| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 95th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 172 Montague St, Brooklyn, NY, 11201, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 63 |
| Transaction Date | 2012-05-15 |
| Transaction Price | $12,000,000 |
| Buyer | BH 1 CD LLC |
| Seller | ROBAR LLC |
172 Montague St, Brooklyn — 2013 Multifamily in A+ Urban Core
Positioned in Downtown Brooklyn’s A+ urban core, the property benefits from deep renter demand supported by high neighborhood incomes and extensive amenities, according to WDSuite’s CRE market data. Neighborhood occupancy trends and strong local services suggest durable leasing fundamentals for investors evaluating the area, noting these statistics reflect neighborhood conditions rather than this specific asset.
Downtown Brooklyn scores competitively among New York–Jersey City–White Plains metro neighborhoods (ranked 29 out of 889 by WDSuite), with top-tier amenity access. Restaurants, cafes, parks, groceries, and pharmacies all track in the top national percentiles, indicating strong walkable convenience that typically supports leasing velocity and retention. Average school ratings sit at the highest national percentile, a positive signal for household stability and longer-term tenancy.
The neighborhood’s housing stock skews older on average (1957), while this asset’s 2013 construction is newer than much of the competitive set—an advantage for near-term competitiveness and reduced immediate capital planning compared with older inventory. Renovations or system updates may still be considered over the next ownership cycle to maintain positioning versus ongoing deliveries and well-renovated peers.
Renter-occupied share in the immediate neighborhood sits in the mid-40% range, indicating a balanced base of renters and owners; at the broader 3-mile radius, renter concentration is higher, creating a deeper tenant pool for multifamily assets. Within that same 3-mile view, recent population and household growth, paired with rising incomes, point to a larger tenant base and support for occupancy stability and renewal probability.
Elevated home values locally reinforce reliance on multifamily housing and support pricing power for well-positioned units, while the neighborhood rent-to-income profile indicates manageable affordability pressure relative to incomes. Taken together, these dynamics—walkable amenities, strong schools, and a deepening renter pool—suggest durable demand drivers in line with investor expectations for core Brooklyn locations, based on commercial real estate analysis from WDSuite.
Safety metrics for the neighborhood track below national averages, with WDSuite indicating higher relative levels of both property and violent offenses versus nationwide benchmarks. Recent year-over-year data show a material decline in estimated property offense rates, which is a constructive directional trend, though investors should continue to underwrite prudent security measures and operational oversight.
Within the New York–Jersey City–White Plains metro, the neighborhood’s crime ranking reflects a comparatively weaker position (ranked 371 out of 889), framing safety as a monitored risk factor rather than a disqualifier. For underwriting, consider the property’s newer vintage, controlled access, and professional management practices as mitigants alongside continued neighborhood-level trend monitoring.
The employment base nearby is anchored by financial services and corporate headquarters that broaden the white-collar renter pool and support retention through commute convenience. Key employers include AIG, S&P Global, Guardian Life, Robert Half International, and AmTrust Financial Services.
- Aig — insurance (1.1 miles) — HQ
- S&P Global — financial information (1.1 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (1.2 miles) — HQ
- Robert Half International — staffing & consulting (1.3 miles)
- Amtrust Financial Services — insurance (1.3 miles) — HQ
Built in 2013 with 63 units, the property enters an older-core submarket with a relative quality edge versus much of the neighborhood’s pre-1960 stock. Walkable, top-percentile amenities and strong school ratings underpin renter appeal, while high home values in the area tend to sustain reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy trends and high incomes point to durable demand, with newer assets like this one positioned to compete effectively on finishes and operations.
Within a 3-mile radius, household counts and incomes have trended upward and are projected to continue growing, expanding the tenant base and supporting lease-up and renewals. While safety metrics trail national benchmarks and neighborhood occupancy sits below metro leaders, the location’s employment access, amenity depth, and newer vintage provide a balanced, long-term thesis focused on operational execution and selective value-add to preserve competitive standing.
- Newer 2013 vintage in an older-core submarket supports competitive positioning and moderated near-term capex.
- Top-percentile amenities and strong schools enhance leasing velocity and renewal potential.
- High local home values reinforce renter reliance on multifamily, supporting pricing power for well-run assets.
- Expanding 3-mile renter pool and income growth support occupancy stability and long-term demand.
- Risks: safety metrics lag national benchmarks and neighborhood occupancy trails metro leaders; requires disciplined operations and underwriting.