| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 44th | Poor |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1236 Ocean Pkwy, Brooklyn, NY, 11230, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2012 |
| Units | 41 |
| Transaction Date | 2004-09-07 |
| Transaction Price | $1,756,481 |
| Buyer | 1244 OCEAN PARKWAY ASSOCIATES LLC |
| Seller | DWECK IRVING M |
1236 Ocean Pkwy, Brooklyn NY Multifamily Investment
Newer construction relative to the surrounding housing stock and a deep renter base support durable demand, according to WDSuite’s commercial real estate analysis. In a high-cost ownership pocket of Brooklyn, the property’s positioning favors occupancy resilience and lease stability.
This Urban Core neighborhood rates B+ and is competitive among New York–Jersey City–White Plains metro neighborhoods (ranked 236 of 889), per CRE market data from WDSuite. The immediate area offers a dense amenity base — groceries, pharmacies, parks, and restaurants all score in the mid-90s to high-90s national percentiles — which supports renter livability and day-to-day convenience.
The property’s 2012 vintage stands out against a neighborhood housing stock that skews older (average construction year is 1943). Newer systems and layouts can enhance competitive positioning versus legacy assets, while investors should still plan for routine mid-life upgrades over the hold.
Renter demand is broad-based: the neighborhood shows a renter concentration around the mid-50% range of housing units being renter-occupied, and within a 3-mile radius renters account for roughly two-thirds of occupied units. This depth of renter households underpins the tenant base and supports leasing velocity.
Neighborhood occupancy is below the metro median (local occupancy rank 820 of 889), indicating some variability in lease-up and retention at the neighborhood level. Even so, elevated home values (near the top of national distributions) signal a high-cost ownership market that tends to sustain reliance on multifamily rentals. With a rent-to-income ratio around 27% in the neighborhood, pricing power exists but should be balanced with thoughtful lease management to mitigate affordability pressure.
Demographic statistics aggregated within a 3-mile radius show essentially stable population alongside a modest increase in households and smaller household sizes over time, which can translate into a larger tenant base for smaller-format units and support occupancy stability.
Safety performance trails both national and metro benchmarks, based on WDSuite’s CRE market data. The neighborhood sits below the metro average for safety (crime rank 229 of 889), and national comparisons place violent and property offenses in lower percentiles. That said, recent trends show improvement, with double‑digit year‑over‑year decreases in both violent and property offense estimates, indicating directional progress rather than a structural shift.
For underwriting, this context suggests conservative assumptions on security, insurance, and turnover, while recognizing that the recent downward trend may support incremental stabilization if sustained.
Proximity to major corporate offices in Manhattan and nearby Brooklyn supports commuter convenience and a diversified white-collar renter pool. Notable employers below reflect finance, insurance, and consumer brands that can reinforce leasing stability.
- Dr Pepper Snapple Group — beverages (4.9 miles)
- S&P Global — financial services (6.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.3 miles) — HQ
- Robert Half International — professional staffing (6.3 miles)
- AIG — insurance (6.3 miles) — HQ
2012 construction in a largely pre‑war neighborhood provides relative competitive advantage, with modern systems and layouts appealing to renters seeking updated product. The submarket’s high-cost ownership environment and dense amenity access help sustain renter demand, while the renter-occupied share locally and within a 3‑mile radius points to a deep tenant pool. According to CRE market data from WDSuite, neighborhood occupancy trends run below the metro median, so business plans should emphasize retention, targeted renovations, and operational execution.
Demographics within a 3‑mile radius indicate stable population, a modest rise in households, and smaller average household sizes over time — all consistent with steady multifamily absorption, particularly for efficient floor plans. Safety metrics have improved year over year but remain weaker than metro averages; underwriting should incorporate prudent security and insurance line items while recognizing the positive trajectory.
- Newer 2012 asset competes well versus older neighborhood stock, with mid‑life CapEx planning manageable over hold
- High-cost ownership market supports sustained rental reliance and potential pricing durability
- Deep renter base locally and within 3 miles supports leasing velocity and occupancy stability
- Amenity-rich location enhances renter appeal and day‑to‑day convenience
- Risk: Below‑median neighborhood occupancy and softer safety stats warrant conservative underwriting and active asset management