| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 95th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 117 Kent Ave, Brooklyn, NY, 11249, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 63 |
| Transaction Date | 2012-05-09 |
| Transaction Price | $56,000,000 |
| Buyer | 111 KENT LLC |
| Seller | SVF KENT BROOKLYN CORPORATION |
117 Kent Ave Brooklyn Multifamily Investment
Newer mid-rise in Brooklyn s urban core with deep renter demand supported by high-amenity surroundings and strong household incomes, according to WDSuite s CRE market data. Primary investor angle: durable leasing from a large renter base and competitive positioning versus older local stock.
The immediate area scores as an A+ Urban Core location and is competitive among New York Jersey City White Plains neighborhoods (ranked 2 out of 889), with national top-quartile standing across multiple amenity categories. Dense coverage of restaurants, groceries, pharmacies, parks, and cafes (all at or near the 100th national percentile) supports walkable daily needs and reduces reliance on long commutes a positive for tenant retention.
For multifamily fundamentals, neighborhood occupancy trends sit around national norms, while NOI per unit ranks among the strongest nationally. Median home values in the neighborhood are elevated relative to national benchmarks, which tends to sustain renter reliance on multifamily housing and can support pricing power when managed carefully. The neighborhood s median rent level is also high versus the U.S., yet rent-to-income benchmarks indicate room for disciplined lease management rather than acute affordability pressure.
Tenure patterns indicate a high share of renter-occupied units at the neighborhood level, signaling depth in the tenant base. Within a 3-mile radius, WDSuite s data shows population growth in recent years and projections for continued expansion through 2028, alongside a rise in household counts and smaller average household sizes. For investors, that points to a larger renter pool and ongoing demand for professionally managed apartments.
Vintage context matters: the submarket s average construction year skews older, while this asset s 2008 delivery provides relative competitiveness versus pre-1980 stock. That positioning supports leasing and potential rent premiums, while standard mid-life capital planning (systems, finishes, common areas) should be evaluated for modernization and value-add.
Neighborhood safety metrics trail national averages, with both property and violent offense rates positioned in lower national percentiles. Recent trends, however, show year-over-year declines in estimated violent and property offenses, indicating improvement momentum. Investors should underwrite to current conditions while acknowledging the direction of change and the stabilizing effect that high neighborhood amenity density can have over time.
Nearby corporate offices in Lower Manhattan and Midtown expand the professional renter base and support commute convenience. Key employment anchors include Consolidated Edison, Yahoo, New York Life, Netflix, and additional Con Edison engineering operations.
- Con Edison Distribution Engineering corporate offices (1.7 miles)
- Consolidated Edison corporate offices (1.7 miles) HQ
- Yahoo corporate offices (1.7 miles)
- New York Life Insurance Company corporate offices (1.8 miles)
- Netflix corporate offices (1.9 miles)
117 Kent Ave is a 63-unit 2008-vintage asset positioned in an A+ Urban Core neighborhood where amenity access and income levels support durable renter demand. Neighborhood occupancy runs near national norms, but a high share of renter-occupied housing and elevated ownership costs bolster the tenant base and leasing stability. According to CRE market data from WDSuite, local NOI per unit ranks among the strongest nationally, reinforcing the area s revenue potential for well-managed assets.
Relative to the area s older building stock, the property s 2008 delivery enhances competitive positioning while leaving room for targeted mid-life upgrades to drive rent and retention. Within a 3-mile radius, population and household growth alongside smaller average household sizes points to ongoing renter pool expansion that can support occupancy and measured rent growth over the medium term. Key risks include safety metrics that lag national norms and cyclical sensitivity tied to concentrations of office-using employment.
- A+ Urban Core location with national top-tier amenities supporting tenant retention
- 2008 vintage offers competitive positioning versus older local stock with value-add upgrade potential
- High renter-occupied share and elevated ownership costs sustain multifamily demand
- 3-mile radius shows population and household growth, supporting occupancy stability
- Risks: safety metrics below national averages; exposure to office-using employment cycles