Brick Apartment Building with
For Sale
$1,960,000
719 41st Street, Brooklyn, NY 11232
Residential, Brooklyn, NY
Property Size4,620 SF
Lot Size0.06 Acres
Price / SF$424.24
Days on Market560
Property Features for 719 41st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 1, Bedroom 7, Bedroom 11, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 5, Bedroom 6, Bathroom 1, Bedroom 9, Bedroom 12, Bedroom 5, Bedroom 8, Bedroom 10, Bathroom 4, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Sunset Park
Standard status
Active
Size
4,620 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
16827
Building Details
Year built
1926
Floors in Building
3
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Mar 24, 2025
Changed: Sep 16
Last Checked: Oct 4 at 1:06PM
MLS# 490274
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 semi-detached brick apartment building was constructed in 1926 and contains 4,620 square feet. The property includes a fully finished basement with its own front entrance, along with hardwood and tile flooring. Interior appliances include a refrigerator and stove, while the building has a flat roof and solid-brick construction.
The property is located on 41st Street in Brooklyn’s 11232 ZIP code, near 8th Avenue shopping and transit. The parcel measures 0.0575 acres and carries R6B zoning. Public remarks report a cap rate over 6%.
The property is located on 41st Street in Brooklyn’s 11232 ZIP code, near 8th Avenue shopping and transit. The parcel measures 0.0575 acres and carries R6B zoning. Public remarks report a cap rate over 6%.
Key Highlights
- 4,620‑square‑foot apartment building on a 0.0575‑acre parcel
- Semi‑detached brick construction dating to 1926
- Fully finished basement with separate front entrance
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
$141,044
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
7.20%
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%
$2,820,880
$2.8M
Cap Rate 7%
$2,014,914
$2.0M
Cap Rate 9%
$1,567,156
$1.6M
Market Conditions
NOI Build-Up for 4,620 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
$261.7K $56.64/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$256.4K $55.51/SF
− OpEx
−$115.4K −$24.98/SF
NOI
$141.0K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$2,820,880
Cap Rate 7%
$2,014,914
Cap Rate 9%
$1,567,156
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.35M
NOI $141,044 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.83M
$3.35M – $4.46M
NOI $267,775 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,864
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Semi-detached multifamily property with a finished basement, separate entrance, and proximity to shopping and transit.
Where is this apartment building located?
The property is located at 719 41st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,960,000.
What are key features of this property?
This property features: 4,620‑square‑foot apartment building on a 0.0575‑acre parcel; Semi‑detached brick construction dating to 1926; Fully finished basement with separate front entrance
