| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 43rd | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16 Ten Eyck St, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1984 |
| Units | 48 |
| Transaction Date | 2024-12-31 |
| Transaction Price | $40,056,791 |
| Buyer | LA CABANA ACQUISITION LLC |
| Seller | CAM CABANA LLC |
16 Ten Eyck St, Brooklyn multifamily investment thesis
Urban-core location with dense amenities and a renter-heavy housing base supports stable leasing at the neighborhood level, according to WDSuite’s CRE market data.
Located in Brooklyn’s Urban Core, the property benefits from a neighborhood that ranks 110 out of 889 metro neighborhoods (top quartile) on overall performance. Dense daily-needs access stands out: amenities, groceries, parks, restaurants, and pharmacies all benchmark in the top national percentiles, helping support renter appeal and day-to-day convenience for residents.
Neighborhood occupancy is measured at 96.6% and has trended up over five years; this is above the metro median (rank 245 of 889), pointing to resilient leasing conditions at the neighborhood level rather than at the property. The share of housing units that are renter-occupied is high (rank 28 of 889; very strong nationally), which signals a deep tenant base and supports demand for smaller-format units typical of urban Brooklyn.
The asset’s 1985 construction is newer than the neighborhood’s average vintage (1975). That relative positioning can enhance competitive standing versus older local stock, while still warranting targeted modernization and capital planning around aging systems to drive rent-ready finishes and reduce near-term CapEx variability.
Within a 3-mile radius, population and household counts have grown over the last five years and are projected to continue rising through 2028, expanding the renter pool. Higher home values in the neighborhood (top national percentiles) indicate a high-cost ownership market, which tends to sustain multifamily demand and support lease retention. Neighborhood rents benchmark above national averages, which reinforces pricing power but warrants attentive lease management where rent-to-income levels introduce affordability pressure.
School ratings in the neighborhood trend below metro norms (below the metro median; low national percentile), which may moderate appeal for family-focused renters but is less impactful for studios and smaller units. Overall, the combination of top-tier amenities access, renter concentration, and above-median occupancy creates a durable context for multifamily performance.
Safety metrics in the immediate neighborhood are weaker than national averages, with rankings indicating more reported crime relative to many U.S. neighborhoods. Within the New York–Jersey City–White Plains metro, the area is competitive among 889 neighborhoods (crime rank 347 of 889), reflecting big-city dynamics rather than block-level conditions.
Recent trend data shows improvement: estimated violent and property offense rates have declined year over year, which is a constructive signal for operators monitoring onsite security and resident retention. Investors typically account for these dynamics through lighting, access control, and partnership with local resources to support steady operations.
Proximity to major employers in utilities, media/technology, and financial services supports a broad commuter tenant base and leasing durability. Nearby demand drivers include Con Edison, Yahoo, Consolidated Edison, New York Life Insurance Company, and Netflix.
- Con Edison Distribution Engineering — utilities (2.64 miles)
- Yahoo — digital media (2.64 miles)
- Consolidated Edison — electric utility (2.65 miles) — HQ
- New York Life Insurance Company — insurance (2.79 miles)
- Netflix — media & production (2.88 miles)
16 Ten Eyck St is positioned in a top-quartile Brooklyn neighborhood where occupancy is above the metro median and renter concentration is very high, supporting a deep tenant base and steady lease-up at the neighborhood level. Elevated home values in the area reinforce reliance on multifamily, and neighborhood rents sit above national benchmarks—favorable for revenue but requiring attentive affordability management. Based on CRE market data from WDSuite, local crime rates are improving on a year-over-year basis, which can aid retention as operators maintain pragmatic security practices.
Built in 1985, the asset is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock and potential to capture value through targeted modernization of interiors and building systems. Three-mile radius demographics point to ongoing population and household growth through 2028, enlarging the renter pool and supporting long-run demand fundamentals.
- Above-median neighborhood occupancy and high renter-occupied share support leasing stability
- 1985 vintage offers competitive edge versus older local stock with value-add potential
- Urban-core amenity density and access to major employers underpin demand
- High home values bolster multifamily reliance and pricing power over time
- Risks: affordability pressure (rent-to-income), below-average school ratings, and safety metrics that warrant active management