| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 78th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 150 4th Ave, Brooklyn, NY, 11217, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 95 |
| Transaction Date | 2011-11-23 |
| Transaction Price | $57,500,000 |
| Buyer | 150 Fourth Avenue LLC |
| Seller | Partners on Fourth LLC |
150 4th Ave, Brooklyn Multifamily Investment
Newer stock in an Urban Core corridor with deep renter demand and steady neighborhood occupancy, according to WDSuite’s CRE market data. High-cost homeownership nearby supports sustained reliance on rentals, reinforcing leasing durability for a 95-unit asset.
Situated in Brooklyn’s Urban Core, the property benefits from a neighborhood that is competitive among New York–Jersey City–White Plains neighborhoods (32 out of 889) for overall quality. Dense amenities are a hallmark here, with abundant cafes, groceries, pharmacies, parks, and restaurants ranking at the top nationally—conveniences that tend to support renter satisfaction and retention.
The area’s housing stock is older on average (early 1960s), so a 2011 vintage positions this asset as relatively newer versus much of the local supply—an advantage for leasing and maintenance competitiveness while still meriting ongoing systems planning over the coming hold.
Neighborhood occupancy trends sit around the mid‑range nationally, and the renter-occupied share is high for the area, indicating a sizable tenant base and durable demand for multifamily product. Median contract rents in the neighborhood are elevated relative to national levels, but rent-to-income levels track near the national middle, suggesting manageable affordability pressure and aiding lease stability.
Within a 3‑mile radius, demographics show population growth with a faster increase in households and a modest decline in average household size. This pattern typically expands the renter pool and supports occupancy stability. Income levels are strong locally, and elevated home values in the immediate neighborhood point to a high-cost ownership market that tends to reinforce multifamily demand. These dynamics, based on multifamily property research from WDSuite, underpin a steady long-run leasing backdrop.
Safety outcomes reflect an Urban Core setting. Relative to neighborhoods nationwide, current crime measures track below national safety percentiles, while recent trends indicate improvement with year‑over‑year declines in both property and violent offense rates. At the metro level (889 neighborhoods), the area compares below the median for safety but has been moving in a favorable direction. Investors should underwrite with prudent security, lighting, and access-control assumptions and monitor continued trend improvements.
Proximity to major corporate employers in Lower Manhattan and Downtown Brooklyn supports a large commuter tenant base and helps leasing retention for workforce and professional renters. Nearby anchors include Dr Pepper Snapple Group, S&P Global, AIG, Guardian Life, and Robert Half.
- Dr Pepper Snapple Group — corporate offices (1.9 miles)
- S&P Global — financial information services (2.2 miles) — HQ
- AIG — insurance (2.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.2 miles) — HQ
- Robert Half International — professional staffing (2.3 miles)
2011 construction provides a relative edge versus the area’s older housing stock, supporting leasing competitiveness while leaving room for targeted modernization over time. The neighborhood’s deep renter concentration and amenity density, combined with mid‑range national occupancy positioning, suggest durable demand and manageable turnover risk. Elevated ownership costs locally tend to sustain reliance on rentals, and within a 3‑mile radius, population and household growth point to a larger tenant base over the next few years.
According to commercial real estate analysis grounded in WDSuite’s CRE market data, rent levels are high for the neighborhood in national context, yet income strength and an expanding household count help support absorption. Key underwriting considerations include conservative assumptions for safety-related OPEX and maintaining competitive finishes to preserve pricing power versus older comparables.
- Newer 2011 vintage versus local 1960s stock supports leasing and maintenance competitiveness
- High renter-occupied share indicates a deep tenant base and demand durability
- Amenity-rich Urban Core location enhances resident satisfaction and retention potential
- Household growth within 3 miles expands the renter pool, supporting occupancy stability
- Risk: Safety metrics trail national percentiles; underwrite prudent security and OPEX, and monitor local trends