8-Unit Apartment
914 PROSPECT Place, Brooklyn, NY 11213
For Sale
New
$3,750,000
The residential mix combines free-market and rent-stabilized apartments, with a private backyard.
Property Size9,000 SF
Price / SF$416.67
Days on Market3
Property Features for 914 PROSPECT Place
General Information
Standard status
Size
Property subtype
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Corcoran Group
Listed By:
Amar Jehs · License #10401305529 (NY)
(347) 415-8722
Source:
Carlinwright
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 1:18PM
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
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Investment Insights
Based on property information with market context.
This 8-unit apartment property was built in 1905 and contains 9,000 square feet. The unit mix comprises 6 free-market apartments and 2 rent-stabilized apartments. Spacious two-bedroom layouts exceed 1,000 square feet, and the property includes a private backyard.
The property is near Prospect Park, the Brooklyn Botanical Garden, and the Brooklyn Museum, with neighborhood restaurants, cafés, and shops also nearby. The sale combines two separate buildings with a shared basement and utilities.
The property is near Prospect Park, the Brooklyn Botanical Garden, and the Brooklyn Museum, with neighborhood restaurants, cafés, and shops also nearby. The sale combines two separate buildings with a shared basement and utilities.
Key Highlights
- 8 residential units: 6 free‑market and 2 rent‑stabilized
- 9,000 SF; built in 1905
- Two‑bedroom layouts exceed 1,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$274,761
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,495,220
$5.5M
Cap Rate 7%
$3,925,157
$3.9M
Cap Rate 9%
$3,052,900
$3.1M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$509.8K $56.64/SF
− Vacancy
−$10.2K −$1.13/SF
EGI
$499.6K $55.51/SF
− OpEx
−$224.8K −$24.98/SF
NOI
$274.8K $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%
$5,495,220
Cap Rate 7%
$3,925,157
Cap Rate 9%
$3,052,900
Alternative Uses
Best Use
Apartment 5plus
$3.93M
$3.43M – $4.58M
NOI $274,761 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.45M
$6.52M – $8.69M
NOI $521,640 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
6,726
Businesses Nearby
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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
$1,184,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Brooklyn, NY
Properties on Market for Apartment buildings in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The residential mix combines free-market and rent-stabilized apartments, with a private backyard.
Where is this apartment building located?
The property is located at 914 PROSPECT Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 8 residential units: 6 free‑market and 2 rent‑stabilized; 9,000 SF; built in 1905; Two‑bedroom layouts exceed 1,000 SF
