Renovated Brownstone in Park
For Sale
$3,500,000
819 Union St, Brooklyn, NY 11215
Charming three-family brownstone in prime Park Slope location.
Property Size3,580 SF
Lot Size0.04 Acres
Days on Market168
Property Features for 819 Union St
General Information
Standard status
Active
Size
3,580 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,748
Building Details
Building Size
3,580 SF
Year Built
1901
Stories
3
Listing Agency:
BHHS Fillmore Real Estate
(718) 875-8899
Listed By:
John H. Johnson Jr · License #10301210448
(718) 875-8899
Source:
Elliman
Added: Mar 11
Changed: Aug 15
Last Checked: Aug 24 at 5:56AM
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 BHHS Fillmore Real Estate
Investment Insights
Based on property information with market context.
This renovated four-story brownstone is located in the Park Slope neighborhood of Brooklyn, NY. The property features three apartments. The first and second floors are combined into one unit, occupied by the owner. The second unit is on the third floor, and the third unit occupies the fourth floor; both are tenant-occupied with year-to-year leases. The entire property has been renovated, blending modern amenities with the building's original charm. The property is near the Barclays Center and offers access to shopping and dining options. Several public transportation options are available, including the R train at Union St station, the B and Q trains at 7th Avenue station, the 2 and 3 trains at Grand Army Plaza station, and the Atlantic Ave-Barclays Center station for additional B and Q train access. The property is being sold as-is.
Key Highlights
- Prime Park Slope Location: Excellent access to local amenities in a highly desirable Brooklyn neighborhood.
- Three Income‑Generating Units: Features three apartments, including an owner's unit and two tenant‑occupied units with reliable tenants.
- Fully Renovated: The entire brownstone has been thoughtfully renovated inside and out.
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
$125,378
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
3.58%
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%
$2,507,560
$2.5M
Cap Rate 7%
$1,791,114
$1.8M
Cap Rate 9%
$1,393,089
$1.4M
Market Conditions
NOI Build-Up for 3,580 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
$182.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$179.1K $50.03/SF
− OpEx
−$53.7K −$15.01/SF
NOI
$125.4K $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%
$2,507,560
Cap Rate 7%
$1,791,114
Cap Rate 9%
$1,393,089
Alternative Uses
Best Use
Multifamily LT 5
$1.79M
$1.57M – $2.09M
NOI $125,378 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,294 @ 7.0% cap · market cap 3.12%
Theoretical Best
Specialty Retail
$2.96M
$2.59M – $3.46M
NOI $207,497 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,385
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
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?
Triplex - Charming three-family brownstone in prime Park Slope location.
Where is this triplex located?
The property is located at 819 Union St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime Park Slope Location: Excellent access to local amenities in a highly desirable Brooklyn neighborhood.; Three Income‑Generating Units: Features three apartments, including an owner's unit and two tenant‑occupied units with reliable tenants.; Fully Renovated: The entire brownstone has been thoughtfully renovated inside and out.
