features for 59 Bay 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 4, Bedroom 11, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 10, Bathroom 3, Bathroom 5, Bedroom 7, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 8, Bedroom 9
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
5,544 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
22593
Building Details
Year built
1925
Floors in Building
3
Number of units
6
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber, Flat
Listing Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
Anthony Mussolino
(718) 680-6442
Added: Sep 22, 2025
Changed: Aug 3
Last Checked: Aug 5 at 8:06PM
MLS# 495901
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit, semi-detached brick apartment building is configured as five two-bedroom apartments plus one one-bedroom apartment. The home has basement front and rear entrances, and interior features include a refrigerator and stove. Floors include hardwood and tile.
The property sits on a 0.0688-acre lot and is zoned R5. Built in 1925, the roof is eight years old and the heating system is six years old. The annual rent roll is $94,200 with increases coming up.
With its straightforward six-unit layout and long-standing residential improvements, the building can be evaluated for multifamily financing and ownership strategies, including a 1031 Exchange.
The property sits on a 0.0688-acre lot and is zoned R5. Built in 1925, the roof is eight years old and the heating system is six years old. The annual rent roll is $94,200 with increases coming up.
With its straightforward six-unit layout and long-standing residential improvements, the building can be evaluated for multifamily financing and ownership strategies, including a 1031 Exchange.
Key Highlights
- Five two‑bedroom units plus one one‑bedroom unit in a six‑unit setup
- 0.0688‑acre lot; zoned R5
- Basement includes front and rear entrances
Financial Insights For Apartment 5plus
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 | $256.1k | $46.20 |
| − Vacancy | −$9.7k | −$1.76 |
| EGI | $246.4k | $44.44 |
| − OpEx | −$110.9k | −$20.00 |
| NOI | $135.5k | $24.44 |
5,544 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.69M – $2.26M
NOI $135,520 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,387 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,961
Businesses Nearby
Explore this area
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
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 - Six-unit, brick apartment building zoned R5 with basement front and rear entrances and roof eight years old.
Where is this apartment building located?
The property is located at 59 Bay 22nd Street 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: Five two‑bedroom units plus one one‑bedroom unit in a six‑unit setup; 0.0688‑acre lot; zoned R5; Basement includes front and rear entrances
