Brick Four-Family
For Sale
$2,950,000
943 59th Street, Brooklyn, NY 11219
Residential, Brooklyn, NY
Property Size6,000 SF
Lot Size0.05 Acres
Price / SF$491.67
Days on Market98
Property Features for 943 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
11
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 5, Bathroom 7, Bedroom 1, Bathroom 8, Bathroom 2, Bedroom 2, Bedroom 8, Bathroom 6, Bathroom 4, Bedroom 4, Bedroom 10, Bathroom 5, Bedroom 11, Bedroom 3, Bedroom 6, Bedroom 9, Bathroom 1, Bedroom 7, Bathroom 3
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Sunset Park
Standard status
Active
Size
6,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
17493
Building Details
Year built
1990
Floors in Building
3
Number of units
4
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Jun 26
Changed: Sep 16
Last Checked: Oct 1 at 6:06PM
MLS# 502623
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This attached brick quadplex contains four residential units within a 3.5-story above-ground building. The first-floor apartment has two bedrooms and two bathrooms, while the second, third, and fourth floors each provide three bedrooms and two bathrooms. A full finished basement adds usable interior space. Hardwood and tile flooring, refrigerators, and stoves are included, while the building has a flat roof and was built in 1990.
The property is located in Sunset Park near shopping, restaurants, schools, parks, and public transportation. It is situated on a 20*100 lot, with a 20*55 building size, and carries R6 zoning. Heat and hot water are separately supplied.
The property is located in Sunset Park near shopping, restaurants, schools, parks, and public transportation. It is situated on a 20*100 lot, with a 20*55 building size, and carries R6 zoning. Heat and hot water are separately supplied.
Key Highlights
- Four‑family attached brick quadplex with 3.5 above‑ground stories
- First‑floor unit has 2 bedrooms and 2 bathrooms; upper units each have 3 bedrooms and 2 bathrooms
- Full finished basement provides additional usable space
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
$173,275
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
5.87%
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%
$3,465,500
$3.5M
Cap Rate 7%
$2,475,357
$2.5M
Cap Rate 9%
$1,925,278
$1.9M
Market Conditions
NOI Build-Up for 6,000 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
$259.2K $43.20/SF
− Vacancy
−$11.7K −$1.94/SF
EGI
$247.5K $41.26/SF
− OpEx
−$74.3K −$12.38/SF
NOI
$173.3K $28.88/SF
Area
ZIP 11219
Vacancy
4.50%
Lease Rate
$43.20 /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%
$3,465,500
Cap Rate 7%
$2,475,357
Cap Rate 9%
$1,925,278
Alternative Uses
Best Use
Multifamily LT 5
$2.48M
$2.17M – $2.89M
NOI $173,275 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$2.22M
$1.94M – $2.59M
NOI $155,541 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$3.89M
$3.40M – $4.54M
NOI $272,275 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
7,482
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Check the figures for this property
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?
Quadplex - Four residential units offer two- and three-bedroom layouts, each with two bathrooms and additional finished basement space.
Where is this quadplex located?
The property is located at 943 59th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Four‑family attached brick quadplex with 3.5 above‑ground stories; First‑floor unit has 2 bedrooms and 2 bathrooms; upper units each have 3 bedrooms and 2 bathrooms; Full finished basement provides additional usable space
