| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 43rd | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1505 Saint Marks Ave, Brooklyn, NY, 11233, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2009 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1505 Saint Marks Ave, Brooklyn Multifamily Investment
Strong renter concentration in the neighborhood and solid amenity access point to durable demand and occupancy stability for this asset, according to WDSuite’s CRE market data. Neighborhood statistics reference the surrounding area, not the property itself.
Located in Brooklyn’s Urban Core, the surrounding neighborhood rates A- and ranks 207 out of 889 metro neighborhoods, indicating competitive fundamentals within the New York–Jersey City–White Plains metro. Amenity access is a relative strength — neighborhood amenity density sits in the top quartile nationally, with groceries, parks, pharmacies, cafes, and restaurants all testing well above national benchmarks. These amenities typically support leasing velocity and retention for multifamily properties serving local renters.
Neighborhood occupancy is reported at 94.2% (area-wide), roughly in the metro middle. Importantly for multifamily investors, renter-occupied housing share is elevated — the neighborhood’s renter concentration is competitive among metro peers and tests in a top national percentile. That depth of renter households suggests a broad tenant base that can underpin leasing stability across cycles.
Home values in the neighborhood benchmark high versus the nation (upper percentiles), and the value-to-income ratio also trends among the highest nationally. In practical terms, this is a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power for well-positioned properties. At the same time, rent-to-income levels imply some affordability pressure for renters, requiring attentive lease management to balance occupancy and effective rents.
Schools in the area score below national averages, which can be less of a constraint for studios and smaller units but may matter for family-oriented product. Demographic indicators aggregated within a 3-mile radius show recent population and household growth, with forecasts pointing to continued household gains and smaller average household sizes — trends that typically expand the renter pool and support steady absorption.
Asset vintage context: The property was built in 2009, materially newer than the neighborhood’s older average stock. This relative youth can enhance competitive positioning versus prewar inventory, while still warranting capital planning for mid-life systems and selective renovations to capture value-add upside.
Safety dynamics are mixed in the surrounding neighborhood. Relative to the metro, overall crime ranks near the middle (464 out of 889), while national comparisons place the area below the national median for safety. Recent trend data shows year-over-year improvement in violent incidents in the neighborhood, which is a constructive signal, though property crime remains an area to monitor. Investors typically underwrite with conservative assumptions, incorporate security features where appropriate, and track submarket trendlines rather than block-level variation.
The area draws on a deep, white-collar employment base that supports multifamily demand through commute convenience to major insurers and financial services firms, as well as a notable airline headquarters and consumer brands. Nearby anchors include Prudential, AIG, S&P Global, Guardian Life, and JetBlue.
- Prudential — insurance (3.5 miles)
- Aig — insurance (5.1 miles) — HQ
- S&P Global — financial services (5.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.3 miles) — HQ
- Jetblue Airways — airline headquarters (5.4 miles) — HQ
1505 Saint Marks Ave offers exposure to a renter-heavy Brooklyn neighborhood with strong amenity access and high-cost ownership dynamics that tend to sustain multifamily demand. Based on CRE market data from WDSuite, area-wide occupancy sits around the metro middle while renter concentration tests among the highest nationally — a combination that supports day-to-day leasing while allowing well-positioned assets to compete on convenience and value. Demographics within a 3-mile radius show recent growth and a projected increase in households, which can expand the tenant base and reinforce steady absorption.
Built in 2009, the 72-unit property is newer than much of the neighborhood’s older housing stock. That vintage can provide a competitive edge versus prewar assets, with potential to capture value through targeted renovations and ongoing system updates typical at mid-life. High home values in the area reinforce reliance on rentals, though rent-to-income levels suggest prudent rent setting and renewal strategies to maintain occupancy and minimize turnover.
- Renter-heavy neighborhood and top-tier amenity access support durable leasing.
- 2009 construction offers competitive positioning versus older local stock and selective value-add potential.
- High ownership costs nearby reinforce sustained renter demand and potential pricing power.
- Demographic growth within 3 miles points to a larger tenant base over time.
- Risks: below-average school scores, safety variability versus national benchmarks, and renter affordability pressure necessitate balanced underwriting.