Prewar Brick
For Sale
$1,499,000
91 SOMERS Street, Brooklyn, NY 11233
Two-family townhouse with a triplex residence, separate upper apartment, private backyard, and unfinished cellar.
Property Size2,516 SF
Price / SF$595.79
Days on Market365
Property Features for 91 SOMERS Street
General Information
Standard status
Active
Size
2,516 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$47,988
Building Details
Building Size
2,516 SF
Year Built
1910
Listing Agency:
Corcoran Group
Listed By:
Christopher V Cavorti · License #10301206385
(914) 804-7091
Source:
Howardhannanyc
Added: Sep 26, 2025
Changed: Sep 23
Last Checked: Sep 24 at 3:49PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Built in 1910, this two-family brick townhouse contains approximately 3,304 gross square feet, including 2,516 square feet of interior residential space and a 788-square-foot cellar. The primary residence is a three-bedroom, one-and-a-half-bath triplex with a living room, updated kitchen, laundry area, two upper-level bedrooms, and a home office. An unfinished cellar provides additional storage or flexible recreational space, while the private backyard extends the usable living area.
The upper apartment offers one and a half bedrooms, one bathroom, a living area, and a large kitchen equipped with granite countertops and stainless-steel appliances. The property occupies an 18.75' x 100' lot and is zoned R6, with an FAR of 2.43 and approximately 2,040 buildable square feet. It is located between Broadway and Atlantic Avenues, near access to the J, Z, A, C, and L subway lines and the LIRR.
The upper apartment offers one and a half bedrooms, one bathroom, a living area, and a large kitchen equipped with granite countertops and stainless-steel appliances. The property occupies an 18.75' x 100' lot and is zoned R6, with an FAR of 2.43 and approximately 2,040 buildable square feet. It is located between Broadway and Atlantic Avenues, near access to the J, Z, A, C, and L subway lines and the LIRR.
Key Highlights
- Two‑family brick townhouse built in 1910
- Approximately 3,304 gross square feet, including a 788‑square‑foot cellar
- Primary residence is a 3‑bedroom, 1.5‑bath triplex
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
$88,115
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
5.88%
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%
$1,762,300
$1.8M
Cap Rate 7%
$1,258,786
$1.3M
Cap Rate 9%
$979,056
$979.1K
Market Conditions
NOI Build-Up for 2,516 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
$128.3K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$125.9K $50.03/SF
− OpEx
−$37.8K −$15.01/SF
NOI
$88.1K $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%
$1,762,300
Cap Rate 7%
$1,258,786
Cap Rate 9%
$979,056
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,115 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$1.10M
$960.1K – $1.28M
NOI $76,811 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.43M
NOI $145,827 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family townhouse with a triplex residence, separate upper apartment, private backyard, and unfinished cellar.
Where is this duplex located?
The property is located at 91 SOMERS Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Two‑family brick townhouse built in 1910; Approximately 3,304 gross square feet, including a 788‑square‑foot cellar; Primary residence is a 3‑bedroom, 1.5‑bath triplex
