Brick Duplex With Finished
For Sale
$1,899,000
665 59th Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size2,108 SF
Lot Size0.05 Acres
Price / SF$900.85
Days on Market70
Property Features for 665 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sunset Park
Standard status
Active
Size
2,108 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8552
Amenities
private backyard
Building Details
Year built
1935
Floors in Building
2
Flooring type
Laminate, Tile, Hardwood
Building materials
Brick, Masonry
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Added: Jun 18
Changed: Aug 23
Last Checked: Aug 26 at 8:06AM
MLS# 502404
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains two three-bedroom apartments, with one residence on each of the first two floors. A full finished basement has a separate front entrance and adds usable interior space. The property includes window A/C units, a refrigerator, and a stove, with hardwood, tile, and laminate flooring throughout. Recent improvements include two hot water heaters, upgraded electrical panels, and a renovated bathroom. A private backyard provides additional outdoor space.
Located at 665 59th Street in Brooklyn, the property is near shopping, restaurants, supermarkets, schools, and public transportation. The building sits on a 20-foot by 100-foot lot and carries R6B zoning. Construction is brick and masonry, with a flat roof; the property was built in 1935.
Located at 665 59th Street in Brooklyn, the property is near shopping, restaurants, supermarkets, schools, and public transportation. The building sits on a 20-foot by 100-foot lot and carries R6B zoning. Construction is brick and masonry, with a flat roof; the property was built in 1935.
Key Highlights
- Two‑family brick duplex with 2,108 square feet of property size
- Two 3‑bedroom apartments, one on the first floor and one on the second floor
- Full finished basement with a separate front entrance
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
$62,765
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
3.31%
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%
$1,255,300
$1.3M
Cap Rate 7%
$896,643
$896.6K
Cap Rate 9%
$697,389
$697.4K
Market Conditions
NOI Build-Up for 2,108 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
$93.6K $44.40/SF
− Vacancy
−$3.9K −$1.86/SF
EGI
$89.7K $42.54/SF
− OpEx
−$26.9K −$12.76/SF
NOI
$62.8K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,255,300
Cap Rate 7%
$896,643
Cap Rate 9%
$697,389
Alternative Uses
Best Use
Multifamily LT 5
$896.6K
$784.6K – $1.05M
NOI $62,765 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$803.0K
$702.7K – $936.9K
NOI $56,213 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,659 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Two three-bedroom apartments sit above a full basement with its own separate front entrance.
Where is this duplex located?
The property is located at 665 59th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Two‑family brick duplex with 2,108 square feet of property size; Two 3‑bedroom apartments, one on the first floor and one on the second floor; Full finished basement with a separate front entrance
