Duplex Residence with South-Facing
For Sale
$1,695,000
61 N HENRY Street GARDEN1, Brooklyn, NY 11222
Duplex condo with south-facing terrace featuring an outdoor kitchen and grill, plus an elevator entry into a spacious hall.
Property Size1,865 SF
Days on Market376
Property Features for 61 N HENRY Street GARDEN1
General Information
Standard status
Active
Size
1,865 SF
Property subtype
Duplex
Amenities
elevator
terrace
outdoor kitchen
in-unit washer and dryer
Building Details
Building Size
1,865 SF
Year Built
1920
Stories
2
Listing Agency:
Serhant
Listed By:
Raquel Lomonico
(561) 568-0297
Source:
Serhant
Added: Sep 8, 2025
Changed: Sep 8
Last Checked: Sep 18 at 1:06PM
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 Serhant
Investment Insights
Based on property information with market context.
GARDEN1 is a duplex residence spanning 1,865 SF with an elevator that opens directly into a generous entry hall, or a side staircase to the second floor. The entry level includes a custom closet for storage, a sleek custom kitchen with fully integrated appliances, and an open living and dining area that extends to the outdoors. The south-facing terrace offers an outdoor kitchen and grill.
Inside, rich oak flooring and natural oak cabinetry pair with radiant heated bathroom floors and custom built-ins throughout. A floating staircase connects both levels and functions as a built-in lightwell, bringing additional natural light through the home.
The lower level is arranged with a skylit bedroom via a walkable skylight, a windowed room suited for a home office or guest suite, and a media room with natural light, along with polished porcelain floors and a full bathroom. The home also includes an in-unit washer and dryer. Built in 1920, GARDEN1 is located at 61 N Henry Street, Brooklyn, NY 11222.
Inside, rich oak flooring and natural oak cabinetry pair with radiant heated bathroom floors and custom built-ins throughout. A floating staircase connects both levels and functions as a built-in lightwell, bringing additional natural light through the home.
The lower level is arranged with a skylit bedroom via a walkable skylight, a windowed room suited for a home office or guest suite, and a media room with natural light, along with polished porcelain floors and a full bathroom. The home also includes an in-unit washer and dryer. Built in 1920, GARDEN1 is located at 61 N Henry Street, Brooklyn, NY 11222.
Key Highlights
- Duplex residence spanning 1,865 SF
- Elevator opens directly into a generous entry hall
- South‑facing terrace with outdoor kitchen and grill
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
$65,315
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
3.85%
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%
$1,306,300
$1.3M
Cap Rate 7%
$933,071
$933.1K
Cap Rate 9%
$725,722
$725.7K
Market Conditions
NOI Build-Up for 1,865 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
$95.1K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$93.3K $50.03/SF
− OpEx
−$28.0K −$15.01/SF
NOI
$65.3K $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%
$1,306,300
Cap Rate 7%
$933,071
Cap Rate 9%
$725,722
Alternative Uses
Best Use
Multifamily LT 5
$933.1K
$816.4K – $1.09M
NOI $65,315 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$813.4K
$711.7K – $949.0K
NOI $56,937 @ 7.0% cap · market cap 3.36%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,095 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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?
Duplex - Duplex condo with south-facing terrace featuring an outdoor kitchen and grill, plus an elevator entry into a spacious hall.
Where is this duplex located?
The property is located at 61 N HENRY Street GARDEN1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Duplex residence spanning 1,865 SF; Elevator opens directly into a generous entry hall; South‑facing terrace with outdoor kitchen and grill
