For sale
$60,000,000
Multifamily property
65,535 SF building2.07 acres lot
$916/SF (asking price ÷ building area)
- Elevator
- Parking reported
505 Rockaway PkwyBrooklyn, NY 11212
Listing courtesy of 5 BORO REALTY CORP · MyStateMLS #12036511
For saleVirtual tour
$60,000,000
65,535 SF building2.07 acre lotBuilt 1948
7 Hegeman AveBrooklyn, NY 11212
Multifamily property · MLS 12033843 · Listed 16 days ago (Oct 19, 2026)
Active: Listed and available according to the MyStateMLS feed.
About this property
Exclusive offering. The Brookdale Portfolio of Brooklyn: four rent-stabilized buildings in Canarsie, Brooklyn offered together at $60,000,000. 381 apartments, 360,918 gross SF, ground-floor retail and 104 on-site parking spaces. The four addresses: 7 Hegeman Avenue, Brooklyn NY 11212 (172 units, 20-story elevator tower, 49-space cellar garage) 660 East 98th Street, Brooklyn NY 11236 (113 units, 12-story elevator building, 55-space surface lot) 505 Rockaway Parkway, Brooklyn NY 11212 (54 units over two leased storefronts, elevator) 525 Rockaway Parkway, Brooklyn NY 11212 (42 units plus one commercial unit, walk-up) Ownership-reported NOI of $3,835,489, an indicated 6.39% cap rate at the asking price, with reported occupancy of approximately 98%. That works out to $157,480 per unit and $166 per gross SF. Unit mix: 88 studios, 213 one-bedrooms, 78 two-bedrooms and 2 three-bedrooms. All four properties sit within roughly three-tenths of a mile of Brookdale University Hospital Medical Center. 505 and 525 Rockaway Parkway are on the hospital's tax block, 660 East 98th Street faces the campus across Linden Boulevard, and 7 Hegeman Avenue is about two blocks northeast. Additional income from parking, laundry, submetered electric, rooftop antenna leases and carrier agreements. Facade work at both towers and elevator work at 660 East 98th Street reported complete. 552 Amboy Street, a separately taxed land parcel (Block 3621 Lot 49), conveys with 7 Hegeman Avenue as the development piece and comes with a completed zoning study. Package sale only. Full financials released to qualified principals on a signed NDA.
Description provided by the listing brokerage.
Key facts
- Asking price
- $60,000,000
- Status
- For sale
- Property type
- MultifamilyFrom the MLS property class
- Building area
- 65,535 SFSource field LivingArea
- Land area
- 2.07 acresSource field LotSizeAcres
- Year built
- 1948
- MLS number
- 12033843
Facts are reported by the listing brokerage. Items not listed were not provided; that does not mean the property lacks them or that they are zero.
Price
- Asking price
- $60,000,000
- Price per SF of building
- $916/SFAsking price ÷ 65,535 SF reported building area
- Annual taxes
- $1,545,550
Building and site
- Building name
- The Brookdale Portfolio
- Units
- 381From the listing description
- Stories
- 20
- Reported zoning
- Multi-FamilyAs reported by the listing. Confirm permitted uses for your plans with the local zoning authority.
- County
- Kings County
Investment figures reported in the description
- Cap rate
- 6.39% (actual or pro forma not stated)"…i of $3,835,489, an indicated 6.39% cap rate at the asking price, wit…"
- Net operating income
- $3,835,489 (actual or pro forma not stated)"…, walk-up) ownership-reported noi of $3,835,489, an indicated 6.39% cap rate…"
These figures are as written by the listing agent, without a stated period or supporting statements. Commercial Only does not calculate or verify them. Ask for rent rolls, operating statements and leases before relying on any figure.
Reported features
- Elevator (from the description)“…ny 11212 (172 units, 20-story elevator tower, 49-space cellar garage…”
- Parking reported (from the description)“…, ground-floor retail and 104 on-site parking spaces. the four addresses: 7…”
A mention is not a specification. Confirm power, clear height, doors, parking and code compliance for your use with the listing representative and your own advisers.
Virtual tours and video
Location
The pin is the listing's reported coordinates and may be approximate. It is not a parcel boundary or survey and says nothing about access rights, easements or flood zones. See more listings in Brooklyn or multifamily property in Brooklyn.
Why this listing is on Commercial Only
- Multi-unit income property class. (PropertyTypeDetail: multi-5-plus)
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Price and status history
Changes observed by Commercial Only in MyStateMLS data since Nov 3, 2026. This is not a public-record sales or lease history.
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Guides
Listing courtesy of 5 BORO REALTY CORP. Listing agent: NINA SABAG. Listings provided by MyStateMLS.
Listing last modified at the source Oct 21, 2026, 8:08 PM UTC. Commercial Only last confirmed MyStateMLS data Nov 4, 2026, 2:31 AM UTC. Information is deemed reliable but not guaranteed; verify all details with the listing representative.