Brooklyn Brownstone in
For Sale
$1,430,000
Pending
690 HANCOCK St, Brooklyn, NY 11233
Classic Brooklyn brownstone in a vibrant, historic neighborhood.
Property Size2,666 SF
Lot Size0.04 Acres
Days on Market183
Property Features for 690 HANCOCK St
General Information
Standard status
Pending
Size
2,666 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,740
Building Details
Building Size
2,666 SF
Year Built
1899
Stories
2
Units
2
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Jonathan Anobian
(718) 486-4409
Source:
Elliman
Added: Mar 11
Changed: Sep 8
Last Checked: Sep 8 at 5:49AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located on a tree-lined block in Bedford-Stuyvesant, 690 Hancock Street is a classic Brooklyn brownstone. This two-family townhouse is move-in ready and offers an opportunity for investors and end-users. Configured as a six-bedroom, three-bathroom home, the property will be delivered vacant at closing, providing flexibility to design the ideal layout as an income-producing investment, a multi-family residence, or a spacious owner's home with rental income. The home presents an opportunity for updates that can increase value over time. With its proportions, generous living spaces, and original architectural character, this property offers the perfect canvas to create a Brooklyn residence. Bedford-Stuyvesant is known for its historic brownstones and community atmosphere. The neighborhood has one of the largest collections of preserved Victorian brownstones in the country, giving the area its architectural character. Residents enjoy local cafes, restaurants, and neighborhood favorites nearby, including Saraghina, Hart's, A&A Bake & Doubles, and David's Brisket House, along with boutique coffee shops, bakeries, and neighborhood wine bars. Transportation is convenient with multiple subway options nearby, including the A and C trains at Nostrand Avenue and Utica Avenue, the G train at Bedford-Nostrand Avenues, and the J train at Halsey Street, providing access to Manhattan and other parts of Brooklyn. The neighborhood also offers schools and educational institutions including Brooklyn Brownstone School, Bedford Academy High School, and Boys and Girls High School, along with parks and community spaces.
Key Highlights
- Delivered Vacant: Offers full flexibility for layout design.
- Prime Location: Situated in the heart of Bedford‑Stuyvesant, a highly desirable and historic brownstone neighborhood in Brooklyn.
- Investment Potential: Strong income‑producing potential with opportunities for value appreciation.
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
$93,368
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
6.53%
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%
$1,867,360
$1.9M
Cap Rate 7%
$1,333,829
$1.3M
Cap Rate 9%
$1,037,422
$1.0M
Market Conditions
NOI Build-Up for 2,666 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
$136.0K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$133.4K $50.03/SF
− OpEx
−$40.0K −$15.01/SF
NOI
$93.4K $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%
$1,867,360
Cap Rate 7%
$1,333,829
Cap Rate 9%
$1,037,422
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.17M – $1.56M
NOI $93,368 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,390 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$2.21M
$1.93M – $2.58M
NOI $154,521 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,815
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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 - Classic Brooklyn brownstone in a vibrant, historic neighborhood.
Where is this duplex located?
The property is located at 690 HANCOCK St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,430,000.
What are key features of this property?
This property features: Delivered Vacant: Offers full flexibility for layout design.; Prime Location: Situated in the heart of Bedford‑Stuyvesant, a highly desirable and historic brownstone neighborhood in Brooklyn.; Investment Potential: Strong income‑producing potential with opportunities for value appreciation.
