| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 74th | Good |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 163 Washington Ave, Brooklyn, NY, 11205, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2010 |
| Units | 49 |
| Transaction Date | 2011-05-11 |
| Transaction Price | $22,000,000 |
| Buyer | 163 Washington Avenue LLC |
| Seller | Washington Hall Holdings LLC |
163 Washington Ave, Brooklyn Multifamily Investment
Newer 2010 construction in an urban core pocket with deep renter demand and elevated for-sale pricing supports durable leasing, according to WDSuite’s CRE market data. Neighborhood-level occupancy and incomes point to stable cash flow potential with room for targeted value-add over time.
Situated in Brooklyn’s Urban Core, the neighborhood ranks in the top quartile among 889 metro neighborhoods (overall A rating), with dense amenities and daily convenience that help sustain renter interest. Cafes, groceries, pharmacies, parks, and restaurants benchmark at the top of national distributions, reinforcing walkability and lifestyle appeal that typically support leasing velocity and retention for multifamily assets.
The area’s housing stock skews renter-occupied at the neighborhood level, indicating a substantial base of renter households that can deepen demand for professionally managed apartments. Reported neighborhood occupancy sits around the national middle, which suggests steady—but competitive—leasing conditions where well-maintained, well-located assets can differentiate on finishes, management, and conveniences.
Within a 3-mile radius, recent population growth alongside a larger increase in households indicates a rising tenant base and slightly smaller average household sizes—factors that can translate into more renters entering the market and support for occupancy stability. Forward-looking projections within the same 3-mile radius point to continued household expansion, which can reinforce demand for multifamily units as supply and preferences evolve. Where helpful to underwriting, multifamily property research can be used to align unit mixes and amenities with the area’s age and income distribution.
Elevated neighborhood home values relative to incomes signal a high-cost ownership market, which tends to sustain reliance on rental housing and can bolster pricing power for quality assets. At the same time, reported rent-to-income levels suggest measured affordability pressure, supporting renewal dynamics when paired with sound lease management. With the property’s 2010 vintage compared to a much older neighborhood average, investors can position it competitively versus older stock while planning for periodic modernization of systems and common areas to maintain appeal.
Safety indicators benchmark below national norms at the neighborhood level, with rankings that sit below the metro median among 889 neighborhoods and national percentiles indicating comparatively higher reported offense rates. Recent year-over-year trends show double-digit declines in both property and violent categories, which is a constructive signal, though performance remains weaker than many peer neighborhoods. Investors typically account for this with enhanced property-level security practices, lighting, and resident engagement, and by emphasizing the submarket’s access, amenities, and employment base.
Nearby employment is concentrated in finance and insurance, providing a sizable professional workforce that values commute convenience—supportive of renter demand and lease retention for well-managed multifamily. Key nearby anchors include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- Aig — insurance (2.2 miles) — HQ
- S&P Global — financial data & ratings (2.3 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.4 miles) — HQ
- Amtrust Financial Services — insurance (2.4 miles) — HQ
- Assurant — insurance (2.5 miles) — HQ
163 Washington Ave offers 49 units built in 2010—newer than much of the surrounding stock—positioning the asset to compete on finishes and building systems against older alternatives. Strong amenity density and a renter-heavy neighborhood underpin steady demand, while elevated for-sale pricing in the area tends to reinforce reliance on multifamily housing. Within a 3-mile radius, growth in households and higher-income segments expands the tenant base, supporting occupancy stability and renewal potential. Based on CRE market data from WDSuite, neighborhood occupancy aligns near national midpoints, so execution around unit quality, management, and lease strategy remains the lever for outperformance.
Key considerations include maintaining contemporary interiors and common areas to stay ahead of older comparables, and addressing safety perceptions with visible property-level measures. Overall, the combination of newer vintage, deep renter concentration, and proximity to major employers provides a balanced long-term thesis with clear operational levers.
- Newer 2010 vintage versus older neighborhood stock supports competitive positioning and lower near-term capex.
- Dense, top-tier amenities and a renter-heavy neighborhood support leasing velocity and retention.
- Household growth within 3 miles expands the tenant base and supports occupancy stability over time.
- Elevated ownership costs in the area reinforce sustained demand for professionally managed rentals.
- Risk: Neighborhood safety benchmarks below national norms; proactive security and quality management are important to performance.