| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 78th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 399 Saint Marks Ave, Brooklyn, NY, 11238, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
399 Saint Marks Ave, Brooklyn Multifamily Investment
Well-located 24-unit asset in an Urban Core pocket with deep renter demand and steady neighborhood occupancy, according to WDSuite's CRE market data. Strong amenity access and a high-cost ownership market support durable leasing fundamentals for investors.
This Urban Core neighborhood ranks 34 out of 889 metro neighborhoods (A+ rating), placing it among the most competitive areas for multifamily in the New York-Jersey City-White Plains region. Amenity density is a clear advantage: restaurants, cafes, groceries, parks, and pharmacies benchmark at the top end nationally, reinforcing walkability and day-to-day convenience that supports leasing.
Neighborhood occupancy sits near the U.S. middle, indicating steady but competitive conditions. The renter-occupied share of housing is very high (top national tier), signaling a deep tenant base and breadth of demand for apartments. Benchmarks for operating income per unit are also in the top percentile nationally, consistent with strong rent and income fundamentals in similar Brooklyn locations, based on CRE market data from WDSuite.
Home values are elevated versus national norms and median rents trend above most U.S. neighborhoods. In practice, a high-cost ownership market tends to sustain reliance on multifamily housing, while a moderate rent-to-income profile can support retention and lease management.
Within a 3-mile radius, population and household counts have increased over the last five years, with projections indicating further renter pool expansion and smaller average household sizes over the next period. For investors, that combination points to a larger tenant base and ongoing support for occupancy and leasing velocity, even as competition remains active across the metro.
The property's 2000 vintage is newer than the area's older housing stock (average construction year is mid-20th century). That relative youth can enhance competitive positioning versus legacy assets, though investors should still underwrite typical modernization and systems updates expected for assets of this age.
As with many dense urban areas, reported crime metrics benchmark below national safety percentiles. However, recent year-over-year trends show notable declines in both violent and property offenses, outpacing many U.S. neighborhoods according to WDSuite's CRE market data. Investors typically address these dynamics through standard security measures and underwriting rather than expecting immediate normalization.
At the metro level, this neighborhood's safety profile should be evaluated in the context of urban-core foot traffic and destination amenities. Directional improvements are constructive, but prudent operations and tenant communication remain important for retention and leasing.
Nearby corporate offices provide a large, transit-oriented employment base that supports weekday demand, commute convenience, and resident retention. Key employers include Dr Pepper Snapple Group, AIG, S&P Global, Guardian Life, and Robert Half.
- Dr Pepper Snapple Group - corporate offices (2.96 miles)
- AIG - corporate offices (3.05 miles) - HQ
- S&P Global - financial information services (3.07 miles) - HQ
- Guardian Life Ins. Co. of America - insurance (3.13 miles) - HQ
- Robert Half International - staffing & consulting (3.23 miles)
399 Saint Marks Ave combines Urban Core fundamentals with a renter-heavy housing base, translating to durable multifamily demand. Neighborhood occupancy trends sit around the national middle while the renter-occupied share is among the highest nationally, reinforcing depth of the tenant pool. Elevated ownership costs in the area help sustain reliance on rentals, and within a 3-mile radius both population and households have grown with further gains projected, supporting occupancy stability and leasing velocity. According to CRE market data from WDSuite, local income benchmarks and operating performance indicators compare favorably to national norms.
Built in 2000, the asset is newer than much of the surrounding housing stock, providing relative competitiveness versus older buildings and potential to drive returns through targeted upgrades rather than wholesale repositioning. Investors should still plan for age-appropriate system updates and stay attentive to urban safety perceptions and school quality dispersion when underwriting retention and pricing power.
- Urban Core location with high amenity access that supports leasing and retention
- Deep renter-occupied housing base indicates a broad tenant pool
- 2000 vintage offers competitive positioning versus older local stock with targeted value-add potential
- Directional crime improvements and average schools warrant conservative underwriting on retention and expenses