Corner Retail and Residential
62 3rd Street, Brooklyn, NY 11231
- Added:
- Mar 24, 2023
- Days on Market:
- 1198
- Last Refresh:
- Jul 3 at 12:06 am
Property Features for 62 3rd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 3
- Standard status
- Active Under Contract
Building Details
- Architectural style
- Other
Listing agent Paul Murphy
Listing office Compass 3rd floor 90 Fifth Avenue, 3rd Floor, New York, NY (646) 982-0353
Listing date Mar 24, 2023
MLS# 11510164
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Built in 1867, this corner property includes a 5,000 SF, 4‑story townhouse at 62 3rd St and a 1,000 SF carriage house at 392 Hoyt St.
- Lot dimensions: 22.9 ft wide at the front on 3rd St, 28.8 ft wide at the back, and 81.3 ft deep along Hoyt St—both buildings on the same lot.
- Carriage house at 392 Hoyt St includes parking for 3 cars.
- 62 3rd St features a retail space with original cornice intact and ceilings close to 12 ft, wrapping around the corner of Hoyt St.
- Full basement under 62 3rd St has unusually high 9‑ft ceilings and includes stairs to Hoyt St.
- Three spacious floor‑through apartments above, with top‑floor windows offering panoramic views of Carroll Gardens, the Gowanus, and Park Slope.
Overview
Built in 1867 by a carpenter and builder from England named George H. Heath, this corner property comprises two buildings on the same lot: a 5,000 sf, four-story townhouse at 62 3rd Street and a 1,000 sf carriage house at 392 Hoyt Street with parking for three cars. The townhouse includes retail space with ceilings close to 12 feet high and wraparound frontage along the Hoyt Street corner, along with a full basement featuring unusually high 9-foot ceilings and stairs to Hoyt Street. Above the retail level are three spacious, sunny floor-through apartments with high ceilings and windows on three sides, and top-floor windows facing panoramic views of Carroll Gardens, the Gowanus, and Park Slope. A roof deck is a potential feature.
The property sits at the crossroads of Carroll Gardens and the Gowanus. Smith Street’s established boutiques and restaurants are about two blocks to the west, and a short stroll down the hill brings Whole Foods and the restaurants and bars of the Gowanus. Public transit is nearby, with the F and G trains reportedly just a block away.
For a buyer or operator, the ground-floor space offers flexibility for use as a store, gallery, office, or other purpose, with the option to renovate toward residential conversion. The upper floors provide three floor-through apartments, and the carriage house adds additional enclosed space and dedicated parking for three cars.
The property sits at the crossroads of Carroll Gardens and the Gowanus. Smith Street’s established boutiques and restaurants are about two blocks to the west, and a short stroll down the hill brings Whole Foods and the restaurants and bars of the Gowanus. Public transit is nearby, with the F and G trains reportedly just a block away.
For a buyer or operator, the ground-floor space offers flexibility for use as a store, gallery, office, or other purpose, with the option to renovate toward residential conversion. The upper floors provide three floor-through apartments, and the carriage house adds additional enclosed space and dedicated parking for three cars.
Local Financial Insights For Retail
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 | $466.6k | $77.76 |
| − Vacancy | −$55.5k | −$9.25 |
| EGI | $411.0k | $68.51 |
| − OpEx | −$123.3k | −$20.55 |
| NOI | $287.7k | $47.95 |
6,000 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.11M
$3.60M – $4.80M
NOI $287,728 @ 7.0% cap · market cap 7.19%
Second Best
Multifamily LT 5
$3.00M
$2.63M – $3.50M
NOI $210,130 @ 7.0% cap · market cap 5.25%
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
rafeal cosme echerivva
Apartment Building
Tia Williamsburg
Medical Clinic
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.993963
- Latitude
- 40.677735
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Four-story corner townhouse with near-12-foot retail ceilings and three apartments above, plus a 3-car parking carriage house.
Where is this triplex located?
The property is located at 62 3rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Built in 1867, this corner property includes a 5,000 SF, 4‑story townhouse at 62 3rd St and a 1,000 SF carriage house at 392 Hoyt St.; Lot dimensions: 22.9 ft wide at the front on 3rd St, 28.8 ft wide at the back, and 81.3 ft deep along Hoyt St—both buildings on the same lot.; Carriage house at 392 Hoyt St includes parking for 3 cars.
