| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 64th | Good |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1073 E 73rd St, Brooklyn, NY, 11234, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1073 E 73rd St Brooklyn 24-Unit Multifamily
2003-vintage, mid-sized asset in an A-rated Brooklyn neighborhood with strong amenity access and a deep renter base, according to WDSuite's CRE market data. Newer construction versus local stock and a high-cost ownership market underpin durable demand dynamics.
Neighborhood fundamentals are competitive among New York–Jersey City–White Plains metro neighborhoods, ranking in the top quartile among 889 areas, per WDSuite. Restaurant, cafe, pharmacy, and park access index high nationally (restaurants ~97th percentile; cafes and pharmacies ~95th; parks ~86th), supporting livability and day-to-day convenience that typically benefit leasing and retention.
The property was built in 2003 while the neighborhood’s average construction year is 1974. This newer vintage can offer a competitive edge versus older local inventory; investors should still plan for mid-life systems updates and targeted renovations to sustain positioning.
Within a 3-mile radius, households increased over the last five years and are projected to rise further even as average household size trends lower. That combination generally expands the renter pool and can support occupancy stability and leasing velocity for market-rate assets. Household incomes have grown materially, broadening depth for quality product.
Ownership remains a high-cost proposition nearby (home values rank near the top nationally), which tends to reinforce reliance on multifamily rentals and can aid lease retention for well-managed properties. Neighborhood median contract rents trend on the higher side for the metro, while rent-to-income metrics suggest room for disciplined pricing strategy. These dynamics, together with strong daily-needs access (grocery ~85th percentile), indicate durable renter demand as noted in WDSuite's multifamily property research.
One consideration: neighborhood housing occupancy has softened in recent years. While this is a neighborhood-level signal—not property-specific—it argues for proactive leasing, renewals, and unit turns to protect NOI through cycles.
Safety indicators are mixed. Within the New York metro, the neighborhood ranks above the median (162 of 889), indicating comparatively better standing locally. Nationally, overall safety sits below the midpoint; however, recent WDSuite trend data show year-over-year declines in both violent and property offense rates, pointing to improving conditions. Conservative underwriting with attention to security measures and tenant experience is prudent.
A diversified set of nearby corporate offices supports commuter convenience and renter demand for professional and workforce households. The employers below reflect the most relevant options within typical Brooklyn commuting range.
- Prudential — corporate offices (4.4 miles)
- Dr Pepper Snapple Group — beverages corporate offices (6.4 miles)
- AIG — insurance (7.1 miles) — HQ
- Guardian Life Insurance Company of America — insurance (7.1 miles) — HQ
- S&P Global — financial information services (7.1 miles) — HQ
This 24-unit, 2003-built asset competes favorably against an older local base, supported by high national amenity access and a renter pool reinforced by a high-cost ownership market. Based on CRE market data from WDSuite, the neighborhood sits in the metro’s top quartile, while within a 3-mile radius household growth and rising incomes support rent collections and leasing stability.
Forward-looking, projected increases in households and smaller average household sizes point to a larger tenant base. Investors should account for neighborhood-level occupancy softness with proactive leasing and asset management, while leveraging the property’s newer vintage for selective value-add upgrades that can enhance rent positioning versus older comparables.
- 2003 vintage offers competitive positioning versus older neighborhood stock with manageable mid-life capex
- High national amenity access and daily-needs proximity support leasing and retention
- High-cost ownership landscape sustains multifamily demand and can aid rent durability
- 3-mile household growth and rising incomes expand the tenant base and support collections
- Risk: neighborhood-level occupancy softness and mixed safety trends warrant conservative underwriting and active management