Sunset Park Four-Family
For Sale
$1,898,000
727 53RD Street, Brooklyn, NY 11220
Four-family property in the heart of Sunset Park.
Property Size2,760 SF
Price / SF$687.68
Days on Market192
Property Features for 727 53RD Street
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,984
Building Details
Building Size
2,760 SF
Year Built
1908
Listing Agency:
Empire State Realty Services NY
Listed By:
Deborah A Iemma
(646) 932-4442
Source:
Miradorrealestate
Added: Apr 15
Changed: Oct 11
Last Checked: Oct 21 at 3:16AM
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 Empire State Realty Services NY
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Investment Insights
Based on property information with market context.
Offered for sale for the first time in 40 years, this four-family property was built in 1908 and is located in the heart of Sunset Park. The property has undergone many upgrades over the years, including a boiler that is one year old. The building is fully occupied and generates a monthly income of $5250. Zoned R6B, the property has an actual FAR of 1.20. The maximum residential FAR is 2.0, allowing for a maximum residential square footage of 4006. There is a buildable square footage of 1,606. The property's zoning allows for much higher buildable square footage for mixed-use or community purposes. The location is considered a Walker's Paradise with a score of 95 and a Rider's Paradise with a transit score of 95. It is also Very Bikeable, with a bike score of 76.
Key Highlights
- Excellent Transit Score (95): Rider's Paradise
- Prime Location: Heart of Sunset Park
- High Walk Score (95): Walker's Paradise
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,178
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,643,560
$1.6M
Cap Rate 7%
$1,173,971
$1.2M
Cap Rate 9%
$913,089
$913.1K
Market Conditions
NOI Build-Up for 2,760 SF
Gross rent
$122.5K $44.40/SF
− Vacancy
−$5.1K −$1.86/SF
EGI
$117.4K $42.54/SF
− OpEx
−$35.2K −$12.76/SF
NOI
$82.2K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,643,560
Cap Rate 7%
$1,173,971
Cap Rate 9%
$913,089
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.03M – $1.37M
NOI $82,178 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$1.05M
$920.0K – $1.23M
NOI $73,600 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,247 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
7,625
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-family property in the heart of Sunset Park.
Where is this quadplex located?
The property is located at 727 53RD Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,898,000.
What are key features of this property?
This property features: Excellent Transit Score (95): Rider's Paradise; Prime Location: Heart of Sunset Park; High Walk Score (95): Walker's Paradise
