Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    921 59th St Brooklyn, NY 11219-4828

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    921 59th St Brooklyn, NY 11219-4828

    View on Map
    • Apartment buildings
    • 4,909 SF
    • 0.07 lot acres
    Off-Market
    Last Sale May 10, 2022
    Property ID
    US63-5980816
    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
    $970,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 921 59th St

    Year built
    1920
    Lot size
    0.07 lot acres
    Property size
    4,909 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    05701-0062
    APU
    57010062

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,130,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.006
    Latitude
    40.6345
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $20,365
    $10,350
    $456,300
    $466,650
    -
    $23,000
    $1,014,000
    $1,037,000

    Comparable in this City

    • Value Estimation
      $9,730,000
      64,530 SF

      1515 47th St, Unit 54

      APARTMENT HOUSE (5+ UNITS) • 64,530 SF
      1515 47th St, Brooklyn, NY 11219-2741
      View Details
    • Value Estimation
      $6,840,000
      44,800 SF

      970 42nd St

      APARTMENT HOUSE (5+ UNITS) • 44,800 SF
      970 42nd St, Brooklyn, NY 11219-1170
      View Details
    • Value Estimation
      $5,335,000
      35,320 SF

      961 42nd St

      APARTMENT HOUSE (5+ UNITS) • 35,320 SF
      961 42nd St, Brooklyn, NY 11219-1166
      View Details
    • Value Estimation
      $5,125,000
      33,792 SF

      1016 44th St, Unit 1022

      APARTMENT HOUSE (5+ UNITS) • 33,792 SF
      1016 44th St, Brooklyn, NY 11219-1847
      View Details
    • Value Estimation
      $5,700,000
      37,656 SF

      4716-4720 14th Ave

      APARTMENT HOUSE (5+ UNITS) • 37,656 SF
      4716-4720 14th Ave, Brooklyn, NY 11219
      View Details
    • Value Estimation
      $9,585,000
      77,652 SF

      4112 Ft Hamilton Pkwy

      APARTMENT HOUSE (5+ UNITS) • 77,652 SF
      4112 Ft Hamilton Pkwy, Brooklyn, NY 11219-1288
      View Details

    Similar Nearby for Sale

    • $3,300,000

      Sunset Park Two-Family Brick Property

      Two-family property in Sunset Park with development potential.
      933 56Th St, Brooklyn, NY 11219
      View Details
    • $1,899,000
      4,680 SF

      Brooklyn Five-Family Brick Building

      Three-story, five-family building in Dyker Heights, Brooklyn.
      1456 Bay Ridge Ave, Brooklyn, NY 11219
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Brooklyn Office Spaces Available

      Office spaces for rent in Brooklyn, ranging from 2,064-8,337 SqFt.
      1021-1023 38Th St, Brooklyn, NY 11219
      View Details
    • Contact for pricing
      6,250 SF

      New Office Building For Rent

      Brand new office building with professional tenants and magnificent views.
      1528 60Th St, Brooklyn, NY 11219
      View Details
    • Contact for pricing
      3,124 SF

      Brooklyn Retail Space For Rent

      Retail space available in Brooklyn with 100' wraparound frontage.
      5101 13Th Ave, Brooklyn, NY 11219
      View Details
    • Contact for pricing
      650 SF

      Brooklyn Retail Space Available

      Retail space available for rent in Brooklyn, New York.
      5115 13Th Ave, Brooklyn, NY 11219
      View Details
    • Contact for pricing
      16,255 SF

      Reconstructed Building with Outdoor Terraces

      Reconstructed building featuring high ceilings and multiple outdoor terraces.
      1055 63Rd St, Brooklyn, NY 11219
      View Details
    • Contact for pricing
      1,450 SF

      Spacious Office with Multiple Rooms

      Office space featuring multiple rooms, furniture, and parking available.
      1510 56Th St, Brooklyn, NY 11219
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    921 59th St
    Brooklyn, NY 11219-4828
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!