Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    239 Conselyea St Brooklyn, NY 11211

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2787810
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 239 Conselyea St

    Property type
    Commercial real estate

    Description

    This exceptional 6,084 square foot residential development site in Brooklyn's desirable Williamsburg neighborhood presents a rare opportunity. Located at 239-241 Conselyea Street, this R6A zoned lot offers approved plans and permits for a 24-unit residential building, including 15 two-bedroom and 9 one-bedroom units. The plans also incorporate 13 parking spaces (7 indoor and 6 outdoor), along with desirable amenities such as storage, a gym, and a green roof deck. The lot itself measures approximately 78 x 78 feet (irregular shape), yielding a total buildable square footage of 18,262. Its prime location offers easy access to public transportation, with the L train (Graham Avenue station) just three blocks away. Nearby parks include Cooper Park (two blocks), McGolrick Park, and McCarren Park (both within an eight-minute walk). Convenient access to the BQE is also a significant advantage. The property's annual taxes are $7,866. Approved plans are available upon request. This is an exceptional opportunity for developers seeking a turnkey project in a highly sought-after location. The asking price for this remarkable property is $7,650,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9416078
    Latitude
    40.7156475

    Comparable in this City

    • $7,250,000
      16,435 SF

      Williamsburg Mixed-Use Investment

      Prime Williamsburg multifamily building, high income.
      347 Bedford Ave, Brooklyn, NY 11211
      View Details
    • $4,899,000
      3,000 SF

      Williamsburg Triplex with Renovation Potential

      Three-family residence in Brooklyn with flexible layouts and expansion possibilities.
      382 Manhattan Ave, Brooklyn, NY 11211
      View Details
    • $3,499,999

      Brooklyn Two-Family Home with Balconies

      Two-family home in Brooklyn with multiple balconies and garage.
      277 S 2Nd St, Brooklyn, NY 11211
      View Details
    • $635,000

      South Williamsburg Three-Bedroom Apartment

      Spacious three-bedroom apartment in South Williamsburg near top restaurants.
      227 S 26Th St, Brooklyn, NY 11211
      View Details
    • $575,000

      Brooklyn Multifamily Property for Sale

      Multifamily property available in Brooklyn, New York.
      104 Division Ave, Brooklyn, NY 11211
      View Details
    • $2,850,000

      New Williamsburg Triplex with Terrace

      Brand new triplex in prime Williamsburg with private outdoor space.
      224 N 6Th St, New York City, NY 11211
      View Details

    Similar Nearby for Sale

    • $7,250,000
      16,435 SF

      Williamsburg Mixed-Use Investment

      Prime Williamsburg multifamily building, high income.
      347 Bedford Ave, Brooklyn, NY 11211
      View Details
    • $4,899,000
      3,000 SF

      Williamsburg Triplex with Renovation Potential

      Three-family residence in Brooklyn with flexible layouts and expansion possibilities.
      382 Manhattan Ave, Brooklyn, NY 11211
      View Details
    • $3,499,999

      Brooklyn Two-Family Home with Balconies

      Two-family home in Brooklyn with multiple balconies and garage.
      277 S 2Nd St, Brooklyn, NY 11211
      View Details
    • $635,000

      South Williamsburg Three-Bedroom Apartment

      Spacious three-bedroom apartment in South Williamsburg near top restaurants.
      227 S 26Th St, Brooklyn, NY 11211
      View Details
    • $575,000

      Brooklyn Multifamily Property for Sale

      Multifamily property available in Brooklyn, New York.
      104 Division Ave, Brooklyn, NY 11211
      View Details
    • $2,850,000

      New Williamsburg Triplex with Terrace

      Brand new triplex in prime Williamsburg with private outdoor space.
      224 N 6Th St, New York City, NY 11211
      View Details

    Similar Nearby for Lease

    • $4,100 /Mo

      Williamsburg One-Bedroom with Juliet Balcony

      Charming one-bedroom apartment with modern amenities and convenient location.
      6 Monitor St, Brooklyn, NY 11211
      View Details
    • $4,800 /Mo

      Skillman Avenue Apartment with Manhattan Views

      7-story building near Graham L train with furnished roof deck.
      234 Skillman Ave, Brooklyn, NY 11211
      View Details
    • $4,185 /Mo

      Spacious 1-Bedroom Apartment with Balcony

      Rent-stabilized 1-bedroom with balcony, storage, and rooftop access.
      17 Kingsland Ave, Brooklyn, NY 11211
      View Details
    • $3,600 /Mo

      Williamsburg Apartment with Unique Layout

      First-floor apartment near Graham Ave L train with desirable features.
      41 Maspeth Ave, Brooklyn, NY 11211
      View Details
    • $4,325 /Mo
      890 SF

      Spacious Williamsburg Apartment with Outdoor Oasis

      Full-floor 2-bedroom apartment with office and private outdoor space.
      362 Grand St, Brooklyn, NY 11211
      View Details
    • $5,995 /Mo

      Spacious Williamsburg Apartment with Amenities

      Full-floor, 2-bed, 2-bath apartment in prime Williamsburg location.
      317 S 4Th St, New York City, NY 11211
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    239 Conselyea St
    Brooklyn, NY 11211
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.