Renovated Two-Bedroom Residential
For Sale
$640,000
599 E 7th Street 3U, Brooklyn, NY 11218
Updated corner apartment with flexible living space, abundant closets, and access to elevator-building amenities.
Property Size1,050 SF
Price / SF$609.52
Days on Market33
Property Features for 599 E 7th Street 3U
General Information
Standard status
Active
Size
1,050 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Amenities
laundry rooms
storage
bike room
common outdoor space
indoor garage
Building Details
Building Size
1,050 SF
Year Built
1961
Listing Agency:
Abacus Properties LLC
Listed By:
Jeff S Surowka
(718) 284-4400
Source:
Carlinwright
Added: Sep 7
Changed: Oct 8
Last Checked: Oct 7 at 4:10PM
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 Abacus Properties LLC
Investment Insights
Based on property information with market context.
This 1,050-square-foot corner apartment offers two bedrooms and one bathroom within a 1961 elevator building. The residence has been renovated with refinished hardwood floors, a windowed kitchen featuring stainless steel appliances, quartz countertops, wood cabinetry, and floating shelves, plus a coordinated bathroom update. Dual exposures bring natural light into the layout, while the bedrooms sit at opposite ends of the apartment and provide full-wall closet storage. The living and dining area extends more than 30 feet and can accommodate multiple seating or work arrangements.
Building amenities include a part-time doorman, live-in superintendent, two laundry rooms, resident storage, a bike room, an indoor garage with a current waitlist, and shared outdoor space. The property is near Cortelyou Road in the Ditmas Park vicinity, with restaurants, shopping, transportation options, and Prospect Park within walking distance. Access includes the B, F, and Q trains and express buses. This is a sponsor sale with no board approval required. The building does not permit pets.
Building amenities include a part-time doorman, live-in superintendent, two laundry rooms, resident storage, a bike room, an indoor garage with a current waitlist, and shared outdoor space. The property is near Cortelyou Road in the Ditmas Park vicinity, with restaurants, shopping, transportation options, and Prospect Park within walking distance. Access includes the B, F, and Q trains and express buses. This is a sponsor sale with no board approval required. The building does not permit pets.
Key Highlights
- 1,050‑square‑foot renovated corner apartment
- Two bedrooms and one bathroom with bedrooms positioned at opposite ends
- Windowed kitchen with stainless steel appliances, quartz counters, and wood cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,055
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,100
$641.1K
Cap Rate 7%
$457,929
$457.9K
Cap Rate 9%
$356,167
$356.2K
Market Conditions
NOI Build-Up for 1,050 SF
Gross rent
$59.5K $56.64/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$58.3K $55.51/SF
− OpEx
−$26.2K −$24.98/SF
NOI
$32.1K $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 Rate 5%
$641,100
Cap Rate 7%
$457,929
Cap Rate 9%
$356,167
Alternative Uses
Best Use
Apartment 5plus
$457.9K
$400.7K – $534.3K
NOI $32,055 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$869.4K
$760.7K – $1.01M
NOI $60,858 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,746
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated corner apartment with flexible living space, abundant closets, and access to elevator-building amenities.
Where is this residential income property located?
The property is located at 599 E 7th Street 3U Brooklyn, NY.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 1,050‑square‑foot renovated corner apartment; Two bedrooms and one bathroom with bedrooms positioned at opposite ends; Windowed kitchen with stainless steel appliances, quartz counters, and wood cabinetry
