Gross Rent Multiple

Anybody know the approximate GRM for a multi-family brownstone in northeast Park Slope (near PPW)?

starfish11040

in Roofers 10 years and 9 months ago

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landlord | 10 years and 9 months ago

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I remember in the 80’s my dad would tell me that residential buildings sell for around 10x rent roll and triple net lease commercial properties sell for around 15-18x rent roll. Those were the days 🙂

resident2 | 10 years and 9 months ago

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If you are asking to get a sale price; in this market in such prime areas those numbers have all gone out of the window; for prime locations. If there are senior citizens and rent controlled tenants it will lower the price somewhat; but not much. Lots of ECB &/or serious Building Violations will hold the price down somewhat…. Low income rent stabilized tenants do not hold back the big investors that already have property in the area; that just gives them more room for MCI increases etc to move tenants out and rents up etc. But the bottom line is there will always be someone; either an owner occupant or an investor that will be willing to carry huge losses for a few years, either to off set other cash flow or looking at it as buying futures. That is why the term Location, Location, Location is the optimum sales valuer.