| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 78th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 341 Eastern Pkwy, Brooklyn, NY, 11216, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2009 |
| Units | 66 |
| Transaction Date | 2016-10-06 |
| Transaction Price | $52,000,000 |
| Buyer | PACOLET BROOKLYN EPW LLC |
| Seller | EASTERN PARKWAY PARTNERS LLC |
341 Eastern Pkwy Brooklyn 66-Unit Multifamily Investment
Positioned in an amenity-rich Brooklyn urban core, this 2009-vintage asset benefits from a deep renter base and steady neighborhood occupancy, according to WDSuite’s CRE market data. Neighborhood occupancy refers to the surrounding area, not this specific property.
Located in Brooklyn’s Urban Core, the neighborhood around 341 Eastern Pkwy is ranked 34 out of 889 metro neighborhoods (A+), placing it firmly among New York–Jersey City–White Plains’ top performers for overall livability and investment fundamentals. Amenity access is a standout, with restaurants, grocery, parks, pharmacies, cafés, and childcare density in the top quartile nationally, supporting lifestyle convenience and leasing appeal.
For renters, the area shows strong depth: the share of renter-occupied housing units is high (near the 98th percentile nationally), which speaks to a broad tenant base and supports demand resilience for multifamily. Neighborhood occupancy trends sit around the national middle, suggesting stable day-to-day operations rather than outsized vacancy risk. At the neighborhood level, average NOI per unit ranks 12 out of 889 locally and sits near the top nationally, an indicator of competitive rent and expense dynamics among nearby multifamily stock (based on CRE market data from WDSuite).
Asset vintage is a relative differentiator: with a 2009 construction year versus much older local housing stock (average 1941), the property competes well against legacy buildings and may require more targeted mid-life systems upgrades rather than major foundational CapEx. This positioning can help with leasing velocity and retention against older comparables while leaving room for selective modernization to drive rent premiums.
Demographic statistics aggregated within a 3-mile radius indicate modest recent population growth and a meaningful expansion in household counts, with forecasts pointing to continued renter pool expansion by 2028. Elevated home values and a high value-to-income ratio in the immediate neighborhood suggest a high-cost ownership market, which tends to sustain reliance on rental housing and can reinforce pricing power; rent-to-income sits closer to national mid-range, implying manageable affordability pressure in lease management. Average school ratings track near the national middle, aligning with an urban, amenity-led appeal rather than school-driven demand. This mix supports a balanced commercial real estate analysis centered on convenience, employment access, and sustained renter demand.
Safety metrics warrant a balanced view. Compared with neighborhoods nationwide, the area scores below the national median on safety, with violent and property offense measures in lower national percentiles; however, year-over-year trends show improvement, with notable declines in both violent and property offense estimates. Investors should consider this as a monitoring item rather than a thesis driver, factoring in on-site security practices and standard risk management.
These indicators are neighborhood-level, not block-specific, and conditions can vary by street and building. Framing risk comparatively and watching multi-year directionality is prudent, as recent improvement trends are a constructive signal even if absolute levels remain below national benchmarks.
Nearby corporate offices provide a strong white-collar employment base that supports renter demand and commute convenience, particularly in finance and professional services. The bullets below highlight the closest employers most likely to influence leasing stability in this submarket.
- Dr Pepper Snapple Group — beverage corporate offices (3.2 miles)
- Aig — insurance (3.5 miles) — HQ
- S&P Global — financial information (3.5 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.6 miles) — HQ
- Robert Half International — professional staffing (3.7 miles)
341 Eastern Pkwy offers a 66-unit, 2009-vintage footprint in an A+ Brooklyn neighborhood with top-tier amenity access and a deep pool of renter-occupied housing. The asset competes favorably against older local stock while likely requiring targeted mid-life systems modernization, not wholesale rebuilds. Neighborhood occupancy sits around the national mid-range, and elevated ownership costs locally tend to reinforce sustained multifamily demand; these dynamics are consistent with findings from WDSuite’s commercial real estate analysis of the submarket.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, indicating a larger tenant base over the next several years. Combined with dense nearby employment in finance and professional services, the property is positioned for steady leasing and pricing power relative to older comparables, while safety metrics remain a watch item given below-median national positioning despite recent improvement.
- 2009 vintage competes well versus older neighborhood stock; plan for selective mid-life systems upgrades.
- Deep renter-occupied housing concentration supports demand depth and retention.
- Amenity-rich location and nearby white-collar employers underpin leasing velocity and pricing power.
- Watch items: below-median national safety positioning and mid-range school ratings; maintain prudent risk management and on-site measures.