| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 58th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 198 Johnson Ave, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1981 |
| Units | 82 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
198 Johnson Ave Brooklyn Multifamily in Amenity-Rich Core
Neighborhood occupancy remains elevated and has trended upward, supported by a very high renter-occupied share and dense amenities, according to CRE market data from WDSuite.
Positioned in Brooklyn’s Urban Core, the asset benefits from a neighborhood rated A and competitive among New York–Jersey City–White Plains neighborhoods, landing in the top quartile among 889 metro neighborhoods. Amenity access is a standout: restaurants and grocery options rank at the top nationally, with strong densities of cafes, parks, pharmacies, and childcare supporting day-to-day convenience and leasing velocity.
Demand fundamentals are supportive for multifamily investors. Neighborhood occupancy is high and has increased over the past five years, and the renter-occupied share of housing units is very high (approximately nine in ten), indicating a deep tenant base that can underpin renewal rates and absorption. Median asking rents in the area sit well above national norms and have grown meaningfully in recent years; with a rent-to-income ratio near 0.30, operators should plan for prudent lease management to balance pricing power and retention.
Within a 3-mile radius, population and household counts have grown over the past five years, with additional growth projected, and average household size is trending lower — dynamics that generally expand the renter pool and support occupancy stability. Income levels have also risen, reinforcing depth for market-rate product. According to WDSuite’s CRE market data, neighborhood NOI per unit performance sits in the top tier nationally, aligning with the strong revenue environment seen across prime Brooklyn submarkets.
Built in 1981, the property is newer than the neighborhood’s average vintage (1960s stock), which can be an advantage versus older buildings. That said, systems are no longer new, so capital planning for modernization and selective upgrades can enhance competitiveness. School ratings in the immediate area trend below national averages; this typically matters more for family-oriented unit mixes than studios and one-bedrooms, but it is a consideration for resident profile and marketing.
Safety indicators reflect an urban environment with crime levels that are elevated versus national norms, particularly for violent offenses. However, year-over-year trends show double-digit declines in both violent and property offense rates, according to WDSuite, suggesting conditions have been improving. Within the New York–Jersey City–White Plains metro, the neighborhood is competitive among 889 neighborhoods rather than at the bottom of the distribution.
For investors, the takeaway is to underwrite with standard urban operating practices (lighting, access control, and resident engagement) while recognizing that recent trendlines have been favorable.
Proximity to major employers supports renter demand and commute convenience, notably across airlines, utilities, and blue-chip headquarters including JetBlue Airways, Consolidated Edison, AIG, and Pfizer.
- Jetblue Airways — airline HQ (3.05 miles) — HQ
- Con Edison Distribution Engineering — utilities engineering (3.12 miles)
- Consolidated Edison — utilities (3.13 miles) — HQ
- Aig — insurance (3.36 miles) — HQ
- Pfizer — pharmaceuticals (3.44 miles) — HQ
This 1981-vintage, 82-unit asset sits in an A‑rated Urban Core neighborhood where renter demand is reinforced by dense amenities, high neighborhood occupancy, and a very large share of renter-occupied housing units. Elevated home values in the area point to a high-cost ownership market, which can sustain reliance on multifamily housing and support pricing power when paired with thoughtful lease management.
Relative to much of the surrounding 1960s-era stock, the vintage offers competitive positioning while still warranting ongoing systems modernization and targeted upgrades. Population and households within a 3‑mile radius have grown and are projected to keep rising, supporting a larger tenant base and occupancy stability. According to WDSuite’s multifamily property research, neighborhood operating performance ranks among the strongest nationally, consistent with the revenue profile of amenity-rich Brooklyn locations.
- High neighborhood occupancy and deep renter-occupied housing base underpin demand and renewals
- Amenity-dense Urban Core location supports leasing velocity and long-term renter appeal
- 1981 vintage competes well versus older area stock; targeted modernization can drive value-add upside
- Underwrite for affordability pressure and urban operating considerations given rent levels and safety context
- Exposure to multiple nearby corporate anchors supports tenant retention and steady absorption