8-Unit Apartment
For Sale
$3,500,000
89 Luquer Street, Brooklyn, NY 11231
Three residences are rent-stabilized; the remaining apartments provide additional residential income capacity.
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$700
Days on Market143
Property Features for 89 Luquer Street
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.06 Acres
Property subtype
Multi Family Home
Zoning
R6B
Additional Details
Public Transit
Yes
Multifamily Units
8
Tenant in Place
Yes
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
CRYSTIN & CO REALTY LLC
Listed By:
Crystin Drowlette
(518) 986-5484
Source:
Crystinandcorealty
Added: Jun 6
Changed: Oct 25
Last Checked: Oct 23 at 3:39PM
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 CRYSTIN & CO REALTY LLC
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Investment Insights
Based on property information with market context.
This eight-unit multifamily property at 89 Luquer Street contains approximately 5,000 square feet on a 25' x 100' lot. Constructed in 1900, the building is described as well cared for, with apartments in good condition. Three units are rent-stabilized.
The property is in Carroll Gardens, with access to the F and G subway lines. Red Hook and Park Slope are also identified as nearby neighborhoods.
R6B zoning and a FAR of 3 are reported, along with approximately 2,500 square feet of additional buildable area; buyers should verify development capacity.
The property is in Carroll Gardens, with access to the F and G subway lines. Red Hook and Park Slope are also identified as nearby neighborhoods.
R6B zoning and a FAR of 3 are reported, along with approximately 2,500 square feet of additional buildable area; buyers should verify development capacity.
Key Highlights
- Eight apartments, including 3 rent‑stabilized units
- Approximately 5,000 square feet on a 25' x 100' lot
- R6B zoning with a FAR of 3
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,645
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,052,900
$3.1M
Cap Rate 7%
$2,180,643
$2.2M
Cap Rate 9%
$1,696,056
$1.7M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$283.2K $56.64/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$277.5K $55.51/SF
− OpEx
−$124.9K −$24.98/SF
NOI
$152.6K $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 Rate 5%
$3,052,900
Cap Rate 7%
$2,180,643
Cap Rate 9%
$1,696,056
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,645 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,800 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
4,037
Businesses Nearby
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Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three residences are rent-stabilized; the remaining apartments provide additional residential income capacity.
Where is this apartment building located?
The property is located at 89 Luquer Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Eight apartments, including 3 rent‑stabilized units; Approximately 5,000 square feet on a 25' x 100' lot; R6B zoning with a FAR of 3
