| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 55th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29 MacDonough St, Brooklyn, NY, 11216, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 25 |
| Transaction Date | 2011-08-22 |
| Transaction Price | $600,000 |
| Buyer | 29 MACDONOUGH STREET REALTY LLC |
| Seller | KINGSTON HEIGHTS APARTMENT LP |
29 MacDonough St Brooklyn Multifamily Investment
2013-vintage, 25-unit asset positioned in a renter-heavy Brooklyn neighborhood where ownership costs are elevated and occupancy trends are steady, according to WDSuite’s CRE market data. Neighborhood statistics cited reflect the surrounding area, not the property’s own performance.
Rated A and ranked 103 out of 889 within the New York–Jersey City–White Plains metro, the neighborhood stands above the metro median and competitive for urban-core multifamily. Amenity access is a clear strength: restaurants, cafes, groceries, parks, and pharmacies all score in the top national percentiles, supporting day-to-day livability and leasing appeal for workforce and professional renters.
Renter-occupied housing represents a high share of units in the neighborhood (near the top of the metro distribution), indicating a deep tenant base. Neighborhood occupancy has trended stable and sits around the national midpoint, a setup that typically supports consistent leasing while still requiring active management on renewals and pricing.
Home values in the area are elevated (top percentile nationally), which reinforces renter reliance on multifamily housing and can support pricing power. At the same time, rent-to-income readings signal some affordability pressure, suggesting disciplined lease management and concessions strategy may be important for retention.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, pointing to a larger tenant base over the next few years. This growth, coupled with strong neighborhood amenities and an urban-core location, underpins demand fundamentals for multifamily investors conducting commercial real estate analysis.
Safety metrics for the neighborhood trail national averages, with violent and property offense measures positioned in lower national percentiles. Within the metro, the neighborhood’s crime ranking is around the middle of 889 neighborhoods, indicating conditions that are broadly comparable to metro norms rather than outliers on either end.
Recent trends show improvement, with estimated violent offense rates declining year over year. Investors typically account for this by emphasizing on-site security practices, lighting, and resident engagement, while monitoring whether the downward trend persists relative to nearby Brooklyn sub-areas.
Nearby Midtown and Downtown employment anchors provide a diverse white-collar base that supports renter demand and lease retention, particularly for residents prioritizing short commutes. Notable nearby employers include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Dr Pepper Snapple Group.
- AIG — insurance (3.6 miles) — HQ
- S&P Global — financial information (3.7 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.7 miles) — HQ
- Amtrust Financial Services — insurance (3.8 miles) — HQ
- Dr Pepper Snapple Group — beverages (3.8 miles)
29 MacDonough St offers a newer 2013 construction profile relative to a neighborhood dominated by prewar stock, supporting competitive positioning versus older assets while leaving room for targeted modernization over the next cycle. The surrounding area scores well for amenities and maintains stable occupancy at the neighborhood level, with a high concentration of renter-occupied units indicating depth in the tenant pool.
Elevated ownership costs locally reinforce sustained multifamily demand, and population and household growth within a 3-mile radius point to ongoing renter pool expansion. According to CRE market data from WDSuite, neighborhood performance is above the metro median and nationally strong on amenity access, which can support leasing velocity and retention for well-managed properties.
- 2013 vintage in a prewar neighborhood — competitive today with scope for value-add over time
- High renter-occupied share supports tenant base depth and leasing stability
- Top-tier amenity access and proximity to major employers support demand and retention
- Elevated home values reinforce reliance on rentals, aiding pricing power for well-managed assets
- Risks: safety metrics below national averages and affordability pressure require disciplined operations