Six-Family Building in Sunset
715 55th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property size:
4,719 SFLot size:
0.05 AcresPrice / SF:
$392/SF- Added:
- Nov 7, 2021
- Days on Market:
- 1664
- Last Refresh:
- May 27 at 11:06 pm
Property Features for 715 55th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6B
- Bedrooms
- 12
- Bathrooms
- 7
- Rooms
- Bathroom 2, Bedroom 11, Bathroom 1, Bathroom 4, Bedroom 12, Bedroom 1, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 10, Bedroom 2, Bathroom 7, Bedroom 3, Bathroom 6, Bedroom 9, Bathroom 5, Bedroom 5, Bedroom 8, Bedroom 4
- Interior features
- A/C Unit - Window, Refrigerator, Stove
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 4,719 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 14132
Building Details
- Year built
- 1915
- Floors in Building
- 3
- Flooring type
- Hardwood, Tile
- Building materials
- Brick
- Roof type
- Flat
Listing agent Jason Zhou License #10301217017 (718) 612-3088
Listing office RE/MAX Edge 1812 Bath Ave, Brooklyn, NY (718) 612-3088
Listing date Nov 7, 2021
MLS# 457019
Listing URL
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Sunset Park location, near 7th Avenue.
- Six‑family building with potential for 2 commercial units and 4 residential units (R6B zoning).
- No rent control apartments.
- No leases for any tenants.
- Building size 23x79' on a 23x100' lot.
- Low annual property tax: $14,131.
Overview
Located in the Sunset Park neighborhood of Brooklyn, this six-family building is situated near 7th Avenue. The property, zoned R6B, may be suitable for conversion into two commercial units and four residential units. The building contains no rent-controlled apartments, and all tenants are without leases. The building measures 23x79 feet and is situated on a 23x100 foot lot. The property size is 4,719 square feet, and the lot size is approximately 0.0529 acres. The annual property tax is $14,131. The property is located close to local amenities.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.40M
NOI $125,840 @ 9.00% cap · cautious / downside scenario
Moderate
$1.80M
NOI $125,840 @ 7.00% cap · market / base-case scenario
Aggressive
$2.52M
NOI $125,840 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $237.8k | $50.40 |
| − Vacancy | −$9.0k | −$1.92 |
| EGI | $228.8k | $48.48 |
| − OpEx | −$103.0k | −$21.82 |
| NOI | $125.8k | $26.67 |
4,719 SF · lease $50.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,840 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,144 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
AARON'S CONSTRUCTION CORPORATION.
Roofing Company
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.008189
- Latitude
- 40.639587
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-family building near 7th Avenue in Sunset Park, Brooklyn.
Where is this apartment building located?
The property is located at 715 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime Sunset Park location, near 7th Avenue.; Six‑family building with potential for 2 commercial units and 4 residential units (R6B zoning).; No rent control apartments.
