One-Bedroom Residential Income
For Sale
$739,000
72 Steuben Street 2A, Brooklyn, NY 11205
Sun-filled condominium residence with updated finishes, dedicated storage, and access to shared outdoor amenities.
Property Size678 SF
Price / SF$1,089
Days on Market125
Property Features for 72 Steuben Street 2A
General Information
Standard status
Active
Size
678 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,360
Amenities
deeded basement storage
communal outdoor space
large rooftop area
bike room
Building Details
Building Size
678 SF
Year Built
2007
Listing Agency:
WRIGHT REALTY GROUP INC
(347) 757-8190
Listed By:
Kevin Colin Wright
(347) 757-8190
Source:
Carytamura
Added: Apr 11
Changed: Aug 12
Last Checked: Aug 12 at 3:20AM
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 WRIGHT REALTY GROUP INC
Investment Insights
Based on property information with market context.
This 678-square-foot, one-bedroom condominium is located within a 10-unit elevator building completed in 2007. The residence offers a flexible living and dining area, wide-plank flooring, fresh paint, modern fixtures, and a bedroom with a built-in ELFA closet system. The bathroom includes porcelain tile, a deep soaking tub, towel warmer, and large medicine cabinet. An alcove kitchen is equipped with quartz counters, glass tile backsplash, GE gas four-burner cooktop, stainless under-counter oven, and refrigerator/freezer. Deeded basement storage is included, while hot water is provided by the building. Two PTAC units deliver zone-controlled heating and cooling.
Building amenities include shared backyard and rooftop areas, along with a bike room. The property is near Myrtle Avenue, Pratt University, Fort Greene Park, and neighborhood dining and shopping. Transit options include the Classon Avenue G, Franklin A/C, B54, and B62, with access to the Brooklyn Navy Yard, Downtown Brooklyn, Williamsburg, and the BQE. The building is professionally managed, and the property is described as pet- and investor-friendly.
Building amenities include shared backyard and rooftop areas, along with a bike room. The property is near Myrtle Avenue, Pratt University, Fort Greene Park, and neighborhood dining and shopping. Transit options include the Classon Avenue G, Franklin A/C, B54, and B62, with access to the Brooklyn Navy Yard, Downtown Brooklyn, Williamsburg, and the BQE. The building is professionally managed, and the property is described as pet- and investor-friendly.
Key Highlights
- 678 SF one‑bedroom condominium in a 10‑unit elevator building
- Built in 2007 with professionally managed operations
- Deeded basement storage included with the residence
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
$20,699
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
2.80%
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%
$413,980
$414.0K
Cap Rate 7%
$295,700
$295.7K
Cap Rate 9%
$229,989
$230.0K
Market Conditions
NOI Build-Up for 678 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
$38.4K $56.64/SF
− Vacancy
−$768 −$1.13/SF
EGI
$37.6K $55.51/SF
− OpEx
−$16.9K −$24.98/SF
NOI
$20.7K $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%
$413,980
Cap Rate 7%
$295,700
Cap Rate 9%
$229,989
Alternative Uses
Best Use
Apartment 5plus
$295.7K
$258.7K – $345.0K
NOI $20,699 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$561.4K
$491.2K – $655.0K
NOI $39,297 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Sun-filled condominium residence with updated finishes, dedicated storage, and access to shared outdoor amenities.
Where is this residential income property located?
The property is located at 72 Steuben Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: 678 SF one‑bedroom condominium in a 10‑unit elevator building; Built in 2007 with professionally managed operations; Deeded basement storage included with the residence
