8-Unit Residential Walk-Up
59 Newell St Brooklyn, NY 11222
For Sale
$2,988,000
Four-story walk-up includes eight rent-stabilized 2-bedroom units and a full basement on a 25' x 80' footprint.
Property Size8,000 SF
Price / SF$373.50
Days on Market39
Property Features for 59 Newell St
General Information
- Standard status
- Active
- Size
- 8,000 SF
Listing Agency:
Trademarko Realty Inc
(347) 647-6397
Listed By:
Malgorzata A. Pieniadz CBR
(347) 647-6397
Source:
Exprealty
Added: Jun 17
Changed: Jul 22
Last Checked: Jul 25 at 6:41PM
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 Trademarko Realty Inc
Investment Insights
Based on property information with market context.
This four-story walk-up multifamily building at 59 Newell Street contains eight rent-stabilized residential units. Each unit is configured with two bedrooms, a bright living room, a full bathroom, and a separate kitchen. The property also includes a full basement for additional storage and operational flexibility. The offering is being sold as-is.
The building is located in Brooklyn and identified as being within R6B zoning. The property footprint is noted as 25' x 80', and the interior space is described as approximately 8,000 square feet.
The building’s layout is designed for consistent residential use, with all eight units sharing a similar two-bedroom plan and separate kitchen configuration, supported by the full-basement space below.
The building is located in Brooklyn and identified as being within R6B zoning. The property footprint is noted as 25' x 80', and the interior space is described as approximately 8,000 square feet.
The building’s layout is designed for consistent residential use, with all eight units sharing a similar two-bedroom plan and separate kitchen configuration, supported by the full-basement space below.
Key Highlights
- Four‑story walk‑up multifamily on a 25' x 80' building footprint in Brooklyn
- 8 rent‑stabilized residential units, each with 2 bedrooms, a bright living room, full bath, and separate kitchen
- Approximately 8,000 SF of interior space
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 | $453.1k | $56.64 |
| − Vacancy | −$9.1k | −$1.13 |
| EGI | $444.1k | $55.51 |
| − OpEx | −$199.8k | −$24.98 |
| NOI | $244.2k | $30.53 |
8,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.49M
$3.05M – $4.07M
NOI $244,232 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.62M
$5.80M – $7.73M
NOI $463,680 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Four-story walk-up includes eight rent-stabilized 2-bedroom units and a full basement on a 25' x 80' footprint.
Where is this apartment building located?
The property is located at 59 Newell St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,988,000.
What are key features of this property?
This property features: Four‑story walk‑up multifamily on a 25' x 80' building footprint in Brooklyn; 8 rent‑stabilized residential units, each with 2 bedrooms, a bright living room, full bath, and separate kitchen; Approximately 8,000 SF of interior space
