Residential Income Property with
For Sale
$1,995,000
744 Park Place 1B, Brooklyn, NY 11216
Updated three-bedroom residence with private outdoor space, dedicated storage, and a chef-oriented kitchen.
Property Size2,000 SF
Price / SF$997.50
Days on Market56
Property Features for 744 Park Place 1B
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,236
Amenities
private rooftop outdoor space
in-unit washer/dryer
multi-zoned heating and cooling
designer lighting
brushed white oak engineered flooring
storage unit
Building Details
Building Size
2,000 SF
Year Built
1929
Listing Agency:
Compass
Listed By:
Jayson Halladay
(917) 753-3716
Source:
Carlinwright
Added: Sep 2
Changed: Oct 26
Last Checked: Oct 27 at 1:28AM
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 Compass
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Investment Insights
Based on property information with market context.
Residence 3A is a 1,233-square-foot, three-bedroom, two-bath home within an 8-unit building constructed in 1929. The apartment combines an open living and dining layout with a renovated kitchen featuring Cambria quartz work surfaces, extensive cabinetry, Bertazzoni appliances, an integrated refrigerator, induction cooking, and a vented hood. The primary suite includes an en-suite bath with Italian marble finishes and a walk-in shower, while the second bath has a soaking tub. In-unit laundry, multi-zone heating and cooling, designer lighting, and engineered white oak flooring complete the interior.
Private outdoor space measures 273 square feet and includes city views. The residence also comes with a 55-square-foot basement storage unit. The building has a brick exterior with carved stone detailing and is positioned one block from restaurants and shops along Franklin Avenue. Access to the 2, 3, 4, 5, and S trains, Brooklyn Botanic Garden, the Public Library, Grand Army Plaza Greenmarket, and Prospect Park adds to the surrounding amenities.
Private outdoor space measures 273 square feet and includes city views. The residence also comes with a 55-square-foot basement storage unit. The building has a brick exterior with carved stone detailing and is positioned one block from restaurants and shops along Franklin Avenue. Access to the 2, 3, 4, 5, and S trains, Brooklyn Botanic Garden, the Public Library, Grand Army Plaza Greenmarket, and Prospect Park adds to the surrounding amenities.
Key Highlights
- 1,233‑square‑foot three‑bedroom, two‑bath residence
- 273‑square‑foot private rooftop outdoor area with city views
- 55‑square‑foot dedicated basement storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,058
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,221,160
$1.2M
Cap Rate 7%
$872,257
$872.3K
Cap Rate 9%
$678,422
$678.4K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$113.3K $56.64/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$111.0K $55.51/SF
− OpEx
−$50.0K −$24.98/SF
NOI
$61.1K $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%
$1,221,160
Cap Rate 7%
$872,257
Cap Rate 9%
$678,422
Alternative Uses
Best Use
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Updated three-bedroom residence with private outdoor space, dedicated storage, and a chef-oriented kitchen.
Where is this residential income property located?
The property is located at 744 Park Place 1B Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 1,233‑square‑foot three‑bedroom, two‑bath residence; 273‑square‑foot private rooftop outdoor area with city views; 55‑square‑foot dedicated basement storage unit
