Greenpoint 6-Family Investment
For Sale
Contact for pricing
596 Humboldt St, Brooklyn, NY 11222
Well-maintained 6-family building in prime Greenpoint location.
Property Size3,750 SF
Lot Size0.06 Acres
Price / SF$453.07
Days on Market180
Property Features for 596 Humboldt St
General Information
Standard status
Active
Size
3,750 SF
Lot size
0.06 Acres
Property subtype
Multifamily
Zoning
R6B
Investment Type
Stabilized
Building Details
Year Built
1928
Buildings
1
Stories
3
Units
6
Listing Agency:
Capri Jet Realty Corp
(718) 388-2188
Listed By:
Agata Landa · License #NY 10401298444
Source:
Crexi
Added: Mar 2
Changed: Aug 13
Last Checked: Aug 29 at 1:13PM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This well-maintained 6-family rent-stabilized building presents an investment opportunity in Greenpoint. The property features six spacious two-bedroom railroad-style apartments. Three of the units have been renovated. Apartment #1L is the owner’s unit and is free market, featuring private access to the backyard and exclusive use of the basement for owner storage. DHCR paperwork is in order. The building is 25 ft x 50 ft and sits on a 25 ft x 100 ft lot. The zoning is R6B with a FAR of 1.5 and a Max FAR of 2. Located on Humboldt Street, the property is near cafes, restaurants, shopping, and transportation options. It is one block from McGolrick Park and steps from McCarren Park, with proximity to the Nassau Ave G train and Metropolitan Ave L train stations. The property size is 3750 square feet. Taxes are $14,049 per year.
Key Highlights
- Strong income potential in a desirable Greenpoint location.
- Rent‑stabilized 6‑family building with long‑term upside.
- Owner's unit (#1L) is free market with private backyard access and exclusive basement storage.**
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
$114,484
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
6.74%
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%
$2,289,680
$2.3M
Cap Rate 7%
$1,635,486
$1.6M
Cap Rate 9%
$1,272,044
$1.3M
Market Conditions
NOI Build-Up for 3,750 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
$212.4K $56.64/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$208.2K $55.51/SF
− OpEx
−$93.7K −$24.98/SF
NOI
$114.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,289,680
Cap Rate 7%
$1,635,486
Cap Rate 9%
$1,272,044
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,484 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.10M
$2.72M – $3.62M
NOI $217,350 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
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 - Well-maintained 6-family building in prime Greenpoint location.
Where is this apartment building located?
The property is located at 596 Humboldt St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Strong income potential in a desirable Greenpoint location.; Rent‑stabilized 6‑family building with long‑term upside.; Owner's unit (#1L) is free market with private backyard access and exclusive basement storage.**
