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    264 60Th St Brooklyn, NY 11220
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    264 60Th St Brooklyn, NY 11220

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    • Residential land & home lots
    Off-Market
    Property ID
    US63-4022833
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 264 60Th St

    Property type
    Residential land & home lots

    Description

    The land for sale (2 Lots) is located in the Sunset Park, Lot size for 264 60 St is 20X112, 266 60th St is 20X100, Zoning R6B. The land is zoned for residential use, making it a great opportunity for developers or individuals looking to build their dream homes in a highly desirable area. The property is conveniently located near public transportation, with several bus routes and the N and R subway lines within a short distance. In addition, the property is located near several amenities, including grocery stores, restaurants, and parks. Sunset Park, one of Brooklyn's largest parks, is just a short distance away and offers stunning views of the Manhattan skyline.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.021475
    Latitude
    40.642352

    Comparable in this City

    • $2,350,000
      0.05 Acres

      Brooklyn Development Opportunity

      Prime lot in Eighth Avenue Business District for development.
      847 58Th St, Brooklyn, NY 11220
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    • New
      $2,380,000
      0.05 Acres

      Brooklyn Development Opportunity in Sunset Park

      R6-zoned lot with strong development potential in a growing neighborhood.
      817 55Th St, Brooklyn, NY 11220
      View Details
    • $1,100,000
      0.09 Acres

      Brooklyn Land: Build Your Dream

      4,000 sq ft lot approved for two-family home.
      6647 Sedgwick Pl, Brooklyn, NY 11220
      View Details
    • $1,100,000
      0.09 Acres

      Residential Land in Bay Ridge

      Vacant land approved for a two-family home in Brooklyn.
      6647 Sedgwick Pl, Brooklyn, NY 11220
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    • $1,100,000
      0.09 Acres

      Brooklyn Residential Land with Views

      Residential land in Brooklyn with potential Manhattan skyline views.
      6643 Sedgwick Pl, Brooklyn, NY 11220
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    • $1,800,000
      0.05 Acres

      Brooklyn Land For Sale

      Land for sale near 8th Ave, Brooklyn, NY.
      716 57Th St, Brooklyn, NY 11220
      View Details

    Similar Nearby for Sale

    • $1,100,000
      0.09 Acres

      Brooklyn Land: Build Your Dream

      4,000 sq ft lot approved for two-family home.
      6647 Sedgwick Pl, Brooklyn, NY 11220
      View Details
    • $1,100,000
      0.09 Acres

      Residential Land in Bay Ridge

      Vacant land approved for a two-family home in Brooklyn.
      6647 Sedgwick Pl, Brooklyn, NY 11220
      View Details
    • $1,100,000
      0.09 Acres

      Brooklyn Residential Land with Views

      Residential land in Brooklyn with potential Manhattan skyline views.
      6643 Sedgwick Pl, Brooklyn, NY 11220
      View Details
    • $1,800,000
      0.05 Acres

      Brooklyn Land For Sale

      Land for sale near 8th Ave, Brooklyn, NY.
      716 57Th St, Brooklyn, NY 11220
      View Details
    • New
      $2,380,000
      0.05 Acres

      Brooklyn Development Opportunity in Sunset Park

      R6-zoned lot with strong development potential in a growing neighborhood.
      817 55Th St, Brooklyn, NY 11220
      View Details
    • $2,350,000
      0.05 Acres

      Brooklyn Development Opportunity

      Prime lot in Eighth Avenue Business District for development.
      847 58Th St, Brooklyn, NY 11220
      View Details

    Similar Nearby for Lease

    • $76 SF/Yr
      500 SF

      Prime Brooklyn Office Space

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      6402 8Th Ave, Brooklyn, NY 11220
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    • $103 SF/Yr
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      Sunset Park Office Space For Rent

      Prime location, renovated, all-inclusive.
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      Sunset Park Loft/Office/Creative Space

      Flexible loft space in Sunset Park with freight access.
      5700 1St Ave, Brooklyn, NY 11220
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      Renovated Office Space For Rent

      Renovated office space with high ceilings and easy transit access.
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      Sunset Park Second Floor Office

      Spacious office in Sunset Park, suitable for various uses.
      766 55Th St, Brooklyn, NY 11220
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    264 60Th St
    Brooklyn, NY 11220
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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