| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 26th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 355 Chester St, Brooklyn, NY, 11212, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1974 |
| Units | 109 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
355 Chester St, Brooklyn Multifamily with Stable Renter Base
Neighborhood occupancy is resilient and renter demand is deep, according to WDSuite’s CRE market data, supporting steady leasing dynamics in an Urban Core location. Elevated ownership costs in the area further sustain reliance on multifamily housing.
The property sits within Brooklyn’s Urban Core where daily needs are close by and renter demand is durable. Neighborhood occupancy trends are competitive among New York–Jersey City–White Plains metro neighborhoods (ranked 291 of 889), and the area’s renter concentration is high, signaling a large tenant base for multifamily operators. Based on CRE market data from WDSuite, grocery, pharmacy, parks, and childcare densities are each top quartile nationally, while cafes are limited — a tradeoff investors should weigh when assessing lifestyle appeal versus essentials access.
Local amenity positioning is competitive among 889 metro neighborhoods (amenity rank 277), with restaurants above national medians but fewer cafes than peer areas. Average school ratings in the neighborhood track below national norms, which may modestly temper appeal for family renters; however, strong childcare and park access can help support day-to-day livability and retention for households prioritizing proximity to services.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding, indicating a larger tenant base over time. Household incomes in this radius have risen, and rents have trended upward while remaining supported by a majority renter-occupied housing stock. For investors, this combination points to demand that can support occupancy stability, with lease management needed where rent-to-income pressure is elevated.
The asset’s 1974 vintage is newer than the neighborhood’s older housing stock (average vintage 1944), providing relative competitiveness versus prewar buildings. That said, systems and finishes may still warrant targeted modernization to capture value-add upside and meet current renter expectations.
Safety conditions are mixed relative to peers. The neighborhood’s crime profile sits around the metro middle (ranked 442 out of 889 New York–Jersey City–White Plains neighborhoods), and it underperforms national safety percentiles. Recent trend data from WDSuite points to year-over-year declines in both violent and property offense rates, which is a constructive directional signal, but investors should underwrite with conservative assumptions and emphasize on-site security and lighting in capital plans where appropriate.
Nearby finance and corporate services employers help anchor local job access and can support renter demand and retention. Key names include Prudential, Dr Pepper Snapple Group, AIG, S&P Global, and Guardian Life.
- Prudential — financial services (3.1 miles)
- Dr Pepper Snapple Group — beverages (5.8 miles)
- Aig — insurance (5.8 miles) — HQ
- S&P Global — ratings & data (5.9 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.0 miles) — HQ
355 Chester St offers investors exposure to a renter-heavy Urban Core pocket of Brooklyn where neighborhood occupancy is competitive within the metro and daily-needs amenities are strong. Elevated home values in the area point to a high-cost ownership market that reinforces reliance on rental housing, supporting tenant retention and lease-up velocity when positioned correctly. The building’s 1974 vintage is newer than much of the surrounding stock, suggesting relative competitiveness versus older assets, though selective modernization can unlock value-add upside.
According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is high and occupancy trends are above national medians, while 3-mile demographic patterns show population and household growth that can widen the renter pool over time. Investors should balance these strengths against affordability pressure (higher rent-to-income ratios locally) and below-average school ratings, which may require thoughtful unit mix, finish level, and leasing strategies to sustain absorption and retention.
- Renter-heavy neighborhood supports depth of demand and occupancy stability
- 1974 vintage newer than local stock, with clear value-add modernization potential
- Strong access to daily-needs amenities (grocery, pharmacy, parks, childcare)
- Expanding 3-mile population and households point to a growing renter base
- Risks: affordability pressure and weaker school ratings require disciplined lease and capital planning