8-Family Residential Apartment
89 Luquer Street Brooklyn, NY 11231
For Sale
$3,500,000
COMMERCIAL - Brooklyn, NY
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$700
Days on Market51
Property Features for 89 Luquer Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 8
- Rooms
- Bathroom 1, Bathroom 7, Bathroom 5, Bathroom 2, Bathroom 8, Bathroom 4, Bathroom 6, Bathroom 3
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 15324
Building Details
- Year built
- 1900
- Floors in Building
- 4
Listing Agency:
FRANK GALEANO LICENSED REAL ESTATE BROKER INC
(718) 596-9545
Listed By:
Francesco Galeano
(718) 596-9545
Added: Jun 6
Changed: Jul 22
Last Checked: Jul 26 at 3:06PM
MLS# 11874756
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
89 Luquer Street is a well-maintained 8-family residential building constructed in 1900. The property offers approximately 5,000 square feet on a 25' x 100' lot and includes 3 rent-stabilized apartments, with the remaining units described as offering long-term income potential. The building is reported to be in good condition.
The property is located in an R6B zoning district with a FAR of 3, providing approximately 2,500 square feet of additional buildable area (buyer to verify). Annual property taxes are approximately $15,324. The building is in Carroll Gardens with convenient access to Red Hook and Park Slope, and it is just moments from the F and G subway lines for commuting to Manhattan.
For sale, this multifamily asset combines existing rental income with documented development potential on-site (to be confirmed by the buyer).
The property is located in an R6B zoning district with a FAR of 3, providing approximately 2,500 square feet of additional buildable area (buyer to verify). Annual property taxes are approximately $15,324. The building is in Carroll Gardens with convenient access to Red Hook and Park Slope, and it is just moments from the F and G subway lines for commuting to Manhattan.
For sale, this multifamily asset combines existing rental income with documented development potential on-site (to be confirmed by the buyer).
Key Highlights
- 8‑family multifamily building built in 1900
- Approximately 5,000 SF on a 25' x 100' lot (buyer to verify)
- R6B zoning with FAR 3; provides approximately 2,500 SF additional buildable area for future upside (buyer to verify)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $283.2k | $56.64 |
| − Vacancy | −$5.7k | −$1.13 |
| EGI | $277.5k | $55.51 |
| − OpEx | −$124.9k | −$24.98 |
| NOI | $152.6k | $30.53 |
5,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Built in 1900, this well-maintained 8-family property includes additional buildable area under R6B zoning with FAR 3.
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: 8‑family multifamily building built in 1900; Approximately 5,000 SF on a 25' x 100' lot (buyer to verify); R6B zoning with FAR 3; provides approximately 2,500 SF additional buildable area for future upside (buyer to verify)
