Three-Unit Brownstone with
98 Prospect Place, Brooklyn, NY 11217
For Sale
New
$3,450,000
The occupied property contains three free-market apartments and a private rear garden.
Property Size4,500 SF
Lot Size0.05 Acres
Price / SF$766.67
Days on Market5
Property Features for 98 Prospect Place
General Information
Standard status
Size
Lot size
Property subtype
Financials
Asking Price
Gross Income
Additional Details
Public Transit
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Compass
Listed By:
Paul J Hyun · License NY #10301209244
(718) 690-0297
Source:
Miradorrealestate
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 3:40PM
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
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Investment Insights
Based on property information with market context.
This 1899 Italianate brownstone is configured as a three-family property with three free-market apartments and a private rear garden. The building sits on a 20-by-100-foot lot and is delivered occupied. It is not landmarked.
The property is on Prospect Place in Brooklyn’s North Park Slope. Nearby destinations include Prospect Park, Barclays Center, the Brooklyn Academy of Music, and the Brooklyn Botanic Garden. Transit connections include the 2 and 3 trains, the B and Q trains, and Atlantic Terminal.
The property is on Prospect Place in Brooklyn’s North Park Slope. Nearby destinations include Prospect Park, Barclays Center, the Brooklyn Academy of Music, and the Brooklyn Botanic Garden. Transit connections include the 2 and 3 trains, the B and Q trains, and Atlantic Terminal.
Key Highlights
- Three free‑market apartments in an Italianate brownstone
- Private rear garden
- 20' x 100' lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,598
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,151,960
$3.2M
Cap Rate 7%
$2,251,400
$2.3M
Cap Rate 9%
$1,751,089
$1.8M
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$229.5K $51.00/SF
− Vacancy
−$4.4K −$0.97/SF
EGI
$225.1K $50.03/SF
− OpEx
−$67.5K −$15.01/SF
NOI
$157.6K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,151,960
Cap Rate 7%
$2,251,400
Cap Rate 9%
$1,751,089
Alternative Uses
Best Use
Multifamily LT 5
$2.25M
$1.97M – $2.63M
NOI $157,598 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,380 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$3.73M
$3.26M – $4.35M
NOI $260,820 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,812
Businesses Nearby
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Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Brooklyn, NY
Properties on Market for Triplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The occupied property contains three free-market apartments and a private rear garden.
Where is this triplex located?
The property is located at 98 Prospect Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Three free‑market apartments in an Italianate brownstone; Private rear garden; 20' x 100' lot
