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102 Pierrepont Street 102 Pierrepont St 6 Unit Apartment Building $4,975,000 ($829,167/Unit) 4.80% Cap Rate Brooklyn, NY 11201
EXECUTIVE SUMMARY
102 Pierrepont Street offers a prime opportunity for investors and users in the heart of Brooklyn Heights, one of New York City’s most prestigious and supply-constrained
neighborhoods. The six-unit, 83% free-market brownstone spans 7,530 SF with a desirable mix of large one- and three-bedroom layouts, including a vacant garden duplex with private outdoor space—ideal for repositioning or owner-occupancy.
Investment Highlights
• Building Size: 7,530 SF
• Units: 6 (5 leased, 1 vacant)
• Tenancy: 83% Free Market
• Expense Ratio: ~33%
• Protected Tax Class: 2A
• Pro Forma Cap Rate: 6.8%
• Price per SF: $661
Value-Add Potential
The property offers immediate upside through targeted renovations and rent repositioning. With one key vacancy in the garden duplex and several under-market leases, ownership can capture meaningful near-term gains by modernizing select interiors and aligning rents with current neighborhood benchmarks. The property’s low expense ratio and 2A protected tax class provide a solid operating foundation, ensuring that incremental improvements translate directly into enhanced cash flow and long-term asset value.
Live + Income Opportunity
The vacant garden duplex presents an attractive option for an end-user buyer seeking a live-plus-income property—residing in the expansive duplex while collecting stable rental income from five apartments above. Nestled on one of Brooklyn Heights’ most picturesque tree-lined blocks, the property is surrounded by landmark brownstones, charming cafés, and boutique shops along Montague Street. The Promenade, Brooklyn Bridge Park, and multiple subway lines are just moments away, offering a rare blend of tranquility and accessibility. This combination of historic charm, lifestyle convenience, and steady rental performance makes 102 Pierrepont Street an ideal choice for those looking to live in one of New York City’s most coveted neighborhoods while benefiting from reliable investment income.
neighborhoods. The six-unit, 83% free-market brownstone spans 7,530 SF with a desirable mix of large one- and three-bedroom layouts, including a vacant garden duplex with private outdoor space—ideal for repositioning or owner-occupancy.
Investment Highlights
• Building Size: 7,530 SF
• Units: 6 (5 leased, 1 vacant)
• Tenancy: 83% Free Market
• Expense Ratio: ~33%
• Protected Tax Class: 2A
• Pro Forma Cap Rate: 6.8%
• Price per SF: $661
Value-Add Potential
The property offers immediate upside through targeted renovations and rent repositioning. With one key vacancy in the garden duplex and several under-market leases, ownership can capture meaningful near-term gains by modernizing select interiors and aligning rents with current neighborhood benchmarks. The property’s low expense ratio and 2A protected tax class provide a solid operating foundation, ensuring that incremental improvements translate directly into enhanced cash flow and long-term asset value.
Live + Income Opportunity
The vacant garden duplex presents an attractive option for an end-user buyer seeking a live-plus-income property—residing in the expansive duplex while collecting stable rental income from five apartments above. Nestled on one of Brooklyn Heights’ most picturesque tree-lined blocks, the property is surrounded by landmark brownstones, charming cafés, and boutique shops along Montague Street. The Promenade, Brooklyn Bridge Park, and multiple subway lines are just moments away, offering a rare blend of tranquility and accessibility. This combination of historic charm, lifestyle convenience, and steady rental performance makes 102 Pierrepont Street an ideal choice for those looking to live in one of New York City’s most coveted neighborhoods while benefiting from reliable investment income.
FINANCIAL SUMMARY (ACTUAL - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$296,856
|
$39.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$296,856
|
$39.42
|
| Taxes |
$55,890
|
$7.42
|
| Operating Expenses |
$12,450
|
$1.65
|
| Total Expenses |
$68,340
|
$9.08
|
| Net Operating Income |
$228,516
|
$30.35
|
FINANCIAL SUMMARY (ACTUAL - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $296,856 |
| Annual Per SF | $39.42 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $296,856 |
| Annual Per SF | $39.42 |
| Taxes | |
|---|---|
| Annual | $55,890 |
| Annual Per SF | $7.42 |
| Operating Expenses | |
|---|---|
| Annual | $12,450 |
| Annual Per SF | $1.65 |
| Total Expenses | |
|---|---|
| Annual | $68,340 |
| Annual Per SF | $9.08 |
| Net Operating Income | |
|---|---|
| Annual | $228,516 |
| Annual Per SF | $30.35 |
PROPERTY FACTS
| Price | $4,975,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $829,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 4.80% | Building Size | 7,530 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 17% |
| Gross Rent Multiplier | 13.6 | No. Stories | 6 |
| No. Units | 6 | Year Built | 1860 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R7-1 - R7 - Medium-density apartment house district with lower parking requirements | ||
| Price | $4,975,000 |
| Price Per Unit | $829,167 |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.6 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 7,530 SF |
| Average Occupancy | 17% |
| No. Stories | 6 |
| Year Built | 1860 |
| Opportunity Zone |
Yes |
| Zoning | R7-1 - R7 - Medium-density apartment house district with lower parking requirements |
AMENITIES
UNIT AMENITIES
- Fireplace
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Yard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 3 | - | - |
| 3+2 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 00243-0034 | Total Assessment | $1,599,300 (2025) |
| Land Assessment | $22,950 (2025) | Annual Taxes | $55,890 ($7.42/SF) |
| Improvements Assessment | $1,576,350 (2025) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
00243-0034
Land Assessment
$22,950 (2025)
Improvements Assessment
$1,576,350 (2025)
Total Assessment
$1,599,300 (2025)
Annual Taxes
$55,890 ($7.42/SF)
Tax Year
2022
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102 Pierrepont Street | 102 Pierrepont St
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