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for saleRealtyLens property overview
$5,075,000

Withheld St

Brooklyn, NY, 11233
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52Beds
17Baths
16,020Sqft
$317$/sqft

Listing Notes

Exceptional 16-unit multifamily building featuring a balanced mix of 14 free-market and 2 rent-stabilized apartments. The property offers strong current income and significant upside potential through 12 fully renovated, large-format free-market units. Highlights 16 Total Units 14 Free-Market Apartments - large, renovated 3-4 bedroom layouts 2 Rent-Stabilized Apartments - providing steady, long-term cash flow All units have individual heating systems (tenants pay for heat) Air conditioning in every unit Low operating expenses due to tenant-paid utilities High demand for large family-sized apartments in the area Investment Summary This asset offers investors a rare combination of stability and growth. The 14 free-market units were historically deregulated prior to 2019 through legal pathways such as Individual Apartment Improvements and high-rent vacancy decontrol. Under current law, these apartments are permanently free-market, allowing rents to adjust freely with demand. The 2 stabilized units provide a reliable income base, with additional upside through modest rent guideline increases and permitted IAIs. Tenant-paid heat and utilities further reduce landlord expenses, enhancing NOI. Investor Highlights Strong in-place income with majority free-market exposure Upside potential via free-market rent growth Low maintenance costs and minimal owner responsibilities Balanced rent roll combining stability and flexibility Excellent opportunity for a value-focused multifamily investor

Market Insights

Below nearby median-62%

$317/sqft vs a nearby median of $844/sqft.

Nearby median$844/sqft
Nearby properties8
Property size16,020 sqft
  • -62% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 16,020 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$11M$9.82M$12M · 33% confidence
vs ask $5.08M−$5.92M (−116.7%)

Asking price is about 116.7% below the fair value — likely to draw competing offers if it's still on market.

$690/sqft median across 4 tight comps × 16,020 sqft= $11M
  • Days-on-market gravity−$332k −3.0%
  • Pre-war character+$276k +2.5%
Cumulative NYC adjustments−$55k−0.5%

Property Read

FreshnessVerification recommended

The page is useful for research, but the status and price should be verified before acting.

Market Position-62% vs nearby

The asking price per square foot is below the nearby median, which can be worth a closer comp check.

Price MovementInitial price point

Price history is still limited; review again as more market activity becomes available.

Diligence Read3 items to check
AI ReadinessReady to analyze
Assistant read

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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.

Listing Details

Days on market
152 days
Last price change
No change recorded
Listed
Dec 11, 2025
Photos
11 photos
Property type
multi family
Status
for sale

Features & Amenities

Central AirHardwood FloorsTwo Or More StoriesRental Property

Photos

Building Facts

Year built
1910
Stories
4
Total units
25
Residential units
22
Building area
19,591 sqft
Lot size
4,823 sqft
Land use
Mixed residential and commercial buildings
Building class
C7

From NYC public records where available.

Price History

May 4, 2026Initial record
$5,075,000for sale

You can also find this listing on StreetEasy.

Listing data sourced from streeteasy.com. RealtyLens enriches and contextualises it for you, but the original listing lives on the source.