| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 15th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Snediker Ave, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2000 |
| Units | 53 |
| Transaction Date | 2016-12-31 |
| Transaction Price | $2,008,000 |
| Buyer | HELP DEVELOPMENT CORP |
| Seller | HOUSING OUTREACH FUND VIII LIMITED PARTN |
360 Snediker Ave, Brooklyn Multifamily Investment
Renter demand in the surrounding neighborhood has been durable, with occupancy and renter concentration indicating a deep tenant base, according to WDSuite’s CRE market data. This asset’s scale positions it to capture steady leasing in a high-cost ownership pocket of Kings County.
Located in Brooklyn’s Urban Core, the property benefits from neighborhood fundamentals that support multifamily leasing. Neighborhood occupancy is strong and has trended higher over the past five years, and the share of renter-occupied housing units is elevated—signals of stable depth in the tenant pool (neighborhood metrics, not property-specific), based on CRE market data from WDSuite.
Amenity access is a differentiator: cafes, groceries, restaurants, and parks all benchmark in the top quartile nationally, and these categories are competitive among the New York–Jersey City–White Plains metro’s 889 neighborhoods (e.g., high cafe and grocery densities rank near the front of the pack). This concentration of everyday services supports renter convenience and leasing retention.
Home values in the area are elevated relative to national norms, which generally sustains reliance on rental housing and can reinforce pricing power for well-managed assets. That said, rent-to-income ratios indicate some affordability pressure; investors should plan for thoughtful lease management and amenity/value positioning to support retention.
Demographic statistics aggregated within a 3-mile radius point to steady population growth and an increase in households historically, with forecasts showing additional household gains and a modest reduction in average household size through the next five years. A larger household count with smaller average size typically broadens the renter pool and supports occupancy stability.
Built in 2000, the property is newer than much of the surrounding housing stock (average vintage in the area skews pre-war). That relative youth can aid competitive positioning versus older inventory, though selective system upgrades and modernization may be warranted to meet current renter expectations.
Safety trends should be evaluated in context. Compared with 889 metro neighborhoods, the area’s overall crime rank sits near the metro midpoint (463 of 889), indicating conditions that trail national benchmarks. Nationally, the neighborhood scores in a lower safety percentile, so proactive security design and resident engagement can be prudent for multifamily operations.
Recent movement shows mixed but notable signals: estimated property offenses declined year over year, while violent offense estimates were roughly flat. These directional shifts suggest gradual stabilization rather than a step-change; investors should underwrite with conservative assumptions and monitor local trendlines over time.
Proximity to major employers supports weekday activity and commute convenience, bolstering renter demand and retention. Nearby anchors include Prudential, AIG, JetBlue Airways, Dr Pepper Snapple Group, and S&P Global.
- Prudential — insurance (2.6 miles)
- AIG — insurance (6.2 miles) — HQ
- JetBlue Airways — airline (6.2 miles) — HQ
- Dr Pepper Snapple Group — beverages (6.3 miles)
- S&P Global — financial data & ratings (6.3 miles) — HQ
360 Snediker Ave offers scale at 53 units with neighborhood fundamentals that favor renter demand. The area posts strong occupancy and a high share of renter-occupied housing units (neighborhood measures), while elevated home values in Kings County help sustain reliance on multifamily housing. Built in 2000, the asset is newer than much of the surrounding stock, which can enhance competitive positioning versus older buildings; targeted modernization can further improve renter appeal.
Within a 3-mile radius, population and household counts have grown, with forecasts pointing to additional household expansion—supporting a larger tenant base and occupancy stability. Amenity density is a strength, and commute access to major employers underpins weekday traffic. According to CRE market data from WDSuite, these dynamics align with durable demand, though affordability pressure and neighborhood safety benchmarks warrant conservative underwriting and active asset management.
- Durable renter demand: strong neighborhood occupancy and elevated renter-occupied share support leasing stability
- Competitive positioning: 2000 vintage stands newer than local stock; targeted upgrades can capture value-add upside
- Demand drivers: top-quartile amenity access and proximity to major employers support retention
- Key risks: affordability pressure (rent-to-income) and safety benchmarks call for conservative underwriting and active management