Spacious Co-op Overlooking Owls
For Sale
$349,900
6665 Colonial Road 5-D, Brooklyn, NY 11220
Sun-filled 2-bedroom co-op with park and harbor views.
Property Size750 SF
Price / SF$466.53
Days on Market285
Property Features for 6665 Colonial Road 5-D
General Information
Standard status
Active
Size
750 SF
Property subtype
Apartment
Building Details
Building Size
750 SF
Year Built
1954
Listing Agency:
Keller Williams Realty Empire
Listed By:
Michelle I Epstein
(718) 954-8400
Source:
Miradorrealestate
Added: Nov 28, 2025
Changed: Sep 4
Last Checked: Sep 8 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 Realty Empire
Investment Insights
Based on property information with market context.
This sun-filled 2-bedroom co-op apartment offers 1,000 sq. ft. of living space and is located in a highly sought-after building facing Owls Head Park and the NY Harbor. The unit features a spacious foyer, an oversized living/dining room, and an eat-in kitchen with plenty of cabinetry and a cozy built-in booth. The primary bedroom includes a custom-built-in wall-to-wall closet system. Several other extra-deep closets throughout the apartment provide ample storage. The building is pet-friendly (upon approval) and offers on-site parking (short wait list), additional storage, a live-in super, and laundry in the basement. Maintenance includes all utilities. The property is within steps of the Bay Ridge Botanical Gardens, bicycle and running paths, the express bus on Shore Road, and the NYC Ferry, and is close to the subway.
Key Highlights
- Spacious 2‑bedroom apartment with 1,000 sq. ft. of living space.
- Located directly facing Owls Head Park and the NY Harbor.
- Eat‑in kitchen with ample cabinetry and built‑in booth.
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
$20,000
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
5.72%
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%
$400,000
$400.0K
Cap Rate 7%
$285,714
$285.7K
Cap Rate 9%
$222,222
$222.2K
Market Conditions
NOI Build-Up for 750 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
$37.8K $50.40/SF
− Vacancy
−$1.4K −$1.92/SF
EGI
$36.4K $48.48/SF
− OpEx
−$16.4K −$21.82/SF
NOI
$20.0K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /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%
$400,000
Cap Rate 7%
$285,714
Cap Rate 9%
$222,222
Alternative Uses
Best Use
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $20,000 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$486.2K
$425.4K – $567.2K
NOI $34,034 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,396
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?
Apartment building - Sun-filled 2-bedroom co-op with park and harbor views.
Where is this apartment building located?
The property is located at 6665 Colonial Road 5-D Brooklyn, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Spacious 2‑bedroom apartment with 1,000 sq. ft. of living space.; Located directly facing Owls Head Park and the NY Harbor.; Eat‑in kitchen with ample cabinetry and built‑in booth.
