| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 26th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 170 Riverdale Ave, Brooklyn, NY, 11212, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1974 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
170 Riverdale Ave, Brooklyn — 74-Unit Multifamily
Neighborhood renter-occupied share is high and occupancy trends are firm, supporting durable demand according to WDSuite’s CRE market data.
Located in Brooklyn’s Urban Core, the property sits in a renter-driven neighborhood with an estimated 80% of housing units renter-occupied. For investors, this depth of the tenant base supports leasing velocity and renewals, while the neighborhood’s occupancy rate ranks 291 out of 889 metro neighborhoods — competitive among New York-Jersey City-White Plains submarkets and indicative of steady absorption.
Amenity access skews practical: grocery and pharmacy densities score in the mid-to-high 90s nationally, and parks are also strong, while cafes are comparatively sparse. Average school ratings trend weaker (bottom decile nationally), which can modestly affect family-oriented demand profiles but is often offset in workforce housing by proximity to daily needs.
Vintage matters: built in 1974, the asset is newer than the neighborhood’s older housing stock (average vintage mid-1940s). That positioning can enhance competitiveness versus prewar inventory, though systems are mid-life and investors should underwrite selective capital expenditures or value-add upgrades to capture rent positioning.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing, implying a larger tenant base over the medium term. At the same time, elevated home values relative to local incomes point to a high-cost ownership market, which tends to sustain reliance on rental housing and can support occupancy stability. Median contract rents have risen over the last five years, and lease management should balance this momentum with awareness of rent-to-income affordability pressure. These dynamics align with the neighborhood’s Above-metro-median occupancy and support a pragmatic commercial real estate analysis foundation for underwriting, based on CRE market data from WDSuite.
Safety indicators for the neighborhood are mixed when viewed in context. Relative to neighborhoods nationwide, overall safety levels trend below average, while within the New York-Jersey City-White Plains metro the area sits around the middle of the pack (crime rank 442 out of 889 metro neighborhoods). Importantly, recent year-over-year estimates indicate declines in both violent and property offenses, suggesting modest improvement rather than deterioration.
Investors may wish to incorporate prudent operating measures (access control, lighting, cameras) into capex planning and emphasize on-site management presence. Framing safety at the neighborhood level — not the property — helps set realistic expectations for retention and marketing strategies without overreaching block-level conclusions.
The area draws from a diversified corporate base that can support renter demand through commute convenience, including Prudential, Dr Pepper Snapple Group, AIG, S&P Global, and Guardian Life Ins. Co. of America.
- Prudential — corporate offices (3.1 miles)
- Dr Pepper Snapple Group — corporate offices (5.8 miles)
- Aig — corporate offices (5.9 miles) — HQ
- S&P Global — corporate offices (6.0 miles) — HQ
- Guardian Life Ins. Co. of America — corporate offices (6.0 miles) — HQ
170 Riverdale Ave offers scale at 74 units in a neighborhood where renter-occupied housing is dominant and occupancy performance is competitive among metro peers. Elevated ownership costs relative to incomes reinforce reliance on multifamily, supporting depth of demand and leasing stability. The 1974 vintage is newer than much of the surrounding stock, creating positioning advantages versus older buildings, with targeted renovations or system updates offering potential value-add pathways.
According to CRE market data from WDSuite, neighborhood occupancy trends sit above the metro median with steady five-year improvement, while broader 3-mile demographic growth points to a gradually expanding renter pool. Investors should balance this backdrop with prudent underwriting around affordability pressure and neighborhood safety, emphasizing active management and thoughtful capex.
- Renter-driven location with competitive metro occupancy supporting stable leasing
- 1974 vintage is newer than local stock, enabling value-add repositioning
- High-cost ownership market sustains reliance on rentals and demand depth
- 3-mile population and household growth support a larger tenant base over time
- Risks: affordability pressure (rent-to-income), below-average neighborhood safety; emphasize active management and capex planning