Waterfront Duplex with
New
For Sale
$648,000
8 Gotham Avenue, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,400 SF
Lot Size0.04 Acres
Price / SF$462.86
Days on Market4
Property Features for 8 Gotham Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Deck
Interior features
Deck
Basement
Full
Subdivision
Gerritsen Beach
Standard status
Active
Size
1,400 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5596
Utilities
Water front
1
Building Details
Year built
1920
Floors in Building
2
Flooring type
Hardwood
Architectural style
Other
Listing Agency:
MadisonEstates Sothebys Realty
(718) 645-1665
Listed By:
Nick P. Parascandola
(718) 645-1665
Added: Aug 23
Changed: Aug 24
Last Checked: Aug 26 at 12:06AM
MLS# 503986
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 1,400-square-foot detached duplex offers two bedrooms, two bathrooms, hardwood flooring, and a bright interior with large windows. The eat-in kitchen opens to a deck through a glass sliding door, while the basement has a private side entrance and provisions for a full bathroom. The roof is approximately 15 years old, and the boiler is approximately 12 years old.
Outdoor features include a spacious deck, gangplank, and waterfront access suitable for boating, fishing, and personal watercraft. The bulkhead has been reinforced with a steel plate. The property occupies 0.0385 acres, carries R4 zoning, and was built in 1920.
Outdoor features include a spacious deck, gangplank, and waterfront access suitable for boating, fishing, and personal watercraft. The bulkhead has been reinforced with a steel plate. The property occupies 0.0385 acres, carries R4 zoning, and was built in 1920.
Key Highlights
- 1,400 SF detached duplex with 2 bedrooms and 2 bathrooms
- Waterfront setting with direct access for boating, fishing, and personal watercraft
- Spacious deck connected to the eat‑in kitchen through a glass sliding door
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
$49,030
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
7.57%
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%
$980,600
$980.6K
Cap Rate 7%
$700,429
$700.4K
Cap Rate 9%
$544,778
$544.8K
Market Conditions
NOI Build-Up for 1,400 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
$71.4K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.0K $50.03/SF
− OpEx
−$21.0K −$15.01/SF
NOI
$49.0K $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%
$980,600
Cap Rate 7%
$700,429
Cap Rate 9%
$544,778
Alternative Uses
Best Use
Multifamily LT 5
$700.4K
$612.9K – $817.2K
NOI $49,030 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$610.6K
$534.3K – $712.4K
NOI $42,741 @ 7.0% cap · market cap 6.60%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,144 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
770
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 - Detached two-bedroom residence with water access, hardwood flooring, a finished-feel basement layout, and outdoor entertaining space.
Where is this duplex located?
The property is located at 8 Gotham Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $648,000.
What are key features of this property?
This property features: 1,400 SF detached duplex with 2 bedrooms and 2 bathrooms; Waterfront setting with direct access for boating, fishing, and personal watercraft; Spacious deck connected to the eat‑in kitchen through a glass sliding door
