Multifamily Property for Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11201

Description

Marcus & Millichap presents 121 Henry Street, a five-story brownstone building comprised of 10 residential apartments in the Brooklyn Heights neighborhood of Brooklyn, New York. The property is located between Clark Street and Pierrepont Street less than one block from the 2,3 subway lines. The subject property was built in 1849 and measures approximately 25 feet by 49 feet deep on a lot that extends 92.5 feet deep. The property is zoned R7-1 providing a creative purchaser with the potential to utilize an additional 1,830 square feet of air rights. 121 Henry Street offers new investors the rare chance to acquire a true piece of Brooklyn history, having been built before the American Civil War, and carefully preserved by the same private owner for decades. The property offers eight out of 10 free-market residential apartments, presenting significant rental upside as well as the opportunity for a future condo development or single-family conversion. Investment Highlights: • Premium Location of Brooklyn Heights on Henry Between Clark and Pierrepont • 10 Family Brownstone with Eight Free-Market Units • All Rear Units Offer an Extra Room that can be a Second Bedroom or Office • All Rear Units Offer an Extra Room that can be a Second Bedroom or Office • Built in 1849 | True Piece of Brooklyn History

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 4.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Brooklyn, NY — <a href="/search/sale/multifamily/new-york/brooklyn">view the full market</a>.

As of Q1 2025, the New York City Area multifamily market showed a 4.8% vacancy rate, and rents up 6.3% year over year. Source: CBRE Q1 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the New York City Area multifamily market tightening or softening?
Vacancy is around 4.8%, with asking rents rising year over year (Q1 2025).

Contact

  • John Brennan

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