| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 Georgia Ave, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1973 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
311 Georgia Ave Brooklyn Multifamily Investment Outlook
Neighborhood occupancy has trended stable and the renter base is deep, according to WDSuite’s CRE market data, supporting steady leasing dynamics for this 1973 vintage asset in Kings County. Location fundamentals and a high-cost ownership market point to sustained renter demand rather than rapid turnover.
Situated in Brooklyn’s Urban Core, the property benefits from neighborhood fundamentals that favor multifamily demand. Neighborhood occupancy is in the upper half of U.S. areas and has improved over the past five years, and the share of housing units that are renter-occupied is high for the metro (69%+), signaling depth in the tenant base and potential lease-up resilience. Average net operating income per unit in the neighborhood ranks in the top quintile nationally, suggesting competitive operating performance relative to many U.S. submarkets, based on CRE market data from WDSuite.
Daily-needs access is a relative strength: grocery, parks, and pharmacies are dense for an urban neighborhood, with national standings near the top decile. Restaurant density also rates well nationally, while cafes are less concentrated immediately nearby. These amenity patterns generally support retention and resident convenience, even if lifestyle offerings vary block to block.
The property’s 1973 construction is newer than the neighborhood’s older housing stock (average vintage mid-1930s). Investors should plan for ongoing system upgrades typical of 1970s buildings, but the vintage also creates potential for targeted value-add (interiors, common areas) to improve rent positioning versus prewar inventory.
Within a 3-mile radius, demographics indicate gradual population growth and an increase in households, with forecasts pointing to further expansion and smaller average household sizes. A larger renter pool and elevated home values in the area reinforce reliance on multifamily housing, which can underpin occupancy stability and pricing power. At the same time, rent-to-income ratios suggest some affordability pressure, requiring disciplined lease management and renewal strategies.
Education indicators in the neighborhood trail national norms, which can matter for specific tenant segments; however, this is offset by proximity to employment centers and transit-rich corridors across Brooklyn and Manhattan, supporting broad-based renter demand.
Safety outcomes in the neighborhood track below the metro median, with ranks indicating comparatively higher crime than many New York–area neighborhoods. Nationally, the area falls in lower safety percentiles. That said, recent trend data shows improvement, with both violent and property offense rates declining year over year, which investors can monitor as part of ongoing risk assessment.
Framing for investors: this submarket’s safety profile warrants conservative underwriting for security, lighting, and access controls, alongside community engagement. Continued downward trends would be a positive signal, but assumptions should reflect that current conditions compare less favorably to many neighborhoods in the region of 889 tracked areas.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience. Key nodes include Prudential, JetBlue Airways, AIG, S&P Global, and Guardian Life.
- Prudential — financial services offices (2.4 miles)
- Jetblue Airways — airline corporate offices (6.1 miles) — HQ
- Aig — insurance (6.2 miles) — HQ
- S&P Global — financial data & ratings (6.4 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.4 miles) — HQ
311 Georgia Ave offers a scale multifamily opportunity in Brooklyn with neighborhood metrics that favor renter demand and occupancy stability. The area’s high renter-occupied share and steady neighborhood occupancy, combined with dense daily-needs amenities, support leasing durability. Elevated ownership costs locally further reinforce reliance on rental housing. The 1973 vintage suggests both ongoing capital planning for building systems and the potential to unlock value through selective renovations and repositioning. According to CRE market data from WDSuite, operating performance indicators for the neighborhood compare well nationally, while forward-looking demographics within a 3-mile radius point to a gradually expanding renter pool.
Key considerations include a safety profile that trails many metro peers and affordability pressure implied by rent-to-income dynamics, both of which argue for prudent underwriting and active asset management. Even so, proximity to major employment centers across Brooklyn and Manhattan, combined with strong neighborhood amenity access, underpins a balanced long-term thesis.
- High renter-occupied share supports depth of tenant demand and lease-up stability
- Dense grocery, park, and pharmacy access aids retention and everyday convenience
- 1973 vintage allows targeted value-add with planned system upgrades
- Employment access to major corporate offices supports steady renter inflows
- Risks: below-median safety and affordability pressure require conservative underwriting and active management