One-Bedroom Residential Income
For Sale
$625,000
954 Bergen Street 5D, Brooklyn, NY 11216
Light-filled condominium residence with high ceilings, modern finishes, and access to elevator-building amenities.
Property Size585 SF
Price / SF$1,068
Days on Market82
Property Features for 954 Bergen Street 5D
General Information
Standard status
Active
Size
585 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,144
Amenities
bike storage
roof access
on-site parking
pet-friendly
Building Details
Building Size
585 SF
Year Built
2015
Listing Agency:
Compass
(917) 572-2583
Listed By:
Delson Ronit Abraham
(917) 572-2583
Source:
Howardhannanyc
Added: Jun 11
Changed: Aug 31
Last Checked: Aug 31 at 12:45AM
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 Compass
Investment Insights
Based on property information with market context.
This 585-square-foot, one-bedroom condominium is located on the fifth floor of a 36-unit elevator building completed in 2015. The residence features an open living and dining area, oversized windows, high ceilings, wide-plank white oak flooring, and split-system heating and cooling. Its kitchen includes stainless steel appliances, a dishwasher, combination washer and dryer, red cabinetry, and black Caesarstone countertops. The bedroom has extensive window exposure and a generous closet, while the bathroom offers a deep soaking tub, rain showerhead, and heated tile flooring.
Building amenities include shared roof access and complimentary bike storage, with on-site parking available for rent or purchase. The property is near Franklin Avenue, the 2/3/4/5 trains at Eastern Parkway, the C train at Fulton Street, CitiBike stations, and express buses. The Brooklyn Museum, Botanic Garden, Brooklyn Public Library, Grand Army Plaza Greenmarket, and Prospect Park are also nearby. Pets are permitted, and the residence has low common charges.
Building amenities include shared roof access and complimentary bike storage, with on-site parking available for rent or purchase. The property is near Franklin Avenue, the 2/3/4/5 trains at Eastern Parkway, the C train at Fulton Street, CitiBike stations, and express buses. The Brooklyn Museum, Botanic Garden, Brooklyn Public Library, Grand Army Plaza Greenmarket, and Prospect Park are also nearby. Pets are permitted, and the residence has low common charges.
Key Highlights
- 585 SF one‑bedroom condominium on the fifth floor
- 36‑unit elevator building completed in 2015
- Open living and dining area with oversized windows and high ceilings
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
$17,859
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
2.86%
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%
$357,180
$357.2K
Cap Rate 7%
$255,129
$255.1K
Cap Rate 9%
$198,433
$198.4K
Market Conditions
NOI Build-Up for 585 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
$33.1K $56.64/SF
− Vacancy
−$663 −$1.13/SF
EGI
$32.5K $55.51/SF
− OpEx
−$14.6K −$24.98/SF
NOI
$17.9K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$357,180
Cap Rate 7%
$255,129
Cap Rate 9%
$198,433
Alternative Uses
Best Use
Apartment 5plus
$255.1K
$223.2K – $297.7K
NOI $17,859 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$484.4K
$423.8K – $565.1K
NOI $33,907 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Light-filled condominium residence with high ceilings, modern finishes, and access to elevator-building amenities.
Where is this residential income property located?
The property is located at 954 Bergen Street 5D Brooklyn, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 585 SF one‑bedroom condominium on the fifth floor; 36‑unit elevator building completed in 2015; Open living and dining area with oversized windows and high ceilings
