| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 95th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 157 Kent Ave, Brooklyn, NY, 11249, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2012 |
| Units | 89 |
| Transaction Date | 2010-11-18 |
| Transaction Price | $5,000,000 |
| Buyer | WATERVIEW LOFTS LLC |
| Seller | MATARESE/MANDELLA LLC |
157 Kent Ave, Brooklyn multifamily investment in amenity-rich core
Positioned in a high-demand Urban Core pocket of Brooklyn, the property benefits from deep renter demand and strong neighborhood fundamentals, according to WDSuite’s CRE market data.
Located in Williamsburg along Kent Ave, the asset sits within an Urban Core neighborhood that ranks competitive among New York-Jersey City-White Plains metro neighborhoods (top quartile by overall neighborhood quality out of 889). Daily needs and lifestyle amenities are dense: restaurants, cafes, groceries, parks, and pharmacies all benchmark at the top of national distributions, supporting resident retention and consistent leasing.
Construction year 2012 positions the property newer than the area’s average 1970s vintage, which typically enhances competitive standing versus older walk-ups while still leaving room for modernization or system upgrades as part of a long-term capital plan. Neighborhood occupancy is stable around the low-90s and has trended modestly higher over five years, supporting income consistency.
Renter concentration is high at the neighborhood level, with roughly three-quarters of housing units renter-occupied. For multifamily investors, that indicates a deep tenant base and durable demand across cycles rather than reliance on a thin segment of owner-occupied turnover.
Within a 3-mile radius, demographics point to population growth and a rising household count, alongside high median incomes. This combination expands the renter pool and supports pricing power for well-located assets, while the high-cost ownership market in the immediate area tends to reinforce reliance on multifamily housing.
Neighborhood safety benchmarks below national averages on recent measures, indicating investors should underwrite prudent security, insurance, and loss assumptions. That said, year-over-year trends have improved, with notable declines reported in both violent and property offenses, suggesting conditions are moving in a favorable direction rather than deteriorating.
Compared with peer neighborhoods across the New York-Jersey City-White Plains metro (889 total), the area is better framed through trend and comparative context rather than block-level claims. Recent improvement momentum can help leasing stability, but near-term underwriting should still reflect cautious expectations relative to safer national-percentile cohorts.
The location draws from a diversified Manhattan-Brooklyn employment base that supports renter demand and short commutes, notably in utilities, media/tech, and financial services. Nearby anchors include Con Edison Distribution Engineering, Consolidated Edison, Yahoo, New York Life Insurance Company, and Netflix.
- Con Edison Distribution Engineering — utilities engineering (1.69 miles)
- Consolidated Edison — utilities (1.69 miles) — HQ
- Yahoo — media & tech (1.69 miles)
- New York Life Insurance Company — financial services (1.90 miles)
- Netflix — media & streaming (1.93 miles)
157 Kent Ave offers exposure to one of Brooklyn’s most amenity-dense corridors, with neighborhood rents, incomes, and renter concentration supporting durable demand. Based on CRE market data from WDSuite, occupancy at the neighborhood level has held in the low-90s with a modest upward trend, and home values remain elevated locally, which tends to sustain reliance on multifamily rentals and supports lease retention for well-situated properties.
Built in 2012, the asset is materially newer than much of the surrounding housing stock, providing a competitive edge versus older buildings while still allowing for targeted modernization to drive NOI. Average unit sizes are compact, which can appeal to lifestyle renters seeking location efficiency; investors should balance this with floor plan strategy to maintain absorption and renewal strength in various cycles.
- Amenity-rich Urban Core location with top-tier national access to food, retail, parks, and daily needs that support leasing performance.
- 2012 vintage provides relative competitiveness versus older neighborhood stock with potential to create value through selective upgrades.
- Neighborhood renter concentration and sustained occupancy underpin depth of tenant demand and income stability.
- Elevated ownership costs in the area reinforce multifamily demand and can support pricing power for well-managed assets.
- Risks: safety metrics sit below national averages and compact unit sizes may narrow the tenant pool; underwriting should incorporate conservative premiums and leasing assumptions.