| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 83rd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 257 15th St, Brooklyn, NY, 11215, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
257 15th St Brooklyn Multifamily in High-Demand Core
Positioned in an urban core pocket with deep renter demand and strong neighborhood amenities, this 2003, 24-unit asset benefits from stable occupancy at the neighborhood level, according to CRE market data from WDSuite.
This Urban Core neighborhood in Brooklyn rates in the top quartile among 889 metro neighborhoods, supported by dense daily-needs access and strong lifestyle convenience. Amenity availability, restaurants, parks, groceries, and pharmacies all benchmark at the top of national comparisons, which helps leasing velocity and resident retention for well-managed multifamily assets.
Neighborhood housing dynamics indicate a sizable renter base: renter-occupied share is high for the metro and ranks in the upper range nationally, pointing to depth of demand for smaller units and studios. Neighborhood occupancy is in the low 90s and has been steady, which supports income visibility for operators focused on renewals and turn minimization.
The property’s 2003 vintage is materially newer than the neighborhood’s older housing stock, offering relative competitiveness versus prewar inventory. Investors should still plan for routine modernization of common areas and building systems typical for early-2000s construction, but the vintage positioning reduces immediate heavy CapEx risk compared with much older stock.
Within a 3-mile radius, demographics show a large population base with rising household counts and a shift toward smaller average household sizes over the outlook period. This points to renter pool expansion and sustained demand for professionally managed apartments. Elevated ownership costs in the neighborhood reinforce reliance on rental housing, while rent-to-income levels indicate manageable affordability pressure that can support renewal retention with disciplined lease management, based on WDSuite’s commercial real estate analysis.
School ratings trend above national averages for urban settings, adding to neighborhood livability. Together with high amenity density and commute optionality across Brooklyn and Manhattan job centers, these fundamentals underpin durable multifamily demand.
Neighborhood safety indicators are mixed in a metro context. The area’s crime rank sits at 189 out of 889 metro neighborhoods, indicating it is not among the metro’s safest clusters; nationally, it trends below the median for safety. However, recent trend data shows improvement: both violent and property offense rates have decreased year over year, with declines that compare favorably to nationwide improvement trends. Investors should underwrite standard urban operations—access control, lighting, and resident screening—while recognizing that the downward trajectory can support leasing and retention over time.
Proximity to major employers across finance, insurance, and corporate services supports a deep commuter tenant base and helps stabilize leasing. Nearby anchors include Dr Pepper Snapple Group, S&P Global, Guardian Life, Robert Half International, and AIG.
- Dr Pepper Snapple Group — corporate offices (1.9 miles)
- S&P Global — financial information services (2.9 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.9 miles) — HQ
- Robert Half International — professional staffing (3.0 miles)
- AIG — insurance (3.0 miles) — HQ
257 15th St offers a 2003-built, 24-unit footprint in a Brooklyn neighborhood characterized by high amenity density, strong renter concentration, and steady neighborhood occupancy. Elevated for-sale home values in the immediate area reinforce reliance on rental housing, supporting pricing power and renewal retention for well-run assets. According to CRE market data from WDSuite, the neighborhood sits near the top of metro rankings for overall quality and daily-needs access, factors that historically correlate with leasing stability.
Demographics aggregated within a 3-mile radius indicate a large, affluent consumer base with rising households and smaller household sizes over the next five years—favorable for studios and smaller one-bedrooms. The asset’s newer vintage versus surrounding prewar stock provides competitive differentiation, while standard early-2000s system updates should be budgeted as part of ongoing capital planning. Key underwriting considerations include typical Urban Core operating practices and attention to safety trends, which have been improving.
- High renter-occupied share and steady neighborhood occupancy support income durability
- 2003 vintage competes well versus older local stock; plan for routine modernization
- Top-tier amenity access and proximity to Manhattan job centers aid leasing velocity
- 3-mile demographics point to household growth and a larger tenant base
- Risk: urban safety ranks below metro leaders; trends are improving but warrant active management