Deeded Parking Studio
For Sale
$550,000
906 Prospect Place 1A, Brooklyn, NY 11213
Oversized alcove studio with a private laundry room and in-unit washer/dryer, plus deeded parking in a boutique building.
Property Size504 SF
Price / SF$1,091
Days on Market24
Property Features for 906 Prospect Place 1A
General Information
Standard status
Active
Size
504 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Multifamily Units
1
Parking per Unit
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,116
Amenities
in-unit washer/dryer
virtual doorman
bike storage
roof deck
Building Details
Building Size
504 SF
Year Built
2018
Listing Agency:
Compass
(347) 328-3505
Listed By:
Shameika Wade · License #387653
(347) 328-3505
Source:
Howardhannanyc
Added: Jul 23
Changed: Aug 14
Last Checked: Aug 14 at 1:25PM
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 Compass
Investment Insights
Based on property information with market context.
This oversized alcove studio (1A) is offered with deeded parking and in-unit convenience, including a dedicated private laundry room with a Bosch washer and dryer. The residence features four-inch white oak flooring, expansive windows, a chef-inspired kitchen with custom Caesarstone countertops and backsplashes, imported white lacquer cabinetry, and a Fisher & Paykel stainless-steel appliance suite. The bathroom includes a floating vanity, a deep soaking tub, and Vigo fixtures. The apartment is part of a boutique collection of 22 residences and was built in 2018.
Residents have access to a virtual doorman, bike storage, and a beautifully landscaped roof deck. The home is located in Crown Heights near Prospect Park and cultural landmarks including the Brooklyn Museum and Botanic Garden, with six subway lines nearby.
From a layout and finishes standpoint, the unit is designed around natural light and an efficient studio plan with distinct living and utility spaces, while the deeded parking provides everyday practicality in the neighborhood.
Residents have access to a virtual doorman, bike storage, and a beautifully landscaped roof deck. The home is located in Crown Heights near Prospect Park and cultural landmarks including the Brooklyn Museum and Botanic Garden, with six subway lines nearby.
From a layout and finishes standpoint, the unit is designed around natural light and an efficient studio plan with distinct living and utility spaces, while the deeded parking provides everyday practicality in the neighborhood.
Key Highlights
- Deeded parking included with studio residence
- Dedicated private laundry room with Bosch washer and dryer
- Oversized alcove studio with four‑inch white oak flooring and expansive windows
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
$15,387
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
2.80%
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%
$307,740
$307.7K
Cap Rate 7%
$219,814
$219.8K
Cap Rate 9%
$170,967
$171.0K
Market Conditions
NOI Build-Up for 504 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
$28.5K $56.64/SF
− Vacancy
−$571 −$1.13/SF
EGI
$28.0K $55.51/SF
− OpEx
−$12.6K −$24.98/SF
NOI
$15.4K $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 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%
$307,740
Cap Rate 7%
$219,814
Cap Rate 9%
$170,967
Alternative Uses
Best Use
Apartment 5plus
$219.8K
$192.3K – $256.5K
NOI $15,387 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$417.3K
$365.2K – $486.9K
NOI $29,212 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,726
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Oversized alcove studio with a private laundry room and in-unit washer/dryer, plus deeded parking in a boutique building.
Where is this residential income property located?
The property is located at 906 Prospect Place 1A Brooklyn, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Deeded parking included with studio residence; Dedicated private laundry room with Bosch washer and dryer; Oversized alcove studio with four‑inch white oak flooring and expansive windows
