Brooklyn Multifamily Portfolio with
New
For Sale
$60,000,000
7 Hegeman Ave, Brooklyn, NY 11212
Business Opportunity, Brooklyn, NY
Property Size65,535 SF
Lot Size2.07 Acres
Price / SF$915.54
Days on Market4
Property Features for 7 Hegeman Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Family
Subdivision
Canarsie
Directions
7 Hegeman Ave is on Hegeman Avenue between Herzl and Amboy Streets. 505 and 525 Rockaway Pkwy are at the Church Avenue end of the Brookdale Hospital block. 660 East 98th St is across Linden Boulevard from the hospital campus.
Standard status
Active
APN
3-03621-0001
Size
65,535 SF
Lot size
2.07 Acres
Taxes and HOA fees
Tax Annual Amount
1545550
Building Details
Year built
1948
Architectural style
Other
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag
855-305-DEAL
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 7:06PM
MLS# 12033843
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Brooklyn portfolio brings together four rent-stabilized apartment buildings with 381 residences, ground-floor commercial space, and 104 on-site parking spaces. The buildings range from elevator towers of 20 and 12 stories to a two-building Rockaway Parkway grouping that includes both an elevator building and a walk-up. The residential mix comprises 88 studios, 213 one-bedroom units, 78 two-bedroom units, and 2 three-bedroom units.
The properties are located in Canarsie within roughly three-tenths of a mile of Brookdale University Hospital Medical Center. The Rockaway Parkway buildings share the hospital’s tax block, while the East 98th Street property faces the campus across Linden Boulevard; Hegeman Avenue is about two blocks northeast. The package also includes a separately taxed land parcel at 552 Amboy Street, conveyed with the Hegeman Avenue property and accompanied by a completed zoning study.
Additional income sources include parking, laundry, submetered electric, rooftop antenna leases, and carrier agreements. Reported occupancy is approximately 98%, and the indicated cap rate is 6.39%. Facade work at both towers and elevator work at the East 98th Street building are reported complete. The portfolio is offered as a package.
The properties are located in Canarsie within roughly three-tenths of a mile of Brookdale University Hospital Medical Center. The Rockaway Parkway buildings share the hospital’s tax block, while the East 98th Street property faces the campus across Linden Boulevard; Hegeman Avenue is about two blocks northeast. The package also includes a separately taxed land parcel at 552 Amboy Street, conveyed with the Hegeman Avenue property and accompanied by a completed zoning study.
Additional income sources include parking, laundry, submetered electric, rooftop antenna leases, and carrier agreements. Reported occupancy is approximately 98%, and the indicated cap rate is 6.39%. Facade work at both towers and elevator work at the East 98th Street building are reported complete. The portfolio is offered as a package.
Key Highlights
- Four rent‑stabilized Brooklyn apartment buildings with 381 units
- Unit mix: 88 studios, 213 one‑bedrooms, 78 two‑bedrooms and 2 three‑bedrooms
- 104 on‑site parking spaces; buildings include elevator towers and a walk‑up
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,378,921
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$47,578,420
$47.6M
Cap Rate 7%
$33,984,586
$34.0M
Cap Rate 9%
$26,432,456
$26.4M
Market Conditions
NOI Build-Up for 65,535 SF
Gross rent
$4.33M $66.00/SF
− Vacancy
−$519.0K −$7.92/SF
EGI
$3.81M $58.08/SF
− OpEx
−$1.43M −$21.78/SF
NOI
$2.38M $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%
$47,578,420
Cap Rate 7%
$33,984,586
Cap Rate 9%
$26,432,456
Alternative Uses
Best Use
Mixed Use
$33.98M
$29.74M – $39.65M
NOI $2,378,921 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$28.58M
$25.01M – $33.35M
NOI $2,000,715 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$54.26M
$47.48M – $63.31M
NOI $3,798,409 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
381
Residential units
98%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,638
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four elevator and walk-up buildings combine apartment residences, commercial space, and on-site parking.
Where is this apartment building located?
The property is located at 7 Hegeman Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $60,000,000.
What are key features of this property?
This property features: Four rent‑stabilized Brooklyn apartment buildings with 381 units; Unit mix: 88 studios, 213 one‑bedrooms, 78 two‑bedrooms and 2 three‑bedrooms; 104 on‑site parking spaces; buildings include elevator towers and a walk‑up
