| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 74th | Good |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 218 Myrtle Ave, Brooklyn, NY, 11201, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 97 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
218 Myrtle Ave Brooklyn Multifamily Investment
2008 vintage in a renter-heavy Urban Core pocket supports durable demand and competitive positioning relative to older nearby stock, according to WDSuite s CRE market data. Neighborhood occupancy trends and elevated household incomes indicate pricing power with prudent lease management.
Situated in Brooklyn s Urban Core, 218 Myrtle Ave benefits from dense amenities and strong neighborhood fundamentals. The area ranks 41st among 889 metro neighborhoods (A-rated), signaling performance that is competitive among New York Jersey City White Plains neighborhoods. Cafes, restaurants, parks, pharmacies, childcare, and grocery density all sit near the top nationally, supporting resident convenience and day-to-day livability that helps with retention.
The property s 2008 construction is newer than the neighborhood s average vintage (1960s era), which generally reduces near-term capital needs versus older comparables and can aid leasing versus legacy stock. Select modernization or repositioning could still be considered to keep pace with premium product nearby.
Renter-occupied share is high at the neighborhood level, indicating a deep tenant base for multifamily operators. Neighborhood occupancy is in the low-90s and broadly stable over the past five years, which supports income durability in normal market conditions based on CRE market data from WDSuite.
Within a 3-mile radius, demographics point to a larger and more affluent renter pool over time: population and households have grown in recent years, with households projected to expand further as average household size trends lower. Elevated home values in the immediate area signal a high-cost ownership market, which typically sustains rental demand and can support lease retention. At the same time, rent-to-income levels remain manageable locally, helping limit affordability pressure and supporting occupancy stability.
School ratings in the neighborhood track below national averages, which can skew the demand mix toward young professionals and smaller households rather than families seeking top-rated schools. For multifamily investors, this can translate to steadier demand for studio and one-bedroom product and urban lifestyle amenities.
Safety indicators for the neighborhood are mixed. Based on national comparisons, the area sits below the national median for safety, while at the metro level it ranks 393rd out of 889 neighborhoods a position that places it below many New York Jersey City White Plains peers. Recent trend data shows double-digit year-over-year declines in both property and violent offense rates, suggesting a directional improvement that investors should continue to monitor with updated readings.
For underwriting, a cautious approach is warranted: emphasize operational best practices, security features, and resident engagement, and track trendlines rather than relying on single-year snapshots.
Proximity to major finance and insurance employers underpins strong commuter demand and supports retention for workforce and professional renters. Nearby anchors include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- Aig insurance & financial services (1.6 miles) HQ
- S&P Global financial data & ratings (1.7 miles) HQ
- Guardian Life Ins. Co. of America insurance (1.7 miles) HQ
- Amtrust Financial Services insurance (1.8 miles) HQ
- Assurant insurance (1.9 miles) HQ
This 97-unit, 2008-vintage asset sits in an A-rated Brooklyn neighborhood with top-tier amenity access and a high renter concentration, supporting a durable tenant base and leasing velocity. Neighborhood occupancy trends in the low-90s, combined with elevated local incomes and a high-cost ownership landscape, point to stable demand and measured pricing power, based on CRE market data from WDSuite.
Within a 3-mile radius, recent and projected household growth alongside smaller average household sizes indicate a growing pool of renters. Newer construction relative to much of the surrounding stock can reduce near-term capex and create value-add potential through targeted upgrades to capture rent premiums while maintaining competitive positioning.
- Urban Core location with nationally strong amenity density supports retention and lease-up
- 2008 vintage offers relative capex relief versus older neighborhood stock with selective upgrade upside
- High renter-occupied share and household growth (3-mile radius) expand the tenant base and support occupancy stability
- Elevated ownership costs locally reinforce multifamily demand and pricing discipline
- Risk: below-national-median safety metrics warrant conservative underwriting and active property management