Five-Story Loft Mixed-Use
676 Union St, Brooklyn, NY 11215
For Sale
New
$6,295,000
Two duplex residences sit above a ground-level atelier, with a garden and paved terrace behind the building.
Property Size8,150 SF
Price / SF$772.39
Days on Market2
Property Features for 676 Union St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
wood-burning fireplace
skylight
walkout bulkhead
garden
paved terrace
Building Details
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Corcoran Group
Listed By:
Behzad Amiri · License #10401224074
(718) 810-4012
Source:
Edifyny
Added: Nov 8
Changed: Nov 9
Last Checked: Nov 8 at 2:39PM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
This 8,150-square-foot, five-story mixed-use building was built in 1920 and measures 25 feet wide by 55 feet deep. Its current arrangement includes a ground-floor atelier and two duplex residences: a two-bedroom, two-bathroom home on the second and third floors, and a four-bedroom, two-bathroom home on the fourth and fifth floors. The lower residence includes an artist studio, open kitchen, wood-burning fireplace, and built-in shelving. The upper residence features 13-foot ceilings, arched windows, a skylight, and a fireplace. A full basement provides storage and utility space. A walkout bulkhead connects to the upper level; a roof deck is not currently identified as an existing feature.
The ground-level atelier opens toward an enclosed garden with a paved terrace. The property is in Park Slope, near al di la, Haenyo, Palo Santo, and Mars Cafe. The R train is less than a block away.
The ground-level atelier opens toward an enclosed garden with a paved terrace. The property is in Park Slope, near al di la, Haenyo, Palo Santo, and Mars Cafe. The R train is less than a block away.
Key Highlights
- 8,150‑square‑foot, five‑story mixed‑use building constructed in 1920
- 25‑foot‑wide by 55‑foot‑deep building footprint
- Two‑bedroom, two‑bathroom duplex on the second and third floors; four‑bedroom, two‑bathroom duplex above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$295,845
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,916,900
$5.9M
Cap Rate 7%
$4,226,357
$4.2M
Cap Rate 9%
$3,287,167
$3.3M
Market Conditions
NOI Build-Up for 8,150 SF
Gross rent
$537.9K $66.00/SF
− Vacancy
−$64.5K −$7.92/SF
EGI
$473.4K $58.08/SF
− OpEx
−$177.5K −$21.78/SF
NOI
$295.8K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,916,900
Cap Rate 7%
$4,226,357
Cap Rate 9%
$3,287,167
Alternative Uses
Best Use
Mixed Use
$4.23M
$3.70M – $4.93M
NOI $295,845 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$3.55M
$3.11M – $4.15M
NOI $248,811 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$6.75M
$5.90M – $7.87M
NOI $472,374 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
8,402
Businesses Nearby
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Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Brooklyn, NY
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two duplex residences sit above a ground-level atelier, with a garden and paved terrace behind the building.
Where is this mixed-use property located?
The property is located at 676 Union St Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,295,000.
What are key features of this property?
This property features: 8,150‑square‑foot, five‑story mixed‑use building constructed in 1920; 25‑foot‑wide by 55‑foot‑deep building footprint; Two‑bedroom, two‑bathroom duplex on the second and third floors; four‑bedroom, two‑bathroom duplex above
