| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 50th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 44th St, Brooklyn, NY, 11220, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 80 |
| Transaction Date | 2022-11-01 |
| Transaction Price | $18,517,100 |
| Buyer | HOUSING PRESERVATION INC |
| Seller | ROSE GP INVESTORS LLC |
405 44th St, Brooklyn Multifamily Investment
High renter concentration and a high-cost ownership market support durable renter demand in this Brooklyn Urban Core location, according to CRE market data from WDSuite. Newer construction relative to the neighborhood positions the asset competitively for leasing and retention.
This Urban Core neighborhood in Brooklyn rates A- (ranked 147 among 889 metro neighborhoods), reflecting strong location fundamentals for multifamily. Amenity access is a standout: grocery and pharmacy density sits in the top percentile nationally, with cafes and restaurants also near the top, supporting daily convenience and walkable lifestyles that aid leasing velocity.
Renter-occupied share is high at the neighborhood level (64.4%; top decile nationally), indicating a deep tenant base and consistent multifamily demand. Neighborhood occupancy trends hover around the national median, which typically supports stable cash flow through cycles, though operators should still monitor seasonality and lease roll timing.
Within a 3-mile radius, population has been relatively steady in recent years and is projected to grow, with households expected to expand and average household size to trend lower. Rising household incomes in the 3-mile radius point to a larger pool of renters able to support market-rate units, reinforcing demand depth rather than signaling new unit construction. Elevated home values (top percentile in the neighborhood nationally) and a high value-to-income ratio suggest a high-cost ownership market, which tends to sustain rental reliance and support retention.
The neighborhood s housing stock skews older (average vintage 1946), so this property s 2007 construction offers a competitive edge versus much of the surrounding inventory. Newer mechanicals and layouts can reduce near-term capital needs and enhance renter appeal, while leaving room for targeted modernization to drive rents and renewal rates.
School quality averages near the national midpoint and should be weighed against the area s amenity density and renter profile. Overall, the combination of convenience retail, strong service access, and sustained renter concentration is competitive among New York-Jersey City-White Plains neighborhoods.
Neighborhood safety indicators are mixed when viewed against broader benchmarks. Compared with metro peers (267 of 889), conditions are mid-pack, while national comparisons place the area below the median for safety. For investors, this argues for prudent security features and attentive property management to support resident satisfaction and retention.
Recent trend data from WDSuite show year-over-year declines in both violent and property offense rates, indicating improvement versus prior periods. Continued monitoring of these trends, along with coordination on lighting, access controls, and community engagement, can help sustain leasing stability.
The nearby employment base spans beverages, financial data/analytics, staffing, and insurance, supporting a diverse renter pool and commuter convenience for residents.
- Dr Pepper Snapple Group beverages (2.2 miles)
- S&P Global financial data & analytics (3.7 miles) HQ
- Robert Half International staffing services (3.7 miles)
- Guardian Life Ins. Co. of America insurance (3.8 miles) HQ
- Aig insurance (3.9 miles) HQ
Built in 2007 with 80 units, 405 44th St offers newer-vintage product in a neighborhood where much of the stock predates 1950, providing a competitive edge on finishes, systems, and layout efficiency. Elevated neighborhood home values and a high value-to-income ratio reinforce renter reliance on multifamily housing, while the area s high renter concentration supports depth of demand and lease-up resilience. According to CRE market data from WDSuite, neighborhood occupancy sits near national norms, and amenity access ranks among the strongest in the metro, helping support retention.
Forward-looking 3-mile demographics point to a larger tenant base and rising incomes, which can underpin pricing power for appropriately positioned units. Operators should plan routine upgrades as the 2007 systems age and remain attentive to safety perceptions and leasing management, given mid-pack metro safety standing and compact average unit sizes that skew toward singles and roommates rather than larger households.
- Newer 2007 construction vs. older neighborhood stock supports competitive positioning and moderated near-term capex
- High renter concentration and high-cost ownership market reinforce multifamily demand and retention
- Strong amenity access (top-tier groceries, pharmacies, cafes) aids leasing velocity and renewal rates
- 3-mile outlook shows growing tenant base and rising incomes, supporting rentability of well-positioned units
- Risks: safety metrics below national median and compact layouts may limit family appeal; proactive management recommended