1219 Halsey Street, Brooklyn, NY 11237
Local realty services provided by:CENTURY 21 Awaye Realty
1219 Halsey Street,Brooklyn, NY 11237
$1,089,000
- 16 Beds
- 8 Baths
- 1,717 sq. ft.
- Multi-family
- Active
Listed by: pharo victor inwang
Office: corcoran group
MLS#:RLS20091231
Source:NY_REBNY
Price summary
- Price:$1,089,000
- Price per sq. ft.:$634.13
About this home
<br> <strong>Investment Opportunity 1219 Halsey Street, Bushwick, Brooklyn, NY 11237</strong><br> <strong>8-Unit Multifamily Building Asking $1,089,000<br> </strong><br> Corcoran has been exclusively retained to market and sell 1219 Halsey Street - a fully occupied, income-producing 8-unit multifamily building situated in the heart of Bushwick, Brooklyn. Originally constructed in 1906, this classic four-story masonry walk-up is a study in both enduring character and modern operational efficiency, offering an investor a rare combination of immediate cash flow and meaningful long-term upside.<br> <br> <strong>The Property</strong><br> The building features eight spacious 2-bedroom, 1-bathroom railroad-style apartments, each averaging 861 square feet, with a desirable southeast-facing exposure that fills every unit with natural light throughout the day. The building sits on a 26.42 100 ft lot, is zoned R6, and carries a Tax Class 2B designation.<br> <br> <strong>Capital Improvements</strong><br> Significant capital improvements have been completed, positioning this asset as truly turnkey for its next owner. Upgrades include a full electrical panel modernization with circuit breakers routed to all four floors, updated individual meters, renovated kitchens and bathrooms throughout, and a conversion from oil to gas heating - a meaningful operational improvement that substantially reduces ongoing costs and long-term maintenance exposure.<br> <br> <strong>Income & Financial Performance</strong><br> All eight tenants are current with zero arrears, generating $10,015 per month and $120,180 in gross annual rent. Annual operating expenses break down as follows:<br> <ul> <li>Real estate taxes: $14,205</li> <li>Water: $10,290</li> <li>Insurance: $10,403</li> <li>Gas / heating: $6,800</li> <li>Common area electric: $1,584</li> <li> <strong>Total expenses: $43,282</strong></li> </ul> This yields an estimated Net Operating Income of <strong>$76,898</strong>, a cap rate of approximately <strong>7.06%</strong>, and a Gross Rent Multiplier of <strong>9.06x</strong> - compelling metrics for a stabilized Brooklyn multifamily asset at this price point.<br> Worth noting: the building currently operates on flat-fee water billing, presenting an immediate opportunity for a new owner to transition to metered billing and further reduce operating expenses.<br> <br> <br> <strong>Location</strong><br> Situated steps from the Halsey Street J/Z subway station and Irving Square Park, 1219 Halsey Street benefits from exceptional transit connectivity and immediate access to the vibrant dining, retail, and nightlife corridor along Knickerbocker Avenue. Bushwick continues to be one of Brooklyn's most dynamic and actively appreciating neighborhoods, drawing a growing base of young professionals and long-term residents alike - underpinning both rental demand and asset value for years to come.<br> <br> <strong>The Opportunity</strong><br> With zero arrears, a stabilized tenancy, a modernized physical plant, and strong in-place cash flow, 1219 Halsey Street represents an ideal acquisition for an investor seeking a low-maintenance, income-producing asset in one of Brooklyn's most compelling submarkets. Properties of this quality, at this cap rate, at this price point, do not last.<br> <br>...
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Home facts
- Year built:1906
- Listing ID #:RLS20091231
- Added:75 day(s) ago
- Updated:July 29, 2026 at 11:38 AM
Rooms and interior
- Bedrooms:16
- Total bathrooms:8
- Full bathrooms:8
- Rooms Total:32
- Basement:Yes
- Living area:1,717 sq. ft.
Heating and cooling
- Cooling:Window Units
Structure and exterior
- Year built:1906
- Building area:1,717 sq. ft.
Finances and disclosures
- Price:$1,089,000
- Price per sq. ft.:$634.13
- Tax amount:$14,208
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2026 The Real Estate Board of New York, Inc., All rights reserved. RLS Data display by Coldwell Banker Warburg This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. NY_REBNY Member Broker: Arlene WayeNew listings near 1219 Halsey Street
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