Waterfront Duplex with Canal
For Sale
$609,000
87 Bartlett Place, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,332 SF
Lot Size0.04 Acres
Price / SF$457.21
Days on Market466
Property Features for 87 Bartlett Place
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
1
Bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Patio and Porch features
Deck
Interior features
A/C Unit, Deck, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer, Window Treatments
Basement
Crawl Space
Subdivision
Gerritsen Beach
Standard status
Active
Size
1,332 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4179
Amenities
2 boast slips
rear deck
smaller deck
vaulted ceilings
walk-in closet
Building Details
Year built
1920
Flooring type
Laminate
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Tracey Real Estate
Listed By:
Robert Tracey · License #TRART8436
(718) 376-4994
Added: Jul 10, 2025
Changed: Sep 10
Last Checked: Oct 18 at 6:06AM
MLS# 494090
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 1,332-square-foot duplex occupies a 0.0385-acre waterfront lot along a canal in Gerritsen Beach. The home was raised in recent years and features a rear deck, an upper deck overlooking the canal, and a wood-frame structure with shingle roofing. Interior elements include a formal dining area, full kitchen, laundry area, three-quarter bath, large living room with vaulted ceilings, den, and a second-floor primary bedroom with a walk-in closet. Laminate flooring, window treatments, A/C units, and kitchen appliances are included.
The property is configured around its waterfront setting, with elevated outdoor spaces connected to the living areas and views across the canal. Built in 1920 and zoned R4, the duplex offers a residential income property format with established interior and exterior improvements.
The property is configured around its waterfront setting, with elevated outdoor spaces connected to the living areas and views across the canal. Built in 1920 and zoned R4, the duplex offers a residential income property format with established interior and exterior improvements.
Key Highlights
- Waterfront duplex on a canal in Gerritsen Beach
- 1,332 square feet on a 0.0385‑acre lot
- Raised in recent years with newer piles and bulkhead
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,649
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,980
$933.0K
Cap Rate 7%
$666,414
$666.4K
Cap Rate 9%
$518,322
$518.3K
Market Conditions
NOI Build-Up for 1,332 SF
Gross rent
$67.9K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$66.6K $50.03/SF
− OpEx
−$20.0K −$15.01/SF
NOI
$46.6K $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 Rate 5%
$932,980
Cap Rate 7%
$666,414
Cap Rate 9%
$518,322
Alternative Uses
Best Use
Multifamily LT 5
$666.4K
$583.1K – $777.5K
NOI $46,649 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.8K
NOI $40,665 @ 7.0% cap · market cap 6.68%
Theoretical Best
Specialty Retail
$1.10M
$965.0K – $1.29M
NOI $77,203 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Raised duplex with multiple decks, vaulted ceilings, and direct canal frontage.
Where is this duplex located?
The property is located at 87 Bartlett Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Waterfront duplex on a canal in Gerritsen Beach; 1,332 square feet on a 0.0385‑acre lot; Raised in recent years with newer piles and bulkhead
