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    93 6Th Ave Brooklyn, NY 11217

    Sponsored
    For Sale
    $3,500,000

    Historic 7-unit building, high NOI, 4.6% cap rate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 7-unit multifamily building at 93 6th Avenue in Brooklyn's coveted Park Slope neighborhood, bordering Prospect Heights, presents a rare investment opportunity. Located in a historic district, this property boasts a strong financial performance with a Net Operating Income (NOI) of $161,103 and a compelling 4.60% capitalization rate. The asking price is $3,500,000, making it an attractive proposition for 1031 exchange buyers. Built in 1920, the building comprises seven apartments: a garden apartment on the ground floor and two one-bedroom units on each of the second, third, and fourth floors. Currently, two units are vacant – one market-rate and one rent-stabilized, offering potential for increased revenue. The building is equipped with an oil-forced air heating system. This is a unique asset, having been owned by the same individual for over four decades and now offered for sale for the first time in many years. The property's prime location in a desirable Brooklyn neighborhood, combined with its strong financial performance and historical significance, makes it an ideal investment for discerning buyers. Kings County location, zip code 11217.

    Property Features for 93 6Th Ave

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Year Built
    1920
    Units
    7

    HighLights

    • 7‑unit multifamily building in Park Slope, Brooklyn, bordering Prospect Heights.
    • $3,500,000 asking price with a $161,103 NOI and 4.60% cap rate.
    • Seven apartments: one garden unit and six one‑bedroom units (two currently vacant).
    • Oil‑forced air heating.
    • First time on the market in over 40 years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9750571
    Latitude
    40.6794394

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    FAQs

    What type of property is this?
    Multifamily property - Historic 7-unit building, high NOI, 4.6% cap rate
    Where is this multifamily property located?
    The property is located at 93 6Th Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: 7-unit multifamily building in Park Slope, Brooklyn, bordering Prospect Heights.; $3,500,000 asking price with a $161,103 NOI and 4.60% cap rate.; Seven apartments: one garden unit and six one-bedroom units (two currently vacant).
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    93 6Th Ave Brooklyn, NY 11217
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    Brooklyn, NY 11217
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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
    93 6Th Ave Brooklyn, NY 11217
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