Renovated Pre-War Cooperative
For Sale
$430,000
7609 4th Avenue E14, Brooklyn, NY 11209
Unit E14 features renovated interiors with 9-foot ceilings, hardwood floors, and a chef’s kitchen with granite countertops.
Property Size612 SF
Price / SF$702.61
Days on Market187
Property Features for 7609 4th Avenue E14
General Information
Standard status
Active
Size
612 SF
Property subtype
Apartment
Amenities
laundry facility
bike storage
private storage units
fitness center
garden area with BBQ
pet-friendly
Building Details
Building Size
612 SF
Year Built
1927
Listing Agency:
Compass
Listed By:
Neil D Caesar
(917) 420-5556
Source:
Miradorrealestate
Added: Mar 6
Changed: Sep 3
Last Checked: Sep 8 at 9:42AM
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
Investment Insights
Based on property information with market context.
Unit E14 at Castle Court has been fully reimagined and stripped to the studs, with an open-concept layout that highlights polished hardwood floors. The home features custom recessed lighting throughout, 9-foot ceilings, and an updated chef’s kitchen with expansive granite countertops, a designer tiled backsplash, and stainless steel appliances. A king-sized bedroom and a spa-inspired bathroom with floor-to-ceiling porcelain tile and a modern floating vanity complete the residence.
Residents of Castle Court enjoy an English-style courtyard setting and a full complement of building services and amenities, including a newly renovated, card-operated laundry facility and a dedicated live-in superintendent. The building also offers on-site bike storage and private storage units (subject to availability), along with secure, gated entry. The landscaped common courtyard includes a fitness center, a garden area with BBQ capabilities, and a pet-friendly policy.
Conveniently positioned for commuting, the unit is described as being seconds from the 77th St (R train) subway station, with Manhattan express buses (X27/X37) just a block away. For recreation, the remarks note nearby Shore Road waterfront, Narrows Botanical Gardens, and the 69th Street Pier ferry terminal.
Residents of Castle Court enjoy an English-style courtyard setting and a full complement of building services and amenities, including a newly renovated, card-operated laundry facility and a dedicated live-in superintendent. The building also offers on-site bike storage and private storage units (subject to availability), along with secure, gated entry. The landscaped common courtyard includes a fitness center, a garden area with BBQ capabilities, and a pet-friendly policy.
Conveniently positioned for commuting, the unit is described as being seconds from the 77th St (R train) subway station, with Manhattan express buses (X27/X37) just a block away. For recreation, the remarks note nearby Shore Road waterfront, Narrows Botanical Gardens, and the 69th Street Pier ferry terminal.
Key Highlights
- Unit E14 in Castle Court is a pre‑war co‑op with renovated interiors, 9‑foot ceilings, and polished hardwood floors
- Kitchen features premium granite countertops, designer tiled backsplash, and stainless steel appliances
- Bathroom includes floor‑to‑ceiling porcelain tile and a modern floating vanity
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
$18,684
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
4.35%
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%
$373,680
$373.7K
Cap Rate 7%
$266,914
$266.9K
Cap Rate 9%
$207,600
$207.6K
Market Conditions
NOI Build-Up for 612 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
$34.7K $56.64/SF
− Vacancy
−$693 −$1.13/SF
EGI
$34.0K $55.51/SF
− OpEx
−$15.3K −$24.98/SF
NOI
$18.7K $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%
$373,680
Cap Rate 7%
$266,914
Cap Rate 9%
$207,600
Alternative Uses
Best Use
Apartment 5plus
$266.9K
$233.6K – $311.4K
NOI $18,684 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$506.7K
$443.4K – $591.2K
NOI $35,472 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Unit E14 features renovated interiors with 9-foot ceilings, hardwood floors, and a chef’s kitchen with granite countertops.
Where is this residential income property located?
The property is located at 7609 4th Avenue E14 Brooklyn, NY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Unit E14 in Castle Court is a pre‑war co‑op with renovated interiors, 9‑foot ceilings, and polished hardwood floors; Kitchen features premium granite countertops, designer tiled backsplash, and stainless steel appliances; Bathroom includes floor‑to‑ceiling porcelain tile and a modern floating vanity
