| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 43rd | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1704 Saint Johns Pl, Brooklyn, NY, 11233, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1993 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1704 Saint Johns Pl Brooklyn Multifamily Investment
Neighborhood renter demand is durable with occupancy stability and an amenity-rich urban core, according to WDSuite’s CRE market data. Focus for investors is on consistent leasing potential supported by a large renter base rather than one-time catalysts.
Situated in Brooklyn’s Urban Core, the immediate neighborhood rates A- and sits competitive among New York–Jersey City–White Plains submarkets, with amenities in the top quartile among 889 metro neighborhoods. Dense access to groceries, parks, restaurants, and daily services supports resident convenience and retention—useful for maintaining occupancy and reducing turnover.
Renter concentration in the neighborhood is among the highest nationally, indicating a deep base of renter-occupied units. For multifamily owners, this points to steady tenant demand and a broad leasing funnel, while the neighborhood occupancy level (not the property) trends above the national median, suggesting resilience through cycles.
Within a 3-mile radius, population and household counts have grown in recent years, with projections indicating further population growth and a notable increase in households. A smaller average household size is expected, which can expand the renter pool and support absorption of smaller units and studios—factors that generally aid occupancy stability and lease-up velocity.
Home values locally reflect a high-cost ownership market relative to incomes. For investors, that dynamic tends to sustain reliance on rental housing and can support pricing power, provided rent-to-income is managed to mitigate affordability pressure and retention risk. Schools in the broader area are below national averages on ratings; this may modestly narrow family-driven demand but is typically less material for workforce- and young-professional renter segments in this part of Brooklyn.
The neighborhood’s housing stock skews older (average construction year earlier than mid-century), while the subject property was built in 1993. That vintage is newer than much of the surrounding inventory, which can be competitively advantageous; investors should still plan for modernization of building systems and common areas to maintain positioning against ongoing renovations nearby.
Safety conditions in the neighborhood track weaker than national benchmarks, with crime levels elevated compared with neighborhoods nationwide. Within the New York–Jersey City–White Plains metro, the area ranks around the midpoint among 889 neighborhoods, indicating it is neither among the metro’s safest nor its most challenged subareas.
Recent trends point to year-over-year improvement in violent offenses at the neighborhood level, though rates remain high versus national norms. Investors typically account for this by emphasizing on-site security practices, lighting, and community engagement, and by underwriting slightly higher operating costs where appropriate.
Proximity to major office employers supports commuter convenience and a diversified renter base. Notable nearby firms include Prudential, AIG, Dr Pepper Snapple Group, S&P Global, and Guardian Life.
- Prudential — insurance (3.6 miles)
- Aig — insurance (5.1 miles) — HQ
- Dr Pepper Snapple Group — consumer beverages (5.2 miles)
- S&P Global — financial services & data (5.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.3 miles) — HQ
1704 Saint Johns Pl is a 1993-vintage, 100-unit asset positioned in a renter-dense Brooklyn submarket where neighborhood occupancy is above the national median and amenities are a clear strength. High-cost ownership dynamics in the area tend to reinforce reliance on multifamily housing, supporting pricing power when paired with attentive lease and renewal management. Based on CRE market data from WDSuite, the surrounding renter base is large and stable, and demographic trends within a 3-mile radius indicate population growth and a meaningful increase in households—pointing to a larger tenant base over the medium term.
Relative to the predominantly older neighborhood stock, a 1993 build can compete effectively with targeted upgrades. Investors should plan for system modernization and common-area refreshes to sustain rent positioning. Key watch items include elevated safety concerns compared with national norms and the need to manage affordability pressure to protect retention.
- Renter-dense submarket with neighborhood occupancy above national median supports leasing stability
- Amenity-rich Urban Core location aids retention and competitive positioning
- 1993 vintage newer than much of the area; value-add through targeted modernization
- High-cost ownership market underpins sustained demand for rentals and pricing power
- Risks: safety perceptions vs. national norms and affordability pressure requiring disciplined lease management