279 Henry St · New York, NY 11201

$5,000,000

100 bd · 120.0 ba · 6,594 sqft · MultiFamily public records · 24 Days on market

Built 1900 2,312 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.4/30.0
• DSCR +8.4/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

A rare opportunity to acquire a pre-war, 5-story, 10-unit building on one of Brooklyn Heights' most sought-after blocks. Totaling approximately 6,594 square feet, the building is comprised of 8 one-bedroom and 2 two-bedroom units, with 9 free market and 1 rent stabilized. There is 1 unit currently vacant and ready for immediate use or renovation. The building lends itself to multiple purchasing strategies: a value-add to capitalize on the strong rental demand, a condo conversion, or a townhouse conversion. Contact for financials, rent roll, showing schedule, and more details.

Key facts

• 2,312 sq ft lot
• Built 1900
• Listed 23 days

Property features AI

Finance

• Other: Multi-unit property with 10 total units
• HOA & community: Pets allowed in building (policies vary)

Exterior

• Utilities: Cooling present
• Home design: 4-story building; Entry at street level
• Construction: Green building
• Exterior features: Has a view; Lot dimensions approximately 92.5 x 25.0

Interior

• Bedrooms: Total rooms: 12
• Bathrooms: 12 full bathrooms
• Heating & cooling: Cooling available
• Interior features: Smoke-free building; Decorative fireplace (1)
• Laundry & utility: Building laundry facilities

What this means for you Summary

Snapshot

• This is a 10 × 10-bed/12.0-bath units multifamily listed at $5.00M.

Deal economics

• At list price, monthly cash flow is $11k ($137k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($57k rent vs $5.00M).
• Recommended offer: $4.92M (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Market conditions: Rents rising fast (+5.4%/yr); 393 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $57,373/mo this rent would consume 398% of the median local household income ($173k/yr) (locally 4080% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $333k of equity ($35k loan paydown + $298k appreciation (6.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.0% appreciation + 5.4% rent growth), your $1.40M cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$533k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($4.92M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $2.75M; list at $5.00M implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $4,925,000 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.81%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.97% appreciation · 5.39% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.65×
• Total profit: $2,303,869
• Equity at exit: $3,132,344

10-year hold

• IRR: 24.3%
• Equity multiple: 5.66×
• Total profit: $6,525,800
• Equity at exit: $5,670,999

Cash invested: $1,400,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 11201

• Home prices YoY: 1.9%
• Rents YoY: 5.4%
• Active inventory: 393
• Price-to-rent: 72.6×

Monthly cashflow live

• Estimated rent: $57,373 medium
• Mortgage (P&I): −$26,221
• Tax from tax record: −$5,579 /mo · $66,943/yr
• Insurance: −$2,083
• HOA: −$0
• Vacancy / Maint / Mgmt: −$12,048
• Net cashflow: $11,442

Break-even live

Break-even rent $42,889

Max offer price $5,000,000

Occupancy floor 75%

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	10	12	$57,370
Total (10 units)			$57,373

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,250,000
• Closing costs: $150,000
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $5,000,000 Active 24 DOM
2. 2026-06-17
   days on market $5,000,000 Active 23 DOM
3. 2026-06-16
   days on market $5,000,000 Active 22 DOM
4. 2026-06-15
   days on market $5,000,000 Active 21 DOM
5. 2026-06-13
   days on market $5,000,000 Active 19 DOM
6. 2026-06-10
   days on market $5,000,000 Active 15 DOM
7. 2026-06-08
   days on market $5,000,000 Active 14 DOM
8. 2026-06-08
   days on market $5,000,000 Active 13 DOM
9. 2026-06-04
   days on market $5,000,000 Active 10 DOM
10. 2026-06-03
    days on market $5,000,000 Active 9 DOM
11. 2026-06-02
    days on market $5,000,000 Active 8 DOM
12. 2026-06-01
    days on market $5,000,000 Active 7 DOM
13. 2026-05-31
    days on market $5,000,000 Active 6 DOM
14. 2026-05-26
    listed $5,000,000 Active
15. 2009-01-26
    soldstatus $2,750,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $66,943 · $5,579/mo
• Projected year-2 tax: $75,722 · $6,310/mo
• Expected delta: +$8,778/yr (+$732/mo · 13.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $688,476
• − Mortgage interest: −$280,078
• − Property taxes: −$66,943
• − Insurance: −$25,000
• − Repairs & maintenance: −$55,078
• − Management: −$55,078
• − Depreciation: −$145,455
• Taxable income: $60,844
• Est. tax owed @ 24.0%: −$14,603
• After-tax cash flow: $122,703/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Kings County · 2,614,986 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 70,674
• Household income: $173,136
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 4080.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 2,847,441 people
• By 2030: 2,937,006 · +3.1%
• By 2040: 3,095,491 · +8.7%
• By 2050: 3,228,968 · +13.4%
• By 2075: 3,321,723 · +16.7%
• By 2100: 3,111,387 · +9.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Asian 14% Black 12% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 7% Chinese 6% Other Indo-European 3%

Political lean MEDSL · Kings

• 2024 margin: Solid D (+44.0) · D 72.0% · R 28.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 59.4pp · 2024: 44.0pp
• All cycles: 2024: D+44.0 2020: D+54.8 2016: D+61.8 2012: D+63.9 2008: D+59.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.97%
• Current HPI: 321.3623
• Rent YoY: ▲ 5.39%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+81.8% since first listed

2 events — show timeline

• 2026-05-26 Listed $5,000,000 RLS at REBNY
• 2009-01-26 Sold (Public Records) $2,750,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $66,943 · +2.3% YoY. Source: county tax records.