159 87th Street
About This Property
Upon entering, a welcoming foyer leads into a bright south-facing sunroom, an inviting space for morning coffee, reading, or simply enjoying the natural light. The formal dining room flows into the spacious living room, creating an easy setting for both everyday living and entertaining. A portable gas fireplace adds warmth during the colder months and can be removed to create additional living space.
The windowed galley kitchen sits adjacent to a flexible office area, offering the opportunity to combine the spaces and create a larger eat-in kitchen with direct access to the covered deck and backyard. The outdoor space provides room for grilling, gardening, dining, and entertaining. A conveniently located powder room completes the main level.
The second floor features three generously sized bedrooms, each with natural light and ample room for a variety of furnishings. A large windowed bathroom with a double vanity completes this level.
The fully finished lower level substantially expands the usable space of the home and is currently configured with two windowed bonus rooms, a recreation area, a bathroom with shower, a laundry room, ample storage, and a dedicated fitness space. Its flexible layout provides options for guests, a home office, recreation, fitness, hobbies, or additional living space.
Throughout the home, high ceilings, stained glass windows, and original architectural details add warmth and character. Recent updates, including new hardwood floors and ductless mini-split systems, bring modern comfort while preserving the home's classic appeal.
Outside, the property offers a covered deck, backyard, side yard, front porch, and yard, along with a detached garage and wide shared driveway, providing a combination of indoor and outdoor space that is increasingly difficult to find in Brooklyn.
Situated on a picturesque tree-lined residential block in the heart of Bay Ridge, the home is convenient to Shore Road and the waterfront, neighborhood parks, shopping, restaurants, and everyday amenities along Third and Fifth Avenues. The R train at 86th Street and Fourth Avenue, express buses, and additional transportation options provide convenient connections throughout Brooklyn and into Manhattan.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 10, 2026 | Listed by Compass | $1,995,000 | |
| Listed by Compass | |||
| Jun 11, 2013 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017