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    662 Madison St Brooklyn, NY 11221

    Sponsored
    For Sale
    $3,850,000

    8-Unit Apartment Building, High NOI

    Property size:
    10,160 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity in Brooklyn's Stuyvesant Heights. This 4-story, 10,160 sq ft brick building boasts eight renovated 4-5 bedroom units, each filled with natural light. Currently operating at 100% occupancy, generating a strong NOI of $342,000 and an 8.88% cap rate. Built in 1931, the property sits on a 3,117 sq ft lot and is zoned R6B. Conveniently located near the J, Z, A, and C train lines, offering easy access to Manhattan. The asking price is $3,850,000, translating to $378.94 per square foot and $481,250 per unit. This stabilized multifamily investment presents a compelling opportunity for significant returns. The building's classic charm has been thoughtfully preserved during renovations, creating a desirable living environment for tenants. This property offers a blend of historical character and modern updates, making it an attractive investment in a thriving Brooklyn neighborhood.

    Property Features for 662 Madison St

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,160 SF

    Building Details

    Year Built
    1931
    Buildings
    1
    Stories
    4
    Units
    8

    HighLights

    • Exceptional investment opportunity: 8‑unit, 10,160 sq ft multifamily building in Stuyvesant Heights, Brooklyn.
    • Eight renovated 4‑5 bedroom units, currently 100% occupied.
    • Strong NOI of $342,000 and 8.88% cap rate; asking price $3,850,000 ($378.94/sq ft, $481,250/unit).
    • Located near J, Z, A, and C subway lines, offering easy Manhattan access.
    • Sits on a 3,117 sq ft lot, zoned R6B.
    Property Profile Location Intelligence

    Current Use by Public Records

    Outpost Club | Stuyvesant ... Property Management Company

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9316967
    Latitude
    40.6867027

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    FAQs

    What type of property is this?
    Multifamily property - 8-Unit Apartment Building, High NOI
    Where is this multifamily property located?
    The property is located at 662 Madison St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $3,850,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 8-unit, 10,160 sq ft multifamily building in Stuyvesant Heights, Brooklyn.; Eight renovated 4-5 bedroom units, currently 100% occupied.; Strong NOI of $342,000 and 8.88% cap rate; asking price $3,850,000 ($378.94/sq ft, $481,250/unit).
    Request Owner's contact information
    662 Madison St Brooklyn, NY 11221
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    Brooklyn, NY 11221
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    662 Madison St Brooklyn, NY 11221
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