Reimagined Two-Family
For Sale
$2,595,000
819 Greene Avenue, Brooklyn, NY 11221
Renovated two-family residence in Stuyvesant Heights, Brooklyn.
Property Size3,693 SF
Price / SF$702.68
Days on Market168
Property Features for 819 Greene Avenue
General Information
Standard status
Active
Size
3,693 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,068
Building Details
Building Size
3,693 SF
Year Built
1915
Listing Agency:
Compass
Listed By:
Tali Berzak
(917) 246-8581
Source:
Cbwarburg
Added: Mar 24
Changed: Sep 4
Last Checked: Sep 7 at 8:48AM
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.
This fully gut-renovated two-family townhouse, originally built in 1915, combines classic architecture with modern living. The residence features a four-bedroom triplex for the owner, complete with an office and finished cellar, alongside a renovated one-bedroom garden apartment suitable for family, guests, or rental income. The home includes white oak flooring, restored architectural elements, contemporary finishes, and modern systems. Marble countertops, custom millwork, and a premium appliance package enhance the design and functionality. The owner’s triplex features an expansive parlor level with oversized windows, a formal living area, and a dining space. The chef’s kitchen is equipped with marble countertops, custom cabinetry, a Thermador refrigerator and dishwasher, a Bosch electric range, a Sharp microwave, and a Summit wine cooler. The upper floors contain four bedrooms and three full bathrooms. The primary suite includes closet space and an en-suite bath. An LG washer and dryer are included for convenience. The finished cellar offers flexible bonus space and an additional half bath. The garden-level one-bedroom apartment has a private entrance, modern kitchen, in-suite laundry, and full bathroom. Located in Stuyvesant Heights, the property is near neighborhood amenities such as Saraghina, Peaches, Trad Room, and Laziza, as well as parks with playgrounds, basketball courts, and tennis courts. Transportation is facilitated by the A/C trains at Utica Avenue, and JFK Airport is a 30-minute drive away.
Key Highlights
- Fully Gut‑Renovated Two‑Family Townhouse: Blends classic architecture with modern living.
- Owner's Four‑Bedroom Triplex with Finished Cellar: Includes an office and flexible bonus space.
- High‑End Chef's Kitchen: Features marble countertops and a premium appliance package.
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
$129,335
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
4.98%
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%
$2,586,700
$2.6M
Cap Rate 7%
$1,847,643
$1.8M
Cap Rate 9%
$1,437,056
$1.4M
Market Conditions
NOI Build-Up for 3,693 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
$188.3K $51.00/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$184.8K $50.03/SF
− OpEx
−$55.4K −$15.01/SF
NOI
$129.3K $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%
$2,586,700
Cap Rate 7%
$1,847,643
Cap Rate 9%
$1,437,056
Alternative Uses
Best Use
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,335 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,743 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$3.06M
$2.68M – $3.57M
NOI $214,046 @ 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
4,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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 - Renovated two-family residence in Stuyvesant Heights, Brooklyn.
Where is this duplex located?
The property is located at 819 Greene Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Fully Gut‑Renovated Two‑Family Townhouse: Blends classic architecture with modern living.; Owner's Four‑Bedroom Triplex with Finished Cellar: Includes an office and flexible bonus space.; High‑End Chef's Kitchen: Features marble countertops and a premium appliance package.
