Renovated Two-Family
For Sale
$2,395,000
596 Hancock Street, Brooklyn, NY 11233
Fully renovated four-level residence pairs an owner’s three-bedroom home with a separate garden apartment and finished basement.
Property Size2,607 SF
Price / SF$918.68
Days on Market38
Property Features for 596 Hancock Street
General Information
Standard status
Active
Size
2,607 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 1BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,437
Building Details
Building Size
2,607 SF
Year Built
1901
Buildings
1
Construction
brownstone
Listing Agency:
Compass
(917) 246-8581
Listed By:
Tali Berzak · License #10301209148
(917) 246-8581
Source:
Miradorrealestate
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 12 at 3:03PM
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 Compass
Investment Insights
Based on property information with market context.
This fully renovated two-family duplex property spans 2,607 square feet across four levels, including a finished basement. The primary residence is arranged as an owner’s duplex with three bedrooms, two full bathrooms, and a powder room. Its living and dining areas connect to an updated kitchen with custom cabinetry, premium appliances, stone counters, and extensive storage. Hardwood floors, oversized windows, and custom millwork are also featured throughout. The finished basement provides additional space for recreation, media, fitness, studio, or office use, along with storage.
A separate garden-level apartment includes one bedroom, one full bathroom, and a powder room. The property was built in 1901 and is located at 596 Hancock Street in Brooklyn’s Bedford-Stuyvesant neighborhood. Nearby destinations named in the property information include Saraghina, Peaches, L’Antagoniste, Trad Room, Chez Oskar, and Bar LunAtico, with local cafes, parks, and transportation options serving the surrounding area.
A separate garden-level apartment includes one bedroom, one full bathroom, and a powder room. The property was built in 1901 and is located at 596 Hancock Street in Brooklyn’s Bedford-Stuyvesant neighborhood. Nearby destinations named in the property information include Saraghina, Peaches, L’Antagoniste, Trad Room, Chez Oskar, and Bar LunAtico, with local cafes, parks, and transportation options serving the surrounding area.
Key Highlights
- 2,607‑square‑foot, four‑level two‑family residence
- Owner’s duplex includes 3 bedrooms, 2 full bathrooms, and a powder room
- Garden‑level apartment offers 1 bedroom, 1 full bathroom, and a powder room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,302
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,826,040
$1.8M
Cap Rate 7%
$1,304,314
$1.3M
Cap Rate 9%
$1,014,467
$1.0M
Market Conditions
NOI Build-Up for 2,607 SF
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.
Gross rent
$133.0K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$130.4K $50.03/SF
− OpEx
−$39.1K −$15.01/SF
NOI
$91.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,826,040
Cap Rate 7%
$1,304,314
Cap Rate 9%
$1,014,467
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,302 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$1.14M
$994.9K – $1.33M
NOI $79,589 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $151,102 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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?
Duplex - Fully renovated four-level residence pairs an owner’s three-bedroom home with a separate garden apartment and finished basement.
Where is this duplex located?
The property is located at 596 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 2,607‑square‑foot, four‑level two‑family residence; Owner’s duplex includes 3 bedrooms, 2 full bathrooms, and a powder room; Garden‑level apartment offers 1 bedroom, 1 full bathroom, and a powder room
