Two-Family Brownstone
New
For Sale
$2,495,000
88 Pulaski Street, Brooklyn, NY 11206
Garden and parlor levels form an owner’s residence, with a separate top-floor apartment and private rear yard.
Property Size3,362 SF
Price / SF$742.12
Days on Market6
Property Features for 88 Pulaski Street
General Information
Standard status
Active
Size
3,362 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,000
Amenities
private backyard
washer/dryer
Building Details
Building Size
3,362 SF
Year Built
1899
Buildings
1
Construction
brownstone
Listing Agency:
Corcoran Group
(917) 406-0338
Listed By:
Eliane Bugod · License #10401327170
(917) 406-0338
Source:
Howardhannanyc
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 10 at 9:12AM
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.
Built in 1899, this two-family brownstone is arranged as an owner’s duplex across the garden and parlor levels, plus a separate two-bedroom apartment on the top floor. The duplex includes living and dining areas, a kitchen, three bedrooms, a basement, and access to a private backyard. The upper apartment provides two additional bedrooms, a full bath, a kitchen, and a washer and dryer.
Original moldings, woodwork, arched openings, and high ceilings preserve the building’s historic character. The property is located at 88 Pulaski Street in Brooklyn’s Bedford-Stuyvesant area, on a tree-lined block near Tompkins Avenue dining and retail, the G train at Classon Avenue and Bedford-Nostrand Avenues, Pratt Institute, and Herbert Von King Park.
Original moldings, woodwork, arched openings, and high ceilings preserve the building’s historic character. The property is located at 88 Pulaski Street in Brooklyn’s Bedford-Stuyvesant area, on a tree-lined block near Tompkins Avenue dining and retail, the G train at Classon Avenue and Bedford-Nostrand Avenues, Pratt Institute, and Herbert Von King Park.
Key Highlights
- Two‑family brownstone configuration with an owner’s duplex and separate top‑floor apartment
- Owner’s duplex spans the garden and parlor levels and includes three bedrooms
- Separate top‑floor apartment includes 2 bedrooms, full bath, kitchen, and washer and dryer
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
$117,743
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
4.72%
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%
$2,354,860
$2.4M
Cap Rate 7%
$1,682,043
$1.7M
Cap Rate 9%
$1,308,256
$1.3M
Market Conditions
NOI Build-Up for 3,362 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
$171.5K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$168.2K $50.03/SF
− OpEx
−$50.5K −$15.01/SF
NOI
$117.7K $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%
$2,354,860
Cap Rate 7%
$1,682,043
Cap Rate 9%
$1,308,256
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,743 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$1.47M
$1.28M – $1.71M
NOI $102,638 @ 7.0% cap · market cap 4.11%
Theoretical Best
Specialty Retail
$2.78M
$2.44M – $3.25M
NOI $194,862 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
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?
Duplex - Garden and parlor levels form an owner’s residence, with a separate top-floor apartment and private rear yard.
Where is this duplex located?
The property is located at 88 Pulaski Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Two‑family brownstone configuration with an owner’s duplex and separate top‑floor apartment; Owner’s duplex spans the garden and parlor levels and includes three bedrooms; Separate top‑floor apartment includes 2 bedrooms, full bath, kitchen, and washer and dryer
