Brick Four-Family
For Sale
$2,950,000
947 59th Street, Brooklyn, NY 11219
MULTI_FAMILY - Brooklyn, NY
Property Size6,000 SF
Lot Size0.05 Acres
Price / SF$491.67
Days on Market49
Property Features for 947 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
11
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 7, Bathroom 6, Bathroom 4, Bedroom 9, Bedroom 1, Bathroom 3, Bedroom 11, Bathroom 1, Bathroom 7, Bedroom 4, Bedroom 6, Bedroom 8, Bathroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 10, Bathroom 8
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sunset Park
Standard status
Active
Size
6,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
14409
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
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Jun 26
Changed: Aug 4
Last Checked: Aug 13 at 4:06AM
MLS# 502625
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.
Brick Four-Family Quadplex with a 3.5-story above-ground, attached configuration and flat roof. The building is 20*55 in size and sits on a 20*100 lot (0.046 acres). Year built is 1990, with tile and hardwood flooring and a brick exterior.
The layout provides tenant-ready unit variety: the 1FL includes 2 bedrooms and 2 bathrooms, while the 2nd, 3rd, and 4th floors each include 3 bedrooms and 2 bathrooms. A full finished basement adds additional usable space. Heat and hot water are separately supplied.
Located at 947 59th Street in Brooklyn’s 11219 area, the property is positioned near shopping, restaurants, schools, parks, and public transportation.
The layout provides tenant-ready unit variety: the 1FL includes 2 bedrooms and 2 bathrooms, while the 2nd, 3rd, and 4th floors each include 3 bedrooms and 2 bathrooms. A full finished basement adds additional usable space. Heat and hot water are separately supplied.
Located at 947 59th Street in Brooklyn’s 11219 area, the property is positioned near shopping, restaurants, schools, parks, and public transportation.
Key Highlights
- 2055 building size on a 20100 lot (0.046 acres) in attached brick quadplex
- 3.5‑story above‑ground brick four‑family with flat roof and full finished basement
- Unit mix: 1FL 2 bed/2 bath; 2nd–4th floors each 3 bed/2 bath
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - R6 zoned brick quadplex with flat roof, full finished basement, and separately supplied heat and hot water.
Where is this quadplex located?
The property is located at 947 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: 20*55 building size on a 20*100 lot (0.046 acres) in attached brick quadplex; 3.5‑story above‑ground brick four‑family with flat roof and full finished basement; Unit mix: 1FL 2 bed/2 bath; 2nd–4th floors each 3 bed/2 bath
