6-Unit Multifamily Building with
For Sale
Contact for pricing
65 Jewel St, Brooklyn, NY 11222
Six-unit multifamily building on a 25' x 100' lot with a free-market 1-bedroom featuring a private patio and backyard.
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$455
Days on Market130
Property Features for 65 Jewel St
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.06 Acres
Property subtype
Mixed Use
Additional Details
Cap Rate
6.2%
Multifamily Units
6
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
GRAVITY REAL ESTATE ADVISORS LLC
Listed By:
Dimitrios Kapelonis
(917) 579-1373
Source:
Crexi
Added: May 5
Changed: Aug 13
Last Checked: Sep 10 at 5:29AM
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 GRAVITY REAL ESTATE ADVISORS LLC
Investment Insights
Based on property information with market context.
Well-located six-unit multifamily building at 65 Jewel St in Greenpoint, Brooklyn, situated on a 25' x 100' lot. The building includes a free-market 1-bedroom (Unit 1R) that offers a private patio and access to a full backyard, creating an outdoor-focused layout for everyday use.
The property is described as being in the heart of Greenpoint, with convenient access to transportation, retail, and dining, and easy routes to Williamsburg and Manhattan.
The offering is presented with strong in-place income and a projected 6.2% pro forma cap rate.
The property is described as being in the heart of Greenpoint, with convenient access to transportation, retail, and dining, and easy routes to Williamsburg and Manhattan.
The offering is presented with strong in-place income and a projected 6.2% pro forma cap rate.
Key Highlights
- 6‑unit multifamily building built in 1930 on a 25' x 100' lot
- Includes a free‑market 1‑bedroom (Unit 1R) with a private patio and access to a full backyard
- Projected 6.2% pro forma cap rate
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
$152,645
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
6.71%
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%
$3,052,900
$3.1M
Cap Rate 7%
$2,180,643
$2.2M
Cap Rate 9%
$1,696,056
$1.7M
Market Conditions
NOI Build-Up for 5,000 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
$283.2K $56.64/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$277.5K $55.51/SF
− OpEx
−$124.9K −$24.98/SF
NOI
$152.6K $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%
$3,052,900
Cap Rate 7%
$2,180,643
Cap Rate 9%
$1,696,056
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,645 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,800 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,970
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily building on a 25' x 100' lot with a free-market 1-bedroom featuring a private patio and backyard.
Where is this apartment building located?
The property is located at 65 Jewel St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: 6‑unit multifamily building built in 1930 on a 25' x 100' lot; Includes a free‑market 1‑bedroom (Unit 1R) with a private patio and access to a full backyard; Projected 6.2% pro forma cap rate
