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 87 Joralemon Street, a fivestory brownstone building comprised of 10 residential apartments in the Brooklyn Heights neighborhood of Brooklyn, New York. The property is located between Garden Place and Hicks, and is a few blocks from the Borough Hall 2, 3, 4 & 5 train lines. The subject property was built in 1910 and measures approximately 20 feet by 48 feet deep on a lot that extends 100.67 feet deep. Including an approximately 63 square foot extension on both the first and second floors, the property measures a gross building size of approximately 4,926 square feet. Zoning is R6 and the property is in Tax Class 2B. 87 Joralemon offers the rare chance to acquire a five-story brownstone apartment building located on one of the most desirable blocks of Brooklyn Heights. The property offers cash-flow, with the potential for single-family, or condo, redevelopment in the future. Investment Highlights: • Supreme Location of Brooklyn Heights on Joralemon Street between Garden Place and Hicks Street • 10 Family Brownstone with Nine Free-Market Units • Three Vacant Apartments Offer Significant Rental Upside • Short Distance to the Brooklyn Promenade

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 4.8% 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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