Five-Family Brick Apartment
For Sale
$2,680,000
656 Henry St, New York, NY 10038
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 Market284
Property Features for 656 Henry St
General Information
Standard status
Active
Size
3,729 SF
Lot size
0.05 Acres
Site & Location
Neighborhood
Manhattan
Highway Access
Yes
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,185
Amenities
private backyard
high ceilings
oversized windows
Building Details
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Keller Williams Rlty Landmark
Listed By:
King Hong Chin
(718) 475-2700
Source:
Exprealty
Added: Jan 13
Changed: Oct 2
Last Checked: Oct 23 at 11:32AM
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
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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)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,670
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,333,400
$2.3M
Cap Rate 7%
$1,666,714
$1.7M
Cap Rate 9%
$1,296,333
$1.3M
Market Conditions
NOI Build-Up for 3,729 SF
Gross rent
$223.3K $59.88/SF
− Vacancy
−$11.2K −$2.99/SF
EGI
$212.1K $56.89/SF
− OpEx
−$95.5K −$25.60/SF
NOI
$116.7K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,333,400
Cap Rate 7%
$1,666,714
Cap Rate 9%
$1,296,333
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 authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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)
