| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 52nd | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1447 Broadway, Brooklyn, NY, 11221, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1992 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1447 Broadway Brooklyn Multifamily Investment
Renter concentration is high and neighborhood occupancy has trended stable, supporting steady leasing fundamentals according to WDSuite’s CRE market data. This Urban Core location offers depth of demand with room for value-add execution.
The property sits in an Urban Core Brooklyn neighborhood rated A, ranking 97 out of 889 metro neighborhoods — a position that is above the metro median and competitive for investors. Amenity access is a clear strength: neighborhood metrics are in the top national percentiles for groceries, restaurants, cafes, pharmacies, parks, and childcare, which supports daily convenience and renter retention (based on CRE market data from WDSuite).
Neighborhood occupancy is 94.1% with a five‑year improvement, indicating demand resilience at the neighborhood level rather than the property specifically. The renter-occupied share of housing units is 75.8%, signaling a deep tenant base and reinforcing multifamily demand through economic cycles. By contrast, average school ratings in the area are weaker, which may matter for family-oriented leasing strategies.
Construction year patterns also matter: with much of the surrounding housing stock averaging 1948, a 1992 vintage positions this asset as newer than much of the local inventory — a relative advantage against older competitive sets while still leaving room for modernization or system upgrades to support rent positioning.
Within a 3‑mile radius, demographics show population growth over the past five years with households rising faster than population, and forecasts call for further increases in households alongside smaller average household sizes. This points to a larger tenant base and continued demand for rental units, supporting occupancy stability and lease-up predictability for well-managed assets.
Home values are elevated locally and the value‑to‑income ratio is high versus national norms. In practical terms, a high‑cost ownership market tends to sustain reliance on multifamily housing, which can aid pricing power and lease retention. At the same time, rent-to-income levels indicate some affordability pressure, suggesting attention to lease management and renewal strategies.
Safety indicators for the neighborhood are mixed. Compared with the 889 neighborhoods in the New York–Jersey City–White Plains metro, the neighborhood’s rank (265 out of 889; lower ranks indicate higher reported crime) suggests crime is higher than many parts of the metro. Nationally, safety percentiles indicate the area is below average on both violent and property offense measures.
Recent trends are constructive: according to WDSuite’s CRE market data, estimated violent and property offense rates have declined year over year by double‑digits. For investors, the takeaway is to underwrite with conservative assumptions while noting the improving trajectory and the area’s strong amenity base that supports renter demand.
Nearby corporate offices anchor a diverse employment base that supports renter demand and commute convenience, including Prudential, JetBlue Airways, AIG, Yahoo, and Con Edison Distribution Engineering.
- Prudential — insurance (3.8 miles)
- JetBlue Airways — airline HQ (4.4 miles) — HQ
- AIG — insurance (4.7 miles) — HQ
- Con Edison Distribution Engineering — utilities engineering (4.8 miles)
- Yahoo — media & technology (4.8 miles)
This 100‑unit, 1992‑built asset in Brooklyn competes against older local stock, offering relative durability versus pre‑war buildings while retaining value‑add potential through targeted interior updates and system modernization. Neighborhood occupancy of 94.1% and a five‑year uptrend, combined with a 75.8% share of renter‑occupied housing units, point to depth of tenant demand and occupancy stability. Elevated home values and a high value‑to‑income environment reinforce renter reliance on multifamily housing, while the area’s amenity density supports retention.
According to commercial real estate analysis from WDSuite, household counts within a 3‑mile radius have increased and are projected to expand further as average household size moderates — dynamics that typically broaden the renter pool and support leasing. Key underwriting considerations include neighborhood safety levels and rent‑to‑income pressure, which call for disciplined lease management and community‑oriented operations.
- Newer‑than‑area vintage (1992) versus older neighborhood stock supports competitive positioning with value‑add upside.
- Stable neighborhood occupancy and high renter concentration support demand depth and leasing durability.
- High‑cost ownership market sustains multifamily demand and can aid pricing power and retention.
- Growing 3‑mile household base and smaller household sizes expand the renter pool over time.
- Risks: below‑average safety metrics and elevated rent‑to‑income levels warrant prudent underwriting and proactive resident engagement.