Luxury 5-Unit Apartment
For Sale
Contact for pricing
326 Avenue U, Brooklyn, NY 11223
Premier 5-unit apartment building in Gravesend, Brooklyn with high-end finishes.
Property Size6,500 SF
Price / SF$1,076
Days on Market1106
Property Features for 326 Avenue U
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Multifamily
Zoning
R6A, C1-4
Investment Type
Owner/User
Building Details
Year Built
2023
Buildings
1
Stories
5
Units
5
Listing Agency:
NY SPACE FINDERS INC,
(347) 242-0353
Listed By:
LUCA DICIERO · License #10351202702
Source:
Crexi
Added: Aug 3, 2023
Changed: Aug 12
Last Checked: May 13 at 8:21PM
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 NY SPACE FINDERS INC,
Investment Insights
Based on property information with market context.
This 5-unit apartment building is located in Gravesend, Brooklyn. The 55-foot tall structure contains 5 residential units within its 9,060 square feet, with 6,340 square feet dedicated to residential space. Each unit features high-end finishes. The ground floor unit is a 2-bedroom, 2-bathroom duplex layout. Units 2, 3, and 4 feature 2-bedroom, 1-bathroom floor plans. The penthouse has lofty ceilings and panoramic views, with a 2-bedroom, 2-bathroom layout. Each unit includes a private balcony and laundry facilities. The building is designed for sustainability, with efficient design and strategic planning to reduce environmental impact and maximize energy efficiency. The property is located near attractions, educational institutions, retail, and transportation links, providing connectivity to Brooklyn. This property is suitable as an investment opportunity in rental properties or as condominiums.
Key Highlights
- New 5‑unit apartment building in Gravesend, Brooklyn, offering a blend of luxury and modern design.
- Spacious units with high‑end finishes and private balconies.
- Penthouse unit features lofty ceilings and panoramic city views.**
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
$198,438
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
2.84%
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%
$3,968,760
$4.0M
Cap Rate 7%
$2,834,829
$2.8M
Cap Rate 9%
$2,204,867
$2.2M
Market Conditions
NOI Build-Up for 6,500 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
$368.2K $56.64/SF
− Vacancy
−$7.4K −$1.13/SF
EGI
$360.8K $55.51/SF
− OpEx
−$162.4K −$24.98/SF
NOI
$198.4K $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%
$3,968,760
Cap Rate 7%
$2,834,829
Cap Rate 9%
$2,204,867
Alternative Uses
Best Use
Apartment 5plus
$2.83M
$2.48M – $3.31M
NOI $198,438 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,740 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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?
Apartment building - Premier 5-unit apartment building in Gravesend, Brooklyn with high-end finishes.
Where is this apartment building located?
The property is located at 326 Avenue U Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,998,888.
What are key features of this property?
This property features: New 5‑unit apartment building in Gravesend, Brooklyn, offering a blend of luxury and modern design.; Spacious units with high‑end finishes and **private balconies**.; Penthouse unit features lofty ceilings and panoramic city views.**
