New 6-Unit Apartment
For Sale
Contact for pricing
731 E 32nd St, Brooklyn, NY 11210
Walk-up residential property with high ceilings, modern unit layouts, and an R6 zoning designation.
Property Size4,860 SF
Price / SF$586.42
Days on Market62
Property Features for 731 E 32nd St
General Information
Standard status
Active
Size
4,860 SF
Property subtype
Multifamily
Zoning
R6
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$195,488
Additional Details
Public Transit
Yes
Multifamily Units
6
Building Details
Year Built
2021
Buildings
1
Stories
4
Units
6
Tenancy
Multi
Listing Agency:
Alpha Realty NY
Listed By:
Lev Mavashev · License #NY 10351208812
Source:
Crexi
Added: Aug 5
Changed: Sep 20
Last Checked: Oct 4 at 6:56AM
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 Alpha Realty NY
Investment Insights
Based on property information with market context.
Built in 2021, this newly developed walk-up apartment building contains 6 residential units within a 65' deep structure. The layouts are described as spacious, with high ceilings throughout the building. The property carries R6 zoning and includes a 35-year Affordable NY Tax Abatement structured as 70% free-market and 30% affordable.
Located in the Flatbush section of Brooklyn, the building is within walking distance of the Flatbush Avenue Station and near shopping, dining, and entertainment options. The property is situated at 731 E 32nd St, Brooklyn, NY 11210.
Located in the Flatbush section of Brooklyn, the building is within walking distance of the Flatbush Avenue Station and near shopping, dining, and entertainment options. The property is situated at 731 E 32nd St, Brooklyn, NY 11210.
Key Highlights
- 6‑unit apartment building completed in 2021
- 65' deep walk‑up building with high ceilings
- 35‑year Affordable NY Tax Abatement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$148,371
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,967,420
$3.0M
Cap Rate 7%
$2,119,586
$2.1M
Cap Rate 9%
$1,648,567
$1.6M
Market Conditions
NOI Build-Up for 4,860 SF
Gross rent
$275.3K $56.64/SF
− Vacancy
−$5.5K −$1.13/SF
EGI
$269.8K $55.51/SF
− OpEx
−$121.4K −$24.98/SF
NOI
$148.4K $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 Rate 5%
$2,967,420
Cap Rate 7%
$2,119,586
Cap Rate 9%
$1,648,567
Alternative Uses
Best Use
Apartment 5plus
$2.12M
$1.85M – $2.47M
NOI $148,371 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.69M
NOI $281,686 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Walk-up residential property with high ceilings, modern unit layouts, and an R6 zoning designation.
Where is this apartment building located?
The property is located at 731 E 32nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 6‑unit apartment building completed in 2021; 65' deep walk‑up building with high ceilings; 35‑year Affordable NY Tax Abatement
