Renovated Triplex
For Sale
$3,500,000
819 Union Street, Brooklyn, NY 11215
MULTI_FAMILY - Brooklyn, NY
Property Size3,580 SF
Lot Size0.04 Acres
Price / SF$977.65
Days on Market314
Property Features for 819 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6A
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Park Slope
Standard status
Active
Size
3,580 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
9748
Building Details
Year built
1901
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Roof type
Rubber, Flat
Listing Agency:
Brooklyn Real Property Inc.
(718) 875-8899
Listed By:
John H. Johnson Jr · License #10301210448
(718) 875-8899
Added: Oct 16, 2025
Changed: Aug 12
Last Checked: Aug 25 at 1:06AM
MLS# 496667
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Four-story three-family brownstone with R6A zoning, renovated throughout inside and out. The first and second floors are combined as the owner’s unit, and the fourth floor is tenant-occupied on a year-to-year lease. The third-floor unit is vacant at this time and includes two bedrooms, a full bath with a shower, a living room, and a kitchen, with updates called out for that unit. Flooring is hardwood, and interior features include a refrigerator and stove.
The property is at 819 Union Street in Brooklyn (11215) on a 0.0403-acre lot. The building was constructed in 1901 and features a flat, rubber roof. For transit access, it is described as being minutes to multiple subway stations, including the R train at Union St, the B & Q trains at 7th Avenue, the 2 & 3 trains at Grand Army Plaza, and the Atlantic Ave–Barclays Center station for additional B & Q service.
Sold as-is, with no warranties or representations. Viewings are by appointment, and the fourth-floor unit is currently occupied.
The property is at 819 Union Street in Brooklyn (11215) on a 0.0403-acre lot. The building was constructed in 1901 and features a flat, rubber roof. For transit access, it is described as being minutes to multiple subway stations, including the R train at Union St, the B & Q trains at 7th Avenue, the 2 & 3 trains at Grand Army Plaza, and the Atlantic Ave–Barclays Center station for additional B & Q service.
Sold as-is, with no warranties or representations. Viewings are by appointment, and the fourth-floor unit is currently occupied.
Key Highlights
- R6A zoning for a three‑family triplex brownstone at 819 Union Street, Brooklyn 11215
- Tenant‑occupied fourth‑floor unit on a year‑to‑year lease; third‑floor unit vacant
- First and second floors combined as the owner’s unit
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
Lease Details
3
Residential units
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 - Four-story, three-family brownstone with R6A zoning, including a vacant third-floor unit and a tenant-occupied fourth floor.
Where is this triplex located?
The property is located at 819 Union Street 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: R6A zoning for a three‑family triplex brownstone at 819 Union Street, Brooklyn 11215; Tenant‑occupied fourth‑floor unit on a year‑to‑year lease; third‑floor unit vacant; First and second floors combined as the owner’s unit
