Four-Unit
New
For Sale
$2,575,000
887 Lafayette Ave, Brooklyn, NY 11221
Updated kitchens, private laundry, separate utility metering, and flexible outdoor space support the existing residential configuration.
Property Size3,496 SF
Price / SF$677.63
Days on Market4
Property Features for 887 Lafayette Ave
General Information
Standard status
Active
Size
3,496 SF
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,051
Amenities
hardwood flooring
oversized windows
updated quartz countertop kitchens
stainless steel appliances
in-unit washer and dryer
high ceilings
renovated tiled bathrooms
en-suite full baths
balconies
private rooftop terrace
paved backyard
marble bath
Building Details
Building Size
3,496 SF
Year Built
1899
Units
3
Construction
brownstone
Listing Agency:
keram inc
(718) 380-2500
Listed By:
Steven S. Benshabat
(718) 380-2500
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 10 at 8:36AM
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 keram inc
Investment Insights
Based on property information with market context.
This attached brownstone offers approximately 3,800 square feet and is currently arranged as four residential units, subject to municipal verification of legal use, occupancy, and configuration. The building contains 10 bedrooms and 6 full bathrooms, with hardwood floors, high ceilings, oversized windows, quartz-finished kitchens, stainless steel appliances, in-unit laundry, renovated tile bathrooms, and en-suite full baths. Some units include balconies.
A private rooftop terrace provides skyline views, while the paved backyard adds outdoor space. Each unit has separate gas and electric meters, an updated boiler, and a 40-gallon hot water tank. Tenants pay their own heat, gas, and electric expenses; the owner pays water. Built in 1899, the property is at 887 Lafayette Ave in Brooklyn, NY 11221, with a 92 Walk Score, 87 Bike Score, and 96 Transit Score.
A private rooftop terrace provides skyline views, while the paved backyard adds outdoor space. Each unit has separate gas and electric meters, an updated boiler, and a 40-gallon hot water tank. Tenants pay their own heat, gas, and electric expenses; the owner pays water. Built in 1899, the property is at 887 Lafayette Ave in Brooklyn, NY 11221, with a 92 Walk Score, 87 Bike Score, and 96 Transit Score.
Key Highlights
- Approximately 3,800 square feet configured as four residential units
- 10 bedrooms and 6 full bathrooms, including en‑suite full baths
- Updated quartz kitchens with stainless steel appliances and in‑unit washers and dryers
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
$133,082
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
5.17%
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%
$2,661,640
$2.7M
Cap Rate 7%
$1,901,171
$1.9M
Cap Rate 9%
$1,478,689
$1.5M
Market Conditions
NOI Build-Up for 3,800 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
$193.8K $51.00/SF
− Vacancy
−$3.7K −$0.97/SF
EGI
$190.1K $50.03/SF
− OpEx
−$57.0K −$15.01/SF
NOI
$133.1K $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%
$2,661,640
Cap Rate 7%
$1,901,171
Cap Rate 9%
$1,478,689
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,082 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $116,010 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$3.15M
$2.75M – $3.67M
NOI $220,248 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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?
Quadplex - Updated kitchens, private laundry, separate utility metering, and flexible outdoor space support the existing residential configuration.
Where is this quadplex located?
The property is located at 887 Lafayette Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: Approximately 3,800 square feet configured as four residential units; 10 bedrooms and 6 full bathrooms, including en‑suite full baths; Updated quartz kitchens with stainless steel appliances and in‑unit washers and dryers
