| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 80th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 356 Lexington Ave, Brooklyn, NY, 11216, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1972 |
| Units | 77 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
356 Lexington Ave, Brooklyn — Urban Core Multifamily Thesis
Neighborhood metrics point to durable renter demand and steady occupancy, according to CRE market data from WDSuite, with figures reflecting the surrounding neighborhood rather than the property itself.
Situated in Brooklyn an Urban Core setting the property benefits from a deep amenity base. The neighborhood ranks 29 of 889 in the New York-Jersey City-White Plains metro for overall amenities, placing it in the top quartile metro-wide and among the strongest nationally. Dense grocery, pharmacy, park, cafe, and restaurant options support day-to-day convenience that typically bolsters leasing velocity and retention.
Housing fundamentals are supportive for multifamily. Neighborhood occupancy is high and has edged up over the past five years, reinforcing stability at the submarket level. The share of renter-occupied housing units is elevated, signaling a sizable tenant base and depth of demand for professionally managed apartments. Median contract rents are above many U.S. neighborhoods while the rent-to-income ratio indicates manageable affordability pressures for the area, a constructive backdrop for renewals and pricing discipline.
Demographic statistics aggregated within a 3-mile radius show recent population growth with a faster increase in households, implying smaller household sizes and a larger renter pool over time. Forward-looking projections indicate additional gains in households and incomes, which generally support absorption, lease retention, and mid-cycle renovation strategies.
Ownership costs in the neighborhood are high relative to income (with home values near the top of national comparisons), which tends to sustain reliance on rental housing and support pricing power for well-located assets. Average school ratings are mid-range for the metro, adequate for a broad tenant profile, while amenity access and commute connectivity are the primary lifestyle drivers for this location.
Safety conditions should be evaluated with care. Compared with neighborhoods nationwide, the area trends below average on safety, while within the New York-Jersey City-White Plains metro its crime standing is mid-pack (ranked 444 of 889). Year over year, both violent and property offense estimates have improved, indicating a recent downward trend in reported incidents. Investors typically underwrite with conservative assumptions and emphasize lighting, access control, and property management practices to support resident comfort and retention.
Proximity to major insurance and financial services headquarters supports a strong professional renter base and commute convenience. Nearby anchors include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- Aig insurance (3.3 miles) HQ
- S&P Global financial information (3.4 miles) HQ
- Guardian Life Ins. Co. of America insurance (3.5 miles) HQ
- Amtrust Financial Services insurance (3.5 miles) HQ
- Assurant insurance (3.5 miles) HQ
356 Lexington Ave offers exposure to a high-amenity Brooklyn neighborhood with a large renter-occupied housing base and historically steady neighborhood occupancy. The property built in 1972 is newer than much of the area 201940s average stock, suggesting relative competitiveness versus older assets while still warranting targeted system upgrades and modernization to enhance rent positioning. According to CRE market data from WDSuite, the neighborhood 2019s high-cost ownership context and deep amenity access underpin resilient multifamily demand.
Within a 3-mile radius, recent population growth and a faster rise in households point to renter pool expansion, while forward projections indicate continued income gains supportive for absorption and renewal outcomes. Elevated ownership costs in the immediate area reinforce reliance on rental housing, and amenity density supports leasing and resident retention for professionally managed assets.
- High neighborhood occupancy and large renter-occupied share support demand depth and lease stability.
- 1972 vintage is newer than much of the local stock, with value-add potential through targeted upgrades.
- High-cost ownership market sustains renter reliance, aiding pricing power for well-managed units.
- Amenity-rich urban location enhances leasing velocity and resident retention.
- Risk: Safety metrics trail national norms; prudent security and management practices should be budgeted.