Flatbush Multifamily Investment
762 East 32nd Street Brooklyn, NY 11210
762 East 32nd Street, Brooklyn, NY, 11210
$6,250,000
For Sale
$6,250,000
Two side-by-side multifamily properties with tax exemption until 2055.
Property Size10,800 SF
Lot Size0.09 Acres
Price / SF$578.70
Days on Market368
Property Features for 762 East 32nd Street
General Information
- Standard status
- Active
- Size
- 10,800 SF
- Lot size
- 0.09 Acres
- Property subtype
- MF
Building Details
- Year Built
- 2020
Listing Agency
Keller Williams NYC
(646) 321-4311
Listed by
Edward Kalisvaart · License ##10301210475
(646) 321-4311
Source
Realnex
Added: Jul 16, 2025 Checked: Jul 6 at 12:17 pm
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 Keller Williams NYC
Investment Insights
Based on property information with market context.
This offering consists of two connected, side-by-side multifamily properties located in Flatbush, Brooklyn. Constructed in 2020, each four-story building contains 8 units, totaling 16 residential units. The unit mix includes 2 one-bedroom, 12 two-bedroom, and 2 three-bedroom apartments. Each unit features a balcony, washer/dryer, air conditioning, hardwood floors, high ceilings, and stone kitchen countertops. The combined square footage of the buildings is 10,800, situated on a 40 x 100 lot with a built size of 40 x 70. Each unit is separately metered for gas and electric. The properties benefit from a 421-A tax exemption in place until 2055.
Key Highlights
- Benefit from a 421‑A tax exemption until 2055
- New construction (2020) multifamily property
- Features 16 residential units (2 one‑bedroom, 12 two‑bedroom, 2 three‑bedroom)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $611.7k | $56.64 |
| − Vacancy | −$12.2k | −$1.13 |
| EGI | $599.5k | $55.51 |
| − OpEx | −$269.8k | −$24.98 |
| NOI | $329.7k | $30.53 |
10,800 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.71M
$4.12M – $5.50M
NOI $329,713 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.94M
$7.82M – $10.43M
NOI $625,968 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Two side-by-side multifamily properties with tax exemption until 2055.
Where is this apartment building located?
The property is located at 762 East 32nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Benefit from a 421‑A tax exemption until 2055; New construction (2020) multifamily property; Features 16 residential units (2 one‑bedroom, 12 two‑bedroom, 2 three‑bedroom)
