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    1153 Broadway Brooklyn, NY 11221

    Sponsored
    For Sale
    $9,800,000

    16-unit building, high NOI, strong cap rate.

    Property size:
    15,517 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A mixed-use property, located at 1153-1155 Broadway in Brooklyn, NY (zip code 11221), presents a compelling investment opportunity. The newly constructed, four-story building boasts a total of 15,517 square feet, encompassing 16 units: fourteen residential apartments and two commercial spaces. Situated on a 3,225 square foot lot, the property benefits from a prime location, steps away from the Kosciuszko Street and Central Avenue stations (J & M train lines), providing convenient access to both Brooklyn and Manhattan. The building features a 97% occupancy rate, generating a current NOI of $588,000 and a pro-forma NOI of $618,100, resulting in a current cap rate of 6.00% and a pro-forma cap rate of 6.31%. The asking price is $9,800,000, translating to a price per square foot of $631.57 and a price per unit of $612,500. Amenities include a gym, laundry room, storage, and rooftop access. The property is zoned R6 and benefits from a 421a tax abatement. Tenants are responsible for all utilities. This turnkey investment offers significant potential for strong returns.

    Property Features for 1153 Broadway

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,517 SF
    Class
    A

    Building Details

    Buildings
    2
    Stories
    4
    Units
    16

    HighLights

    • 14‑unit apartment building with 2 commercial units, four stories.
    • Turnkey property with 421a tax abatement in place.
    • Tenants pay all utilities.
    • Building amenities include gym, laundry, storage, and rooftop access.
    • Excellent transit access: steps from J & M subway lines.
    Property Profile Location Intelligence

    Current Use by Public Records

    Charles A. Ciaccio, RPH Pharmacy 1153 Gourmet Market ... Grocery Store La Cafeteria Bk Breakfast Restaurant We Care Home ... Surgical Supply Store Kenneth Silverman Pharmacy

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store 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
    -73.928466654107
    Latitude
    40.693255731522

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    FAQs

    What type of property is this?
    Multifamily property - 16-unit building, high NOI, strong cap rate.
    Where is this multifamily property located?
    The property is located at 1153 Broadway Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $9,800,000.
    What are key features of this property?
    This property features: 14-unit apartment building with 2 commercial units, four stories.; Turnkey property with 421a tax abatement in place.; Tenants pay all utilities.
    Request Owner's contact information
    1153 Broadway 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
    1153 Broadway Brooklyn, NY 11221
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