Office Condominium with Private
For Sale
$1,250,000
943 60th Street #1A 1A, Brooklyn, NY 11219
Elevator-building office condominium configured for community facility use with private outdoor space.
Property Size1,471 SF
Price / SF$849.76
Days on Market61
Property Features for 943 60th Street #1A 1A
General Information
Standard status
Active
Size
1,471 SF
Property subtype
Commercial
Listing Agency:
DiTommaso Real Estate
Listed By:
Miao Ling Huang
(718) 667-8000
Source:
Prideestates
Added: Jul 9
Changed: Sep 2
Last Checked: Sep 6 at 9:07AM
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 DiTommaso Real Estate
Investment Insights
Based on property information with market context.
This office condominium occupies approximately 1,471 square feet within an elevator building and includes an 830-square-foot private terrace. The unit is currently arranged as a community facility space, providing an existing commercial configuration for office or other approved institutional uses.
Located at 943 60th Street #1A in Brooklyn, the property is non-owner occupied and offers flexibility for an end user or investor. A 25-year tax abatement has approximately 18 years remaining, supporting continued operating-cost planning. Any change in use remains subject to approval.
Located at 943 60th Street #1A in Brooklyn, the property is non-owner occupied and offers flexibility for an end user or investor. A 25-year tax abatement has approximately 18 years remaining, supporting continued operating-cost planning. Any change in use remains subject to approval.
Key Highlights
- Approximately 1,471 Sq Ft of interior space
- 830 Sq Ft private terrace
- 25‑year tax abatement with approximately 18 years remaining
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
$40,273
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
3.22%
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%
$805,460
$805.5K
Cap Rate 7%
$575,329
$575.3K
Cap Rate 9%
$447,478
$447.5K
Market Conditions
NOI Build-Up for 1,471 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
$68.8K $46.80/SF
− Vacancy
−$15.1K −$10.30/SF
EGI
$53.7K $36.50/SF
− OpEx
−$13.4K −$9.13/SF
NOI
$40.3K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /SF/Yr
Expense Ratio
25.00%
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%
$805,460
Cap Rate 7%
$575,329
Cap Rate 9%
$447,478
Alternative Uses
Best Use
Office B
$575.3K
$503.4K – $671.2K
NOI $40,273 @ 7.0% cap · market cap 3.22%
Second Best
Healthcare Medical
$443.0K
$387.6K – $516.9K
NOI $31,011 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$953.6K
$834.4K – $1.11M
NOI $66,753 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Elevator-building office condominium configured for community facility use with private outdoor space.
Where is this office units located?
The property is located at 943 60th Street #1A 1A Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 1,471 Sq Ft of interior space; 830 Sq Ft private terrace; 25‑year tax abatement with approximately 18 years remaining
