| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 78th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 392 Saint Marks Ave, Brooklyn, NY, 11238, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2012-02-13 |
| Transaction Price | $3,643,188 |
| Buyer | 392 ST MARKS NY LLC |
| Seller | 392 ST MARKS LLC |
392 Saint Marks Ave, Brooklyn — 24-Unit Multifamily Position
Newer construction for the area and deep renter demand in Prospect Heights support steady operations, according to WDSuite’s CRE market data. Strong amenity access and a high neighborhood renter concentration point to durable leasing with prudent asset management.
The property sits in an A+ rated Urban Core pocket of Brooklyn that ranks 34 out of 889 metro neighborhoods — competitive among New York-Jersey City-White Plains submarkets by livability and demand drivers. Amenity access is a clear strength: neighborhood measures for grocery, restaurants, parks, cafes, pharmacies, and childcare all benchmark at the top of national distributions, supporting leasing velocity and resident retention.
Neighborhood occupancy measures have held at solid levels with a slight upward trend over the past five years, indicating stable renter demand. Renter-occupied housing concentration is elevated (measured at the neighborhood level), which typically expands the tenant base for smaller unit mixes and supports occupancy stability through cycles.
The asset’s 2005 vintage is newer than the neighborhood’s older housing stock, which averages mid-20th century. That positioning can be competitive versus nearby prewar and postwar product, while investors should still plan for mid-life system updates and selective renovations to maintain appeal and NOI.
Within a 3-mile radius, demographics show population growth and a rising share of higher-income households over the last five years, with further household expansion projected. This trajectory points to a larger tenant base and supports rent fundamentals. Elevated home values locally suggest a high-cost ownership market, which tends to sustain rental demand and can aid lease retention for well-maintained multifamily communities.
Safety indicators at the neighborhood level trend weaker than national averages (lower national percentiles), which investors should underwrite via insurance, security, and tenancy strategies. Notably, both violent and property offense estimates declined year over year — violent offenses by approximately 17.6% and property offenses by roughly 21.4% — signaling recent improvement momentum even as conditions remain mixed.
Compared against New York-Jersey City-White Plains neighborhoods (889 total), the area sits in a more challenging cohort on crime metrics; however, ongoing declines provide a constructive trend to monitor alongside local leasing performance and tenant retention.
Proximity to major Manhattan and Brooklyn employers supports a commuter-friendly renter base and helps underpin leasing stability. Nearby employers include Dr Pepper Snapple Group, AIG, S&P Global, Guardian Life, and Robert Half — all within roughly three miles.
- Dr Pepper Snapple Group — corporate offices (2.94 miles)
- Aig — corporate offices (3.04 miles) — HQ
- S&P Global — corporate offices (3.07 miles) — HQ
- Guardian Life Ins. Co. of America — corporate offices (3.12 miles) — HQ
- Robert Half International — corporate offices (3.22 miles)
392 Saint Marks Ave offers 24 units built in 2005, positioning it as relatively newer stock versus the area’s predominantly prewar and postwar buildings. That vintage can reduce near-term capital intensity while remaining competitive for renters seeking modern layouts in a high-amenity Brooklyn location. Neighborhood-level occupancy is steady, and renter concentration is high, supporting a broad tenant base and leasing durability. According to CRE market data from WDSuite, elevated ownership costs locally help sustain reliance on multifamily rentals, reinforcing long-run demand.
Within a 3-mile radius, recent population growth and increasing household counts point to a larger renter pool, with projections indicating continued expansion. Income growth trends further support pricing power for well-managed assets, though owners should calibrate renewal strategies to preserve retention. Safety metrics trail national averages but are improving, warranting prudent underwriting and operating plans.
- 2005 construction offers competitive positioning versus older neighborhood stock, with targeted updates to sustain NOI
- Deep renter base and steady neighborhood occupancy support leasing stability and renewal potential
- High-cost ownership market reinforces multifamily demand and can aid retention in well-run communities
- 3-mile demographics show past and projected population and household growth, expanding the tenant pool
- Risks: safety metrics below national averages and mid-life systems; monitor OPEX, security, and capex planning alongside leasing trends