| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 419 Hendrix St, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1983 |
| Units | 60 |
| Transaction Date | 2006-08-01 |
| Transaction Price | $750,000 |
| Buyer | TEJADA DANUVIA |
| Seller | 1670 & 1676 GARFIELD STREET CORP BY JOS |
419 Hendrix St Brooklyn Multifamily Investment
Renter-occupied share is high in the surrounding neighborhood and occupancy has strengthened in recent years, supporting stable leasing fundamentals, according to WDSuite’s CRE market data.
Located in Brooklyn’s Urban Core, the area around 419 Hendrix St offers daily-life convenience that supports renter retention. Neighborhood amenity depth is strongest in groceries, parks, and pharmacies—each ranking in the upper national percentiles—while cafes are less dense. For investors, this mix favors necessity-driven foot traffic and everyday services over destination retail.
Neighborhood occupancy is in the above-average range and has improved over the past five years, indicating resilient demand. The neighborhood s renter-occupied share is elevated (measured as the share of housing units that are renter-occupied), which points to a deep tenant base and supports ongoing leasing activity. Median contract rents sit in the upper tiers locally, so rent-to-income levels warrant routine lease management to mitigate affordability pressure and preserve retention.
Home values are elevated relative to incomes (high value-to-income ratio), signaling a high-cost ownership market. For multifamily investors, this dynamic tends to reinforce reliance on rentals, supporting demand depth and pricing power for well-positioned assets.
Within a 3-mile radius, the population and household counts have grown in recent years, and forecasts indicate additional gains alongside a gradual decline in average household size. This combination typically expands the renter pool and supports occupancy stability and lease-up velocity over time, based on CRE market data from WDSuite.
Vintage context: the property s 1983 construction is newer than the neighborhood s older building stock (average vintage skews pre-war). That positioning can be relatively competitive versus older assets, though investors should underwrite for selective modernization and systems upgrades to meet current renter expectations.
Safety indicators in the immediate neighborhood trail national benchmarks, with violent and property offense rates placing in low national percentiles. In the New York-Jersey City-White Plains, NY-NJ metro context, the neighborhood s crime rank sits below the metro median (rank 340 among 889 neighborhoods), signaling comparatively higher incident levels than many peer areas.
Trend-wise, estimated violent and property offense rates have moved lower year over year, which is a constructive signal. Investors commonly respond with standard measures such as lighting, access control, and partnership with community programs to support tenant experience and retention without overreliance on any single mitigation.
The broader employment base includes finance, insurance, utilities, and aviation, supporting commuter demand and lease stability for workforce-oriented units. Nearby employers include Prudential, JetBlue Airways, AIG, S&P Global, and Guardian Life.
- Prudential — insurance (1.9 miles)
- Jetblue Airways — aviation (6.1 miles) — HQ
- Aig — insurance (6.6 miles) — HQ
- S&P Global — financial information (6.7 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.7 miles) — HQ
419 Hendrix St offers exposure to a renter-centric pocket of Brooklyn with steady neighborhood occupancy and essential-service amenities that favor daily convenience. Elevated home values relative to incomes indicate a high-cost ownership market, which typically sustains multifamily demand and supports pricing for well-maintained assets. According to commercial real estate analysis from WDSuite, year-over-year declines in estimated violent and property offenses are a constructive trend to monitor alongside ongoing operational controls.
Built in 1983, the asset is newer than much of the surrounding housing stock, which can translate to competitive positioning versus older buildings while still allowing room for value-add through targeted renovations and systems updates. Within a 3-mile radius, recent and projected growth in population and households—paired with gradually smaller household sizes—points to a larger renter pool and supports occupancy stability over the medium term.
- Renter-heavy neighborhood and above-average occupancy support consistent leasing
- High-cost ownership market reinforces depth of rental demand
- 1983 vintage enables competitive positioning with value-add modernization upside
- 3-mile radius shows growth in population and households, expanding the renter base
- Risks: below-average safety indicators and rent-to-income pressure require active management