| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 156 Hope St, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 42 |
| Transaction Date | 2006-09-21 |
| Transaction Price | $4,800,000 |
| Buyer | HOPE STREET HOLDINGS LLC |
| Seller | SMITH ROBERT J |
156 Hope St, Brooklyn — 2009 Multifamily in A+ Urban Core
Neighborhood occupancy near 95% and a high renter concentration point to steady leasing performance, according to WDSuite’s CRE market data.
Situated in Brooklyn’s Urban Core, the property benefits from an A+ neighborhood rating (ranked 7th among 889 metro neighborhoods), indicating strong livability fundamentals for renters. Amenity access is a clear differentiator, with neighborhood counts for restaurants, cafes, groceries, parks, and pharmacies positioned at or near the top nationally, supporting daily convenience and enhancing tenant retention.
The 2009 construction is newer than the neighborhood’s average vintage (1974), offering relative competitiveness versus older stock. Investors should still plan for ongoing system updates as the asset approaches mid-life, but the vintage supports leasing against older comparables without requiring immediate, large-scale modernization.
Neighborhood data signal depth in multifamily demand: renter-occupied share is high, and the neighborhood occupancy rate trends in the 71st national percentile, suggesting resilient absorption and pricing power through cycles. Elevated home values (99th percentile nationally) indicate a high-cost ownership market, which typically sustains reliance on rental housing and supports lease retention.
Within a 3-mile radius, demographics show recent population growth with a larger share of higher-income households and an expanding household base. Projections point to additional population and household increases by 2028, which implies a larger tenant base and supports ongoing demand for rental units. School ratings are around the national middle, which is adequate for a renter-driven submarket where proximity to employment and amenities tends to outweigh school-driven selection criteria.
Safety metrics for the neighborhood are below national medians (around the 29th percentile nationally), so investors should underwrite appropriate security, lighting, and access controls. That said, recent trends point to improvement, with estimated year-over-year declines in both property and violent offenses, indicating some easing of incident rates compared with last year.
At the metro level, safety varies meaningfully across Brooklyn; positioning within a dense, amenity-rich corridor can aid passive surveillance and foot traffic. Investors should calibrate operating practices and insurance assumptions to neighborhood context rather than block-level conclusions, using current comparable data and on-site observations.
Nearby corporate offices create a deep professional employment base and short commutes for renters. The following employers are within a roughly 3-mile radius and support demand through steady white-collar headcounts: Con Edison Distribution Engineering, Yahoo, Consolidated Edison, New York Life Insurance Company, and Netflix.
- Con Edison Distribution Engineering — utilities engineering (2.5 miles)
- Yahoo — media & technology (2.5 miles)
- Consolidated Edison — utilities (2.5 miles) — HQ
- New York Life Insurance Company — insurance (2.6 miles)
- Netflix — media production (2.7 miles)
This 42-unit, 2009-vintage asset sits in one of the metro’s highest-scoring Urban Core neighborhoods, where amenity density and high renter concentration underpin demand. Elevated home values relative to income reinforce renter reliance on multifamily housing, while neighborhood occupancy sits above national medians, supporting leasing stability through cycles. Based on CRE market data from WDSuite, this location compares favorably against older neighborhood stock, positioning the property competitively while leaving room for selective mid-life improvements.
Within a 3-mile radius, recent population growth and rising household counts expand the renter pool, and forward projections indicate additional gains by 2028. For investors, that implies durable tenant demand, steady absorption, and the potential to sustain pricing, provided operations and capital planning address routine system updates and prudent safety measures.
- A+ Urban Core location with top-tier amenity access that supports leasing velocity and retention.
- 2009 vintage offers competitive positioning versus older neighborhood stock with targeted value-add potential.
- High renter concentration and occupancy above national medians indicate depth and stability of demand.
- 3-mile population and household growth broaden the tenant base and support ongoing absorption.
- Risks: safety metrics below national medians and mid-life systems require prudent Opex and CapEx planning.