3-Unit End-Unit
71 Norman Avenue, Brooklyn, NY 11222
For Sale
$2,695,000
The legal three-family layout provides three distinct residential units in Greenpoint.
Property Size2,340 SF
Days on Market23
Property Features for 71 Norman Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
EXP Realty
Listed By:
Magdalene A. Jacobson CBR
(888) 276-0630
Source:
Serhant
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 12:13PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This end-unit townhouse in Greenpoint is configured as a legal three-family property with three distinct residential units. The building dates to 1899.
McCarren Park is a short walk away, and the G train’s Nassau Avenue station is also within walking distance. Nearby offerings include cafés and restaurants.
McCarren Park is a short walk away, and the G train’s Nassau Avenue station is also within walking distance. Nearby offerings include cafés and restaurants.
Key Highlights
- Legal three‑family configuration with three distinct units
- End‑unit townhouse
- Built in 1899
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,951
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,639,020
$1.6M
Cap Rate 7%
$1,170,729
$1.2M
Cap Rate 9%
$910,567
$910.6K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$119.3K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$117.1K $50.03/SF
− OpEx
−$35.1K −$15.01/SF
NOI
$82.0K $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 Rate 5%
$1,639,020
Cap Rate 7%
$1,170,729
Cap Rate 9%
$910,567
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.37M
NOI $81,951 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$1.02M
$893.0K – $1.19M
NOI $71,438 @ 7.0% cap · market cap 2.65%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.26M
NOI $135,626 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,688
Businesses Nearby
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Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Brooklyn, NY
Properties on Market for Triplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The legal three-family layout provides three distinct residential units in Greenpoint.
Where is this triplex located?
The property is located at 71 Norman Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Legal three‑family configuration with three distinct units; End‑unit townhouse; Built in 1899
