Six-Family Apartment
For Sale
$1,850,000
715 55th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size4,719 SF
Lot Size0.05 Acres
Price / SF$392.03
Days on Market1750
Property Features for 715 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
12
Bathrooms
7
Full bathrooms
6
Rooms
Bedroom 7, Bathroom 7, Bedroom 2, Bedroom 8, Bedroom 11, Bedroom 6, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 12, Bathroom 5, Bedroom 5, Bathroom 6, Bedroom 4, Bedroom 10, Bedroom 9, Bedroom 3, Bathroom 3
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sunset Park
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 Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Added: Nov 7, 2021
Changed: Aug 4
Last Checked: Aug 22 at 3:06PM
MLS# 457019
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.
Investment Insights
Based on property information with market context.
This six-family apartment building at 715 55th Street, Brooklyn, NY 11220 is situated on a 23 x 100' lot. The building measures 23 x 79' and contains approximately 4,719 SF. Constructed with brick and finished with tile and hardwood flooring, the property was built in 1915 and features a flat roof.
The building is located the second property from 7th Avenue. It is zoned R6B, which the seller notes can be approved for 2 commercial units and 4 residential families. Remarks also indicate there are no rent control apartments and no lease agreements for all tenants.
Interior features include window A/C units, a refrigerator, and a stove. The property’s configuration includes multiple bedrooms and bathrooms across the building.
The building is located the second property from 7th Avenue. It is zoned R6B, which the seller notes can be approved for 2 commercial units and 4 residential families. Remarks also indicate there are no rent control apartments and no lease agreements for all tenants.
Interior features include window A/C units, a refrigerator, and a stove. The property’s configuration includes multiple bedrooms and bathrooms across the building.
Key Highlights
- R6B zoned six‑family apartment building with noted potential for 2 commercial units and 4 residential families
- 23 x 79' building on a 23 x 100' lot (0.0529 acres)
- Approximately 4,719 SF building
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
$125,840
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
6.80%
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%
$2,516,800
$2.5M
Cap Rate 7%
$1,797,714
$1.8M
Cap Rate 9%
$1,398,222
$1.4M
Market Conditions
NOI Build-Up for 4,719 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
$237.8K $50.40/SF
− Vacancy
−$9.0K −$1.92/SF
EGI
$228.8K $48.48/SF
− OpEx
−$103.0K −$21.82/SF
NOI
$125.8K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,516,800
Cap Rate 7%
$1,797,714
Cap Rate 9%
$1,398,222
Alternative Uses
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
7,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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?
Apartment building - R6B zoned six-family building with brick construction and flat roof on a 0.0529-acre lot.
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: R6B zoned six‑family apartment building with noted potential for 2 commercial units and 4 residential families; 23 x 79' building on a 23 x 100' lot (0.0529 acres); Approximately 4,719 SF building
