| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 60th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 383 Throop Ave, Brooklyn, NY, 11221, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1997 |
| Units | 91 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
383 Throop Ave Brooklyn Multifamily in Amenity-Rich Core
Investor positioning centers on steady neighborhood occupancy and a deep renter base, according to WDSuite’s CRE market data, supporting durable demand for a 1997-vintage, 91-unit asset in Brooklyn’s urban core. Elevated ownership costs nearby further sustain reliance on multifamily rentals, aiding retention and pricing discipline.
The property sits within an Urban Core neighborhood that is competitive among New York–Jersey City–White Plains submarkets (ranked 80 of 889 metro neighborhoods, neighborhood rating A). Daily-needs convenience is a clear strength: neighborhood amenities benchmark in the top percentiles nationally for grocery, parks, cafés, and pharmacies, which typically supports renter satisfaction and lease retention.
Vintage context matters for underwriting. While the neighborhood’s housing stock skews older (average year 1932), this asset was built in 1997, giving it a relative competitive edge versus prewar inventory; investors should still plan for selective modernization of common areas and building systems to maintain positioning.
Renter demand is deep. At the neighborhood level, approximately 64.7% of housing units are renter-occupied, indicating a sizable tenant pool and stable leasing backdrop. Within a 3-mile radius, demographics show recent population and household growth with a trend toward smaller average household sizes, which generally expands the renter pool and supports occupancy stability.
Pricing and affordability set the competitive frame. Neighborhood asking rents trend high versus national norms, while home values are elevated for owners. In practice, this high-cost ownership market reinforces multifamily reliance and can aid lease-up and retention, though operators should manage rent-to-income dynamics carefully to balance renewal rates and turnover risk based on commercial real estate analysis from WDSuite.
Schools in the area rate below national averages; this tends to tilt demand toward singles, couples, and roommate households rather than being a primary draw for family renters. Amenity density, commute access within the boroughs, and lifestyle convenience remain the primary demand drivers.
Safety trends are mixed and should be monitored. Compared with neighborhoods nationwide, this area sits below average for safety based on crime measures (national percentiles indicate higher-than-typical incident rates). Within the metro, the neighborhood ranks 312 of 889, signaling that it trails many New York–Jersey City–White Plains peers on safety.
Recent momentum is constructive: both violent and property offense estimates have improved year over year (double‑digit declines), which, if sustained, can support renter perception and retention. Investors should underwrite with prudent security measures and community engagement strategies while tracking whether downward trends persist.
Proximity to major Manhattan-based employers supports a broad renter pool seeking commute convenience, particularly in financial services and insurance. Nearby anchors include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- AIG — insurance (3.48 miles) — HQ
- S&P Global — financial analytics & ratings (3.62 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.66 miles) — HQ
- Amtrust Financial Services — insurance (3.67 miles) — HQ
- Assurant — insurance (3.73 miles) — HQ
383 Throop Ave offers a scale-efficient, 91‑unit footprint in an amenity-dense Brooklyn neighborhood where renter-occupied housing is prevalent and neighborhood occupancy has trended higher over the past five years. The 1997 construction is notably newer than much of the local housing stock, supporting competitive positioning versus older assets while leaving room for targeted value-add to drive operational upside.
Based on CRE market data from WDSuite, elevated ownership costs and strong amenity access underpin durable renter demand, while proximity to major employers broadens the tenant base. Underwriting should incorporate measured rent-to-income management and ongoing safety monitoring, but the combination of scale, relative vintage, and location fundamentals frames a credible long-term hold thesis.
- Amenity-rich Urban Core location supports retention and lease stability.
- 1997 vintage is competitive versus older neighborhood stock, with value-add potential via selective upgrades.
- Deep renter base and rising neighborhood occupancy bolster demand durability.
- Access to major employers enhances leasing velocity across workforce and professional cohorts.
- Risks: below-average safety metrics and rent-to-income pressure require prudent operations and renewal strategy.