| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 56th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 291 Bainbridge St, Brooklyn, NY, 11233, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2012 |
| Units | 23 |
| Transaction Date | 2008-01-14 |
| Transaction Price | $500,000 |
| Buyer | CITYWIDE SUPPORTIVE HOUSING DEVELOPMENT |
| Seller | THE HOUSE OF GOD WHICH IS THE CHURCH OF |
291 Bainbridge St Brooklyn Multifamily Investment, 23 Units
Neighborhood occupancy sits in the mid-90s with a high renter concentration, supporting steady leasing and retention according to CRE market data from WDSuite. Amenity access and strong local income trends enhance day-to-day livability and underpin durable demand at the neighborhood level.
Located in Brooklyn’s Urban Core, 291 Bainbridge St benefits from a neighborhood that ranks 86 out of 889 metro neighborhoods (A rating), placing it among the stronger sub-areas for investors screening for renter demand and services. Amenity density is a clear strength — groceries, restaurants, cafes, parks, and pharmacies benchmark in the top percentiles nationally — which tends to support leasing velocity and day-to-day convenience for residents.
The neighborhood’s occupancy is approximately 95% and has trended up over the past five years, indicating resilient housing demand relative to national patterns (71st percentile by WDSuite’s CRE market data). Renter-occupied housing accounts for roughly 72% of units in the neighborhood, signaling a deep tenant base that typically supports stable absorption and renewal activity for multifamily assets.
Construction year averages in the neighborhood skew older (average 1931), while the property was built in 2012. Newer vintage relative to nearby stock can enhance competitive positioning and reduce near-term capital expenditures, though investors should still plan for periodic system updates and modernization to maintain rent competitiveness.
Demographic statistics aggregated within a 3-mile radius indicate recent population growth alongside a faster increase in households, with projections calling for further household gains over the next five years. This trend points to a larger renter pool and supports occupancy stability. Elevated home values in the neighborhood, paired with strong value-to-income ratios, suggest a high-cost ownership market that tends to reinforce renter reliance on multifamily housing, supporting pricing power while requiring attentive lease management where rent-to-income pressures may emerge.
School ratings in the area track close to national mid-range readings, which can be adequate for a broad renter profile. Overall, the combination of strong amenity access, rising household counts, and a high renter share positions this location competitively among Brooklyn options for workforce and professional renters.
Safety indicators for the neighborhood are mixed. Compared with neighborhoods nationwide, crime benchmarks below national percentiles for safety, reflecting elevated incident rates; within the New York–Jersey City–White Plains metro, the neighborhood’s rank is on the less favorable side (373 out of 889, where lower ranks reflect higher crime). Recent trends, however, show year-over-year improvement with declines in both violent and property offenses, which investors can monitor as a potential positive trajectory.
For underwriting, frame safety as a comparative factor rather than a block-level condition, and align operating plans (lighting, access control, community engagement) with tenant expectations. Monitoring trend direction and relative standing versus peer neighborhoods can help calibrate marketing, staffing, and security budgets.
Within roughly four to five miles, several major corporate offices — primarily in finance and related services — expand the commuter employment base and support renter demand through short transit commutes and job density. The following employers are among the nearest concentrations relevant to leasing stability and retention.
- Prudential — insurance (3.97 miles)
- Aig — insurance (4.53 miles) — HQ
- S&P Global — financial information & analytics (4.66 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (4.70 miles) — HQ
- Amtrust Financial Services — insurance (4.73 miles) — HQ
291 Bainbridge St offers a 2012-vintage, 23‑unit footprint in a Brooklyn neighborhood that scores strongly for amenities and renter concentration. Neighborhood occupancy is high and trending upward, and elevated home values point to a high‑cost ownership environment that typically sustains multifamily demand and supports pricing discipline. According to CRE market data from WDSuite, NOI per unit benchmarks near the top of national comparisons at the neighborhood level, aligning with an investment narrative centered on stable tenancy and operational performance.
Demographic statistics aggregated within a 3‑mile radius show recent population growth and a faster rise in households, with projections indicating additional expansion — a setup that implies a larger tenant base over time. The asset’s newer vintage relative to a predominantly prewar housing stock can reduce near‑term capex needs and bolster competitive positioning, while investors should remain attentive to safety perceptions and rent‑to‑income pressures when calibrating renewals and marketing.
- Amenity‑rich Urban Core location with high renter concentration supporting steady absorption
- 2012 construction offers relative competitive edge versus older local stock and may temper near‑term capex
- Household growth within 3 miles and high-cost ownership market reinforce multifamily demand and retention
- Neighborhood‑level NOI per unit benchmarks strong, supporting an operational stability thesis
- Risks: below‑average safety benchmarks nationally and potential affordability pressure require focused lease management