Renovated Two-Family
For Sale
$2,595,000
819 Greene Avenue, Brooklyn, NY 11221
Owner’s triplex includes four bedrooms, an office, finished cellar, and three full bathrooms.
Property Size3,693 SF
Price / SF$702.68
Days on Market143
Property Features for 819 Greene Avenue
General Information
Standard status
Active
Size
3,693 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,068
Amenities
in-unit laundry
Building Details
Building Size
3,693 SF
Year Built
1915
Buildings
1
Construction
townhouse
Listing Agency:
Compass
(917) 246-8581
Listed By:
Tali Berzak · License #10301209148
(917) 246-8581
Source:
Cbwarburg
Added: Mar 24
Changed: Aug 11
Last Checked: Aug 13 at 11:28AM
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.
Built in 1915 and comprehensively renovated, this two-family townhouse pairs restored architectural character with updated finishes and systems. The owner’s residence spans three levels and includes four bedrooms, an office, three full bathrooms, a powder room, and an internally accessed finished cellar with an additional half bath. Its parlor level combines living and dining areas with a renovated kitchen featuring marble counters, custom cabinetry, and Thermador, Bosch, Sharp, and Summit appliances. White oak flooring, custom millwork, and a full-sized LG washer and dryer add to the interior improvements.
A separate garden apartment provides one bedroom, a private entrance, a modern kitchen, in-suite laundry, and a full bathroom. The property is located in Stuyvesant Heights near Saraghina, Peaches, Trad Room, Laziza, and parks with playgrounds, basketball courts, and tennis courts. The A/C trains are available at Utica Avenue, and JFK Airport is described as a 30-minute drive away.
A separate garden apartment provides one bedroom, a private entrance, a modern kitchen, in-suite laundry, and a full bathroom. The property is located in Stuyvesant Heights near Saraghina, Peaches, Trad Room, Laziza, and parks with playgrounds, basketball courts, and tennis courts. The A/C trains are available at Utica Avenue, and JFK Airport is described as a 30-minute drive away.
Key Highlights
- 1915‑built townhouse with a full gut renovation
- Two‑family layout with an owner’s four‑bedroom triplex and one‑bedroom garden apartment
- Owner’s unit includes an office, finished cellar, 3 full bathrooms, and an additional half bath
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
Lease Details
2
Residential units
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 - Owner’s triplex includes four bedrooms, an office, finished cellar, and three full bathrooms.
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: 1915‑built townhouse with a full gut renovation; Two‑family layout with an owner’s four‑bedroom triplex and one‑bedroom garden apartment; Owner’s unit includes an office, finished cellar, 3 full bathrooms, and an additional half bath
