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Property profile & analytics
FOR SALE
Apartment buildings
662 Madison St, Brooklyn, NY 11221
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US63-1808585
For Sale
1 / 10
$3,850,000
662 Madison St, Brooklyn, NY 11221
View Listing →
Property summary
AI-generated overview
Exceptional investment opportunity in Brooklyn's Stuyvesant Heights. This 4-story, 10,160 sq ft brick building boasts eight renovated 4-5 bedroom units, each filled with natural light. Currently operating at 100% occupancy, generating a strong NOI of $342,000 and an 8.88% cap rate. Built in 1931, the property sits on a 3,117 sq ft lot and is zoned R6B. Conveniently located near the J, Z, A, and C train lines, offering easy access to Manhattan. The asking price is $3,850,000, translating to $378.94 per square foot and $481,250 per unit. This stabilized multifamily investment presents a compelling opportunity for significant returns. The building's classic charm has been thoughtfully preserved during renovations, creating a desirable living environment for tenants. This property offers a blend of historical character and modern updates, making it an attractive investment in a thriving Brooklyn neighborhood.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1931
Total area
10,160 SF
Lot
0.07 ac (3,117 SF)
Zoning code
R6B
APN
01646-0018
UPID
US63-1808585
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Outpost Club | Stuyvesant Heights Coliving Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.72M
Blend (final)
Blend
$2.04M
Owner & transaction history
662 Madison Ice LLC · 8 yrs held
662 Madison Ice LLC
since 2018
7 recorded transactions
Zoning & alternative use
R6B · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,645,000
Current use
Blend value · Realmo final
$2.04M
Range $1.84M – $2.24M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$201 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$23,994
Tax year 2024
Assessed value
$934,200
Assessed 2024
Previous assessed
$778,500
+20.0% YoY
Effective rate
2.57%
On assessed value
Assessed land
$133,200
Assessed improvement
$801,000
Land market value
$296,000
Improvement market value
$1,780,000
Total market value
$2,076,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1931
Heating
NONE
Buildings
1
Stories
4
Units
8
Total area
10,160 SF
Lot
0.07 ac (3,117 SF)
Zoning code
R6B
APN
01646-0018
UPID
US63-1808585
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Brooklyn, NY
Zoning R6B · permitted uses
R6B · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1931
Heating
NONE
Stories
4
Buildings
1
Units
8
Lot
0.07 ac
Current owner
From public records · entity-resolved
662 Madison Ice LLC
Entity
Mailing address
31 W 34TH ST, NEW YORK, NY 10001-3009
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2018
$4,310,000
662 Madison Ice LLC
662 Madison Group LLC
Grant Deed
$791,514 · Cason Hm Lns
Mar 29, 2018
—
662 Madison Ice LLC
—
Deed
related
$3,460,000 · Cascade Land Hm Financing
Dec 5, 2013
$1,600,000
662 Madison Group LLC
Alexander Callender
Deed
—
Nov 14, 2011
—
Eva L Phillips
Phillips,eva L
Quit Claim Deed
—
Feb 10, 2006
—
Eva L Phillips
Callender,alexander II
Grant Deed
related
$84,949 · Greenpoint Mortgage Funding
May 20, 2004
—
Carmella Lewis
Phillips,eva L
Grant Deed
related
—
—
—
662 Madison Group LLC
—
Loan Modification, Consolidation And Extension
related
$2,850,000 · Signature Bk
—
—
Eva L Phillips
—
Deed Of Trust
related
$200,000 · Greenpoint Mortgage Funding
—
—
662 Madison Ice LLC
—
Loan Modification
related
$3,460,000 · Cascade Land Hm Financing
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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