867 53rd Street, Brooklyn, NY 11220

Building Details

Year built 2023 More

Number of units 1 More

Building materials Brick More

Listing Agency: Tiger Realty

Listed By: Yan Mei (Jamie) Zheng Show Phone

Added: Apr 2 Changed: Oct 10 Last Checked: Nov 9 at 11:06AM

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MLS# 500179

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.

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Investment Insights

Based on property information with market context.

This vacant fourth-floor office condominium provides 1,439 square feet within a brick building completed in 2023. Elevator service supports access to the unit, while the space is available for a new occupant or owner-user. The property carries R6 zoning and benefits from a 15-year tax abatement.

Located in Brooklyn’s Sunset Park, the unit is near major banks and shopping options. It is identified as the fourth of seven commercial condominium units available in the building, with the option to acquire the units together. The property is situated at 867 53rd Street, Brooklyn, NY 11220.

Key Highlights

• 1,439‑square‑foot fourth‑floor office unit
• Vacant space ready for occupancy
• Elevator access in a brick building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,971

Cap Rate

3.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$859,420 $859.4K

Cap Rate 7%

$613,871 $613.9K

Cap Rate 9%

$477,456 $477.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,439 SF

Gross rent

$72.5K $50.40/SF

− Vacancy

−$15.2K −$10.58/SF

EGI

$57.3K $39.82/SF

− OpEx

−$14.3K −$9.95/SF

NOI

$43.0K $29.86/SF

Area

ZIP 11220

Vacancy

21.00%

Lease Rate

$50.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$859,420

Cap Rate 7%

$613,871

Cap Rate 9%

$477,456

Alternative Uses

Best Use

Office B

$613.9K

$537.1K – $716.2K (±1% cap)

NOI $42,971 @ 7.0% cap · market cap 3.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$932.9K

$816.3K – $1.09M (±1% cap)

NOI $65,301 @ 7.0% cap · market cap 5.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Times English tutoring ... Training Center

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Gym & Fitness Center Skin Care Clinic Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7

Office units

Location Intelligence

Trade Area within ½ mile

7,955

Businesses Nearby

Explore this area Business Placement

Demographics for 11220, NY

105,797

Population

30,897

Households

3.4

Avg Household Size

35

Median Age

25%

College-Educated

62%

High-School Grad

1.7 sq mi

ZIP Area

62,234

Density / Sq Mi

$64,201

Median Household Income

$31,489

Median Earnings

$1,688

Median Rent

$1,021,200

Median Home Value

Market

Average Price Trend$/SF for Office Units in Brooklyn, NY

$634 Jul

$595 Aug

$633 Sep

$636 Oct

Properties on Market for Office Units in Brooklyn

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Vacant office space with elevator access, brick construction, and R6 zoning.

Where is this office unit located?

The property is located at 867 53rd Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: 1,439‑square‑foot fourth‑floor office unit; Vacant space ready for occupancy; Elevator access in a brick building