Renovated Loft Triplex
For Sale
$6,850,000
676 Union Street TH, Brooklyn, NY 11215
Other - Brooklyn, NY
Property Size6,500 SF
Price / SF$1,053
Days on Market35
Property Features for 676 Union Street TH
General Information
Property type
Other
Property subtype
Multi Family
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
EntryLevel
TH
Exterior features
Garden, Private Yard
Subdivision
Park Slope
View
City, Park
Standard status
Active
APN
00955-0037
Size
6,500 SF
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Engel & Völkers New York City
(212) 616-7600
Listed By:
Donald P. Brennan, Jr.
(212) 616-7600
Added: Jul 7
Changed: Jul 15
Last Checked: Aug 10 at 8:06AM
MLS# RLS20069098
Copyright © 2026 Engel & Völkers. 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.
Renovated loft building configured as two expansive duplex residences and a dedicated gallery/studio space. The residences total six bedrooms and five-and-a-half bathrooms and feature soaring ceilings, oversized windows, wood-burning fireplaces, and abundant natural light. Custom wood staircases connect each level, supporting an open, connected flow throughout the interior.
The ground-floor gallery/studio includes a private entrance, kitchenette, and powder room, offering independent use while remaining part of the overall property. Outdoor space includes a private rooftop terrace and a south-facing courtyard at the garden level with a Mediterranean-inspired design.
Located at 676 Union Street in Brooklyn, the property is described as a 25-foot-wide building with approximately 6,500 square feet of renovated space. The building has been restored from the brick out with modern infrastructure and high-quality finishes.
The ground-floor gallery/studio includes a private entrance, kitchenette, and powder room, offering independent use while remaining part of the overall property. Outdoor space includes a private rooftop terrace and a south-facing courtyard at the garden level with a Mediterranean-inspired design.
Located at 676 Union Street in Brooklyn, the property is described as a 25-foot-wide building with approximately 6,500 square feet of renovated space. The building has been restored from the brick out with modern infrastructure and high-quality finishes.
Key Highlights
- Renovated 25‑foot‑wide loft building at 676 Union Street in Park Slope, built in 1920
- Approximately 6,500 SF configured as two duplex residences plus a dedicated gallery/studio
- Layout includes 6 bedrooms and 5.5 bathrooms, offering flexible use for end users or investors
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
$227,641
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
3.32%
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%
$4,552,820
$4.6M
Cap Rate 7%
$3,252,014
$3.3M
Cap Rate 9%
$2,529,344
$2.5M
Market Conditions
NOI Build-Up for 6,500 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
$331.5K $51.00/SF
− Vacancy
−$6.3K −$0.97/SF
EGI
$325.2K $50.03/SF
− OpEx
−$97.6K −$15.01/SF
NOI
$227.6K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$4,552,820
Cap Rate 7%
$3,252,014
Cap Rate 9%
$2,529,344
Alternative Uses
Best Use
Multifamily LT 5
$3.25M
$2.85M – $3.79M
NOI $227,641 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$2.83M
$2.48M – $3.31M
NOI $198,438 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,740 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,402
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated loft building with two duplex residences and a ground-floor gallery/studio plus rooftop and courtyard outdoor space.
Where is this triplex located?
The property is located at 676 Union Street TH Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,850,000.
What are key features of this property?
This property features: Renovated 25‑foot‑wide loft building at 676 Union Street in Park Slope, built in 1920; Approximately 6,500 SF configured as two duplex residences plus a dedicated gallery/studio; Layout includes 6 bedrooms and 5.5 bathrooms, offering flexible use for end users or investors
