| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 26th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 165 Lott Ave, Brooklyn, NY, 11212, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1986 |
| Units | 108 |
| Transaction Date | 2023-05-05 |
| Transaction Price | $17,813,447 |
| Buyer | TGA GP HOLDCO LLC |
| Seller | BENNETT ROBERT |
165 Lott Ave, Brooklyn NY Multifamily Investment
Neighborhood-level occupancy has been resilient and renter demand deep, according to WDSuite s CRE market data, supporting stable operations for well-managed assets. This positioning favors disciplined pricing and tenant retention while acknowledging affordability pressures typical for the area.
Located in Brooklyn s Urban Core, the neighborhood shows solid renter fundamentals: renter-occupied housing accounts for a high share of units (neighborhood-level), indicating a deep tenant base and support for multifamily demand. The area s occupancy rate is competitive among New York-Jersey City-White Plains neighborhoods and sits in the top quartile nationally, per WDSuite s CRE market data for the neighborhood (not the property).
Daily-needs access is a relative strength. Parks, pharmacies, and childcare density rank among the stronger pockets locally (top quartile among 889 metro neighborhoods) and in high national percentiles, while grocery access is competitive within the metro. Caf e9 density is limited, which tempers lifestyle appeal, and school ratings track below national averages a consideration for family-oriented product.
Within a 3-mile radius, demographics indicate a growing renter pool: households increased over the last five years and are projected to expand further alongside modest population growth and a gradual downshift in average household size. This points to a larger tenant base and supports occupancy stability for multifamily assets.
Home values in the neighborhood are elevated in national context and the value-to-income ratio ranks near the top nationally, indicating a high-cost ownership market. For investors, that dynamic tends to sustain reliance on rental housing and can support pricing power, though it requires careful lease management given higher rent-to-income ratios observed at the neighborhood level.
The property s 1986 vintage is newer than the neighborhood s average stock, which skews mid-20th century. That can be a competitive advantage versus older buildings, while still leaving room for targeted modernization (systems, common areas, or unit finishes) to enhance positioning and NOI.
Safety indicators for the neighborhood are below national norms, with violent and property offense rates placing in low national percentiles. Recent trend data show year-over-year declines in both categories, suggesting gradual improvement, but investors should underwrite with conservative assumptions and align on appropriate security, lighting, and property management protocols.
In metro context, overall crime levels track around the middle of the pack among New York-Jersey City-White Plains neighborhoods. For asset strategy, this typically argues for durable operations and resident experience measures that support retention and mitigate turnover.
Proximity to finance, insurance, and corporate services employers underpins steady commuter demand and supports leasing durability for workforce and market-rate units. The following nearby offices help anchor the area s employment base.
- Prudential d insurance & financial services (3.0 miles)
- Dr Pepper Snapple Group d consumer beverages (6.0 miles)
- Aig d insurance (6.1 miles) d HQ
- S&P Global d financial information & ratings (6.2 miles) d HQ
- Guardian Life Ins. Co. of America d insurance (6.2 miles) d HQ
This 108-unit asset at 165 Lott Ave benefits from a high-renter neighborhood with competitive occupancy performance and daily-needs access that supports retention. The 1986 vintage is newer than much of the surrounding stock, offering relative competitiveness today and clear, targeted value-add paths through modernization. According to CRE market data from WDSuite, neighborhood occupancy trends are strong in a national context, while a high-cost ownership market reinforces reliance on rentals.
Investor focus should balance these strengths against risks: safety metrics run below national norms and rent-to-income levels point to affordability pressure in parts of the tenant base. Underwriting that emphasizes resident experience, thoughtful capex, and income management can position the asset for durable cash flow in line with broader metro multifamily performance.
- High renter concentration and competitive neighborhood occupancy support demand depth
- 1986 vintage out-positions older local stock with room for targeted renovations
- Daily-needs access (parks, pharmacies, groceries) aids retention and leasing
- Elevated ownership costs bolster rental reliance and pricing power potential
- Risks: below-national safety metrics and affordability pressure require disciplined operations