| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 43rd | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1534 Prospect Pl, Brooklyn, NY, 11213, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2004 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1534 Prospect Pl Brooklyn Multifamily Investment
Neighborhood occupancy trends remain stable with deep renter demand, according to WDSuite's CRE market data, supporting income durability for a 2004-vintage asset.
Set in Brooklyn's Urban Core, the neighborhood ranks competitive among 889 New York–Jersey City–White Plains metro neighborhoods and posts mid-90s occupancy at the neighborhood level, modestly higher over five years. Renter concentration is high (share of housing units that are renter-occupied), signaling a broad tenant base for multifamily owners rather than single-family competition.
Daily-life convenience is a clear strength: amenity access sits in the top quartile nationally, with parks, grocery options, pharmacies, and restaurants especially dense by national standards. While average school ratings trend below national medians, transit-rich, amenity-heavy blocks support leasing velocity and retention for workforce and young professional segments.
Within a 3-mile radius, demographics show population and household growth with smaller average household sizes over time, expanding the renter pool and supporting occupancy stability. Incomes have been rising and median contract rents have advanced, which supports revenue, but lease management should monitor affordability to sustain retention; this commercial real estate analysis points to ongoing demand depth rather than sudden spikes.
Elevated home values relative to local incomes indicate a high-cost ownership market. For investors, that dynamic tends to reinforce reliance on multifamily rentals and can support pricing power and lease-up consistency, particularly for quality, well-maintained product.
The property's 2004 construction is newer than much of the surrounding housing stock (which skews pre-war). That positioning typically offers a competitive edge versus older buildings, though investors should still plan for aging systems and selective modernization to meet current renter expectations.
Safety metrics for the neighborhood track below national averages, and the area sits slightly below the metro median among 889 neighborhoods. Recent trends show reported violent offenses moving lower year over year, while property offenses have been more mixed. For investors, the takeaway is to underwrite prudent security measures and monitor trendlines rather than relying on block-level assumptions.
Positioning strategies that emphasize lighting, access control, and community management can help support resident satisfaction and retention as broader citywide safety initiatives continue to evolve.
Proximity to major corporate employers underpins renter demand by shortening commutes for finance, insurance, and consumer goods roles. Nearby anchors include Prudential, AIG, Dr Pepper Snapple Group, Guardian Life, and S&P Global.
- Prudential — insurance (3.9 miles)
- AIG — insurance (4.8 miles) — HQ
- Dr Pepper Snapple Group — beverages (4.9 miles)
- Guardian Life Ins. Co. of America — insurance (4.9 miles) — HQ
- S&P Global — financial data & ratings (4.9 miles) — HQ
1534 Prospect Pl benefits from durable renter demand in a neighborhood with mid-90s occupancy and a high share of renter-occupied housing units, supporting a broader tenant base than ownership alternatives. Elevated home values relative to local incomes point to a high-cost ownership market that typically sustains reliance on rentals and can support pricing power when paired with good operations.
The 2004 vintage is newer than much of the surrounding pre-war stock, offering relative competitiveness and potential to capture renters seeking modern systems and layouts. According to CRE market data from WDSuite, amenity density and nearby employment nodes further reinforce leasing fundamentals, while investors should still budget for selective modernization and active affordability management to protect retention as rents trend higher within a 3-mile radius.
- Demand depth: high renter-occupied share and steady neighborhood occupancy support leasing stability.
- Competitive positioning: 2004 construction outcompetes older local stock, with room for targeted upgrades.
- Location advantages: strong amenity access and proximity to major employers underpin retention.
- Risks: safety metrics trail national averages and school ratings are lower; underwrite security, community programming, and affordability to sustain retention.