Renovated Four-Story Triplex
For Sale
$3,500,000
819 Union Street, Brooklyn, NY 11215
Residential, Brooklyn, NY
Property Size3,580 SF
Lot Size0.04 Acres
Price / SF$977.65
Days on Market351
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 3, Bathroom 1, Bathroom 4, Bathroom 2
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
Flat, Rubber
Listing Agency:
Brooklyn Real Property Inc.
(718) 875-8899
Listed By:
John H. Johnson Jr · License #10301210448
(646) 660-3585
Added: Oct 16, 2025
Changed: Sep 15
Last Checked: Oct 1 at 3:06PM
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.
This four-story brownstone contains three apartments within 3,580 square feet. The first and second floors form one combined residence, while the third-floor apartment includes two bedrooms, a full bathroom, living room, and kitchen. The fourth-floor unit is leased year to year. Interior and exterior renovations retain the building’s brownstone character while adding updated finishes, including hardwood flooring and kitchens equipped with refrigerators and stoves.
The property occupies a 0.0403-acre lot at 819 Union Street in Brooklyn’s Park Slope neighborhood. Shopping and dining options surround the property, with subway access at Union Street, 7th Avenue, Grand Army Plaza, and Atlantic Avenue–Barclays Center. The sale is offered as-is, and showings require an appointment because the fourth-floor apartment is occupied.
The property occupies a 0.0403-acre lot at 819 Union Street in Brooklyn’s Park Slope neighborhood. Shopping and dining options surround the property, with subway access at Union Street, 7th Avenue, Grand Army Plaza, and Atlantic Avenue–Barclays Center. The sale is offered as-is, and showings require an appointment because the fourth-floor apartment is occupied.
Key Highlights
- Three‑apartment brownstone configured across four stories
- 3,580 square feet on a 0.0403‑acre lot
- Renovated interior and exterior with hardwood flooring
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated brownstone with three apartments, hardwood floors, and access to multiple subway stations.
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: Three‑apartment brownstone configured across four stories; 3,580 square feet on a 0.0403‑acre lot; Renovated interior and exterior with hardwood flooring
