20-Unit Multifamily
950 Bergen Street Brooklyn, NY 11216
For Sale
Contact for pricing
Stabilized 20-unit multifamily building with diverse unit mix and fully occupied rent roll.
Property Size16,224 SF
Price / SF$391.40
Days on Market19
Property Features for 950 Bergen Street
General Information
- Standard status
- Active
- Size
- 16,224 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1931
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Andrew Bronsteen · License #NY10401314581
Source:
Crexi
Added: Jul 6
Changed: Jul 21
Last Checked: Jul 23 at 3:20PM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
950-952 Bergen Street presents a 20-unit multifamily building in Crown Heights, Brooklyn. The property is described as having a diverse unit mix and a fully occupied rent roll. Reported operating performance includes a current net operating income (NOI) of $400,017 and an in-place 6.3% cap rate, with pro forma projections showing a year-one NOI of $404,161 and a 6.4% pro forma cap rate. The residential units are also projected to generate $579,349 in gross potential rent.
The offering is listed at $6,350,000, which the materials present as $317,500 per unit and $391 per square foot. The remarks cite perfect 100 Walk and Transit Scores, along with immediate access to major cultural hubs.
The offering is listed at $6,350,000, which the materials present as $317,500 per unit and $391 per square foot. The remarks cite perfect 100 Walk and Transit Scores, along with immediate access to major cultural hubs.
Key Highlights
- Stabilized 20‑unit multifamily building at 950‑952 Bergen Street (Year built 1931).
- Fully occupied rent roll with projected gross potential rent of $579,349.
- In‑place 6.3% cap rate with current NOI of $400,017 (offered at $6,350,000).
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $918.9k | $56.64 |
| − Vacancy | −$18.4k | −$1.13 |
| EGI | $900.5k | $55.51 |
| − OpEx | −$405.2k | −$24.98 |
| NOI | $495.3k | $30.53 |
16,224 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.08M
$6.19M – $8.26M
NOI $495,302 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.43M
$11.75M – $15.67M
NOI $940,343 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Stabilized 20-unit multifamily building with diverse unit mix and fully occupied rent roll.
Where is this apartment building located?
The property is located at 950 Bergen Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,350,000.
What are key features of this property?
This property features: Stabilized 20‑unit multifamily building at 950‑952 Bergen Street (Year built 1931).; Fully occupied rent roll with projected gross potential rent of $579,349.; In‑place 6.3% cap rate with current NOI of $400,017 (offered at $6,350,000).
