Waterfront Duplex with Finished
For Sale
$699,000
73 Bartlett Place, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size756 SF
Lot Size0.04 Acres
Price / SF$924.60
Days on Market609
Property Features for 73 Bartlett Place
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2
Patio and Porch features
Deck
Interior features
Central Air - Split, Deck, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Basement
Full, Finished
Subdivision
Gerritsen Beach
Standard status
Active
Size
756 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4440
Utilities
Water front
1
Building Details
Year built
1920
Floors in Building
2
Flooring type
Hardwood, Tile
Architectural style
Other
Listing Agency:
Brooklyn4U Rltyof DykerHeights
(718) 236-1800
Listed By:
Maria Fabbro
(646) 431-9591
Added: Jan 8, 2025
Changed: Sep 5
Last Checked: Sep 9 at 7:06AM
MLS# 488463
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 R4-zoned duplex was built in 1920 and has 756 square feet of property size. The residence includes 3 bedrooms, 2 full baths, hardwood and tile flooring, and split-system cooling in every room. Interior improvements include granite kitchen countertops, stainless-steel appliances, large closets, and a walk-in closet in the primary bedroom.
A finished stand-up attic and full finished basement add usable space, with the basement offering a separate exit to the deck and dock area. The waterfront setting includes room for up to at least 2 boats and views from the property. Transportation, shopping, and restaurants are described as being within a short distance.
A finished stand-up attic and full finished basement add usable space, with the basement offering a separate exit to the deck and dock area. The waterfront setting includes room for up to at least 2 boats and views from the property. Transportation, shopping, and restaurants are described as being within a short distance.
Key Highlights
- Waterfront duplex with R4 zoning
- 3 bedrooms and 2 full baths
- 756 square feet; built in 1920
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
$26,476
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
3.79%
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%
$529,520
$529.5K
Cap Rate 7%
$378,229
$378.2K
Cap Rate 9%
$294,178
$294.2K
Market Conditions
NOI Build-Up for 756 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
$38.6K $51.00/SF
− Vacancy
−$733 −$0.97/SF
EGI
$37.8K $50.03/SF
− OpEx
−$11.3K −$15.01/SF
NOI
$26.5K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$529,520
Cap Rate 7%
$378,229
Cap Rate 9%
$294,178
Alternative Uses
Best Use
Multifamily LT 5
$378.2K
$331.0K – $441.3K
NOI $26,476 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$329.7K
$288.5K – $384.7K
NOI $23,080 @ 7.0% cap · market cap 3.30%
Theoretical Best
Specialty Retail
$626.0K
$547.7K – $730.3K
NOI $43,818 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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?
Duplex - Renovated duplex with a finished attic, basement, deck, and dock area for boat access.
Where is this duplex located?
The property is located at 73 Bartlett Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Waterfront duplex with R4 zoning; 3 bedrooms and 2 full baths; 756 square feet; built in 1920
