Four-Story Historic
New
For Sale
$3,195,000
81 Hancock St, Brooklyn, NY 11216
The legal two-family configuration allows for a separate apartment alongside a larger owner’s residence.
Property Size4,221 SF
Price / SF$756.93
Days on Market2
Property Features for 81 Hancock St
General Information
Standard status
Active
Size
4,221 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,419
Building Details
Building Size
4,221 SF
Year Built
1901
Buildings
1
Stories
4
Units
2
Listing Agency:
Compass
Listed By:
Tali Berzak · License #10301209148
(917) 246-8581
Source:
Elliman
Added: Oct 30
Last Checked: Oct 30 at 2:57PM
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.
Built in 1901, this four-story, legal two-family property contains approximately 4,221 square feet, including the basement, on a 20-foot-wide by 42-foot-deep footprint. Its historic exterior and interior retain period features such as molded mirrors, fireplace surrounds, woodwork, paneled doors, and high ceilings. The property is presented as a restoration project, with potential configurations including a two-family home or a single residence with a separate apartment.
At 81 Hancock Street in Brooklyn’s Bedford-Stuyvesant neighborhood, the property is near parks, restaurants, cafés, and independent shops. A and C subway service is nearby. The property has a Walk Score of 87, a Bike Score of 88, and a Transit Score of 100.
At 81 Hancock Street in Brooklyn’s Bedford-Stuyvesant neighborhood, the property is near parks, restaurants, cafés, and independent shops. A and C subway service is nearby. The property has a Walk Score of 87, a Bike Score of 88, and a Transit Score of 100.
Key Highlights
- Legal two‑family property with four stories
- Approximately 4,221 square feet, including the basement
- 20 feet wide by 42 feet deep
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,827
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,956,540
$3.0M
Cap Rate 7%
$2,111,814
$2.1M
Cap Rate 9%
$1,642,522
$1.6M
Market Conditions
NOI Build-Up for 4,221 SF
Gross rent
$215.3K $51.00/SF
− Vacancy
−$4.1K −$0.97/SF
EGI
$211.2K $50.03/SF
− OpEx
−$63.4K −$15.01/SF
NOI
$147.8K $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 Rate 5%
$2,956,540
Cap Rate 7%
$2,111,814
Cap Rate 9%
$1,642,522
Alternative Uses
Best Use
Multifamily LT 5
$2.11M
$1.85M – $2.46M
NOI $147,827 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$1.84M
$1.61M – $2.15M
NOI $128,863 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$3.49M
$3.06M – $4.08M
NOI $244,649 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,167
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The legal two-family configuration allows for a separate apartment alongside a larger owner’s residence.
Where is this duplex located?
The property is located at 81 Hancock St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: Legal two‑family property with four stories; Approximately 4,221 square feet, including the basement; 20 feet wide by 42 feet deep
