Renovated Residential Income
For Sale
$549,000
856 43rd Street 7, Brooklyn, NY 11232
Second-floor two-bedroom residence with preserved prewar details and updated kitchen and bath.
Property Size800 SF
Price / SF$686.25
Days on Market17
Property Features for 856 43rd Street 7
General Information
Standard status
Active
Size
800 SF
Property subtype
Apartment
Building Details
Building Size
800 SF
Year Built
1922
Listing Agency:
Corcoran Group
Listed By:
Irine Blyumin · License #10301214543 (NY)
(347) 489-7902
Source:
Carlinwright
Added: Sep 15
Changed: Sep 30
Last Checked: Sep 30 at 5:22PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This second-floor two-bedroom residence combines prewar character with practical updates. The 800-square-foot layout receives light from north, south, and east exposures and includes ceilings exceeding nine feet, solid oak parquet flooring, an eat-in kitchen with a dishwasher and in-unit washer-dryer combination, plus a windowed bathroom with a cast iron soaking tub.
The home is part of a self-managed, financially sound 36-unit cooperative constructed in 1922. Building features include a live-in superintendent, basement laundry facilities, and deeded individual storage assigned to each unit. The property is located at 856 43rd Street in Brooklyn’s Sunset Park, approximately two blocks from Sunset Park and roughly ten minutes from Bush Terminal Piers Waterfront Park and Industry City. Access to the D train, local buses, neighborhood cafes, and Eighth Avenue adds everyday convenience.
The home is part of a self-managed, financially sound 36-unit cooperative constructed in 1922. Building features include a live-in superintendent, basement laundry facilities, and deeded individual storage assigned to each unit. The property is located at 856 43rd Street in Brooklyn’s Sunset Park, approximately two blocks from Sunset Park and roughly ten minutes from Bush Terminal Piers Waterfront Park and Industry City. Access to the D train, local buses, neighborhood cafes, and Eighth Avenue adds everyday convenience.
Key Highlights
- 800‑square‑foot second‑floor two‑bedroom residence
- Three exposures: north, south, and east
- Nine‑plus‑foot ceilings and solid oak parquet floors
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
$24,423
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
4.45%
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%
$488,460
$488.5K
Cap Rate 7%
$348,900
$348.9K
Cap Rate 9%
$271,367
$271.4K
Market Conditions
NOI Build-Up for 800 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
$45.3K $56.64/SF
− Vacancy
−$906 −$1.13/SF
EGI
$44.4K $55.51/SF
− OpEx
−$20.0K −$24.98/SF
NOI
$24.4K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$488,460
Cap Rate 7%
$348,900
Cap Rate 9%
$271,367
Alternative Uses
Best Use
Apartment 5plus
$348.9K
$305.3K – $407.1K
NOI $24,423 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$662.4K
$579.6K – $772.8K
NOI $46,368 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor two-bedroom residence with preserved prewar details and updated kitchen and bath.
Where is this residential income property located?
The property is located at 856 43rd Street 7 Brooklyn, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 800‑square‑foot second‑floor two‑bedroom residence; Three exposures: north, south, and east; Nine‑plus‑foot ceilings and solid oak parquet floors
