Five-Family Brick Apartment
656 Henry St New York, NY 10038
656 Henry St, New York, NY, 10038
$2,680,000
For Sale
$2,680,000
Legal 5-family brick building with a full basement, oversized windows, and a brand-new roof.
Property Size3,729 SF
Lot Size0.05 Acres
Price / SF$718.69
Days on Market190
Property Features for 656 Henry St
General Information
- Standard status
- Active
- Size
- 3,729 SF
- Lot size
- 0.05 Acres
Listing agency
Keller Williams Rlty Landmark
(718) 475-2700
Listed by
King Hong Chin
(718) 475-2700
Source
Exprealty
Added: Jan 13 Updated: Jul 21 at 11:34PM Checked: Jul 22 at 7:49AM
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 Keller Williams Rlty Landmark
Investment Insights
Based on property information with market context.
This legal 5-family apartment building offers three stories plus a full basement on a 26.5’ x 75’ lot, with a classic brick facade and period details. The building includes one 3-bedroom unit (vacant) and four 1-bedroom units, three of which are vacant, with high ceilings and oversized windows throughout. A full basement provides additional utility and flexibility for day-to-day building operations. The property also includes an expansive private backyard.
Located at 656 Henry St in Carroll Gardens, the building is described as steps from Smith Street dining and shopping, near the Bergen St F/G trains, and with easy access to the BQE.
With a brand-new roof and a solid structure, the property is positioned for investor use, whether aimed at rental income or future flexibility based on the existing unit configuration.
Located at 656 Henry St in Carroll Gardens, the building is described as steps from Smith Street dining and shopping, near the Bergen St F/G trains, and with easy access to the BQE.
With a brand-new roof and a solid structure, the property is positioned for investor use, whether aimed at rental income or future flexibility based on the existing unit configuration.
Key Highlights
- Legal 5‑family brick building with a full basement on a 26.5’ x 75’ lot
- 3,729 SF across three stories, with classic brick façade and period details
- Unit mix: one 3‑bedroom unit (vacant) and four 1‑bedroom units (three vacant)
Local Financial Insights For Apartment 5plus
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 | $223.3k | $59.88 |
| − Vacancy | −$11.2k | −$2.99 |
| EGI | $212.1k | $56.89 |
| − OpEx | −$95.5k | −$25.60 |
| NOI | $116.7k | $31.29 |
3,729 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.94M
NOI $116,670 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.28M
$8.12M – $10.83M
NOI $649,741 @ 7.0% cap · market cap 24.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Legal 5-family brick building with a full basement, oversized windows, and a brand-new roof.
Where is this apartment building located?
The property is located at 656 Henry St New York, NY.
What is the asking price?
The asking price for this property is $2,680,000.
What are key features of this property?
This property features: Legal 5‑family brick building with a full basement on a 26.5’ x 75’ lot; 3,729 SF across three stories, with classic brick façade and period details; Unit mix: one 3‑bedroom unit (vacant) and four 1‑bedroom units (three vacant)
