Two-Bedroom Residential Income
For Sale
$999,000
8 VANDERBILT Avenue 9H, Brooklyn, NY 11205
Corner residence with 1,004 square feet, expansive windows, and access to extensive Navy Green amenities.
Property Size1,004 SF
Price / SF$995.02
Days on Market15
Property Features for 8 VANDERBILT Avenue 9H
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$276
Building Details
Building Size
1,004 SF
Year Built
2015
Listing Agency:
Corcoran Group
Listed By:
Katy Kong · License #10401318672
(347) 974-4265
Source:
Nilelundgren
Added: Sep 17
Changed: Sep 29
Last Checked: Sep 30 at 4:16PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 1,004-square-foot corner residence at Navy Green features two bedrooms and one bathroom in a 2015 LEED-certified development. North and west exposures bring natural light through oversized windows, with views toward the Williamsburg Bridge and Brooklyn. The interior includes oak flooring, a combined living and dining area, a galley kitchen with Caesarstone countertops and stainless steel appliances, and a bathroom with porcelain tile, soaking tub, and polished chrome fixtures. The second bedroom can also serve as an office or guest room.
Building amenities include a 30,000-square-foot courtyard and garden, landscaped rooftop deck with BBQ facilities, fitness room, bike storage, cold storage, laundry facilities, superintendent services, two elevators, and a cloud-based smart intercom. The property is within the Brooklyn Navy Yard near Wegmans Food Markets, Buildings 77 and 92, and the NYC Ferry. CitiBike stations, multiple bus routes, subway service, the BQE, Brooklyn Bridge, and Manhattan Bridge are also nearby. A 421-A tax abatement is in place through 2042.
Building amenities include a 30,000-square-foot courtyard and garden, landscaped rooftop deck with BBQ facilities, fitness room, bike storage, cold storage, laundry facilities, superintendent services, two elevators, and a cloud-based smart intercom. The property is within the Brooklyn Navy Yard near Wegmans Food Markets, Buildings 77 and 92, and the NYC Ferry. CitiBike stations, multiple bus routes, subway service, the BQE, Brooklyn Bridge, and Manhattan Bridge are also nearby. A 421-A tax abatement is in place through 2042.
Key Highlights
- 1,004‑square‑foot corner residence with two bedrooms and one bathroom
- 2015 LEED‑certified Navy Green development
- North and west exposures with Williamsburg Bridge and Brooklyn views
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
$30,651
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
3.07%
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%
$613,020
$613.0K
Cap Rate 7%
$437,871
$437.9K
Cap Rate 9%
$340,567
$340.6K
Market Conditions
NOI Build-Up for 1,004 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
$56.9K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$55.7K $55.51/SF
− OpEx
−$25.1K −$24.98/SF
NOI
$30.7K $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%
$613,020
Cap Rate 7%
$437,871
Cap Rate 9%
$340,567
Alternative Uses
Best Use
Apartment 5plus
$437.9K
$383.1K – $510.9K
NOI $30,651 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$831.3K
$727.4K – $969.9K
NOI $58,192 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with 1,004 square feet, expansive windows, and access to extensive Navy Green amenities.
Where is this residential income property located?
The property is located at 8 VANDERBILT Avenue 9H Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1,004‑square‑foot corner residence with two bedrooms and one bathroom; 2015 LEED‑certified Navy Green development; North and west exposures with Williamsburg Bridge and Brooklyn views
