| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 26th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 445 Thomas S Boyland St, Brooklyn, NY, 11212, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
445 Thomas S Boyland St, Brooklyn NY Multifamily Investment
Renter demand is deep and occupancy has been steady at the neighborhood level, according to WDSuite’s CRE market data, supporting durable income potential for an 88-unit asset. The property’s 2008 vintage is relatively modern for the area, positioning it competitively versus older stock.
Situated in Brooklyn’s Urban Core, the neighborhood shows competitive amenity access within the New York–Jersey City–White Plains metro (ranked 277 among 889 metro neighborhoods), with strong proximity to daily-needs retail: neighborhood measures indicate high concentrations of groceries, pharmacies, and parks compared with U.S. norms. Restaurant density also trends above national averages, while cafes are less dense locally.
For multifamily investors, neighborhood-level occupancy is high and has improved over the last five years, and the share of housing units that are renter-occupied is elevated. Together, these indicators point to a large and active tenant base that can support occupancy stability and lease-up resilience through cycles.
Within a 3-mile radius, demographics show population growth over the last five years with a larger increase in households, suggesting smaller household sizes and a gradual expansion of the renter pool. Forward-looking estimates point to additional population and household gains, which typically support stable absorption and renewal depth for workforce-oriented rentals.
Ownership costs in the neighborhood are high relative to incomes by national comparison, and home values trend well above U.S. norms. For investors, that translates into a high-cost ownership market that reinforces reliance on multifamily housing and can aid pricing power, though a rent-to-income profile at the neighborhood level warrants attentive lease management to mitigate affordability pressure and support retention.
School ratings in the area benchmark below national averages, which may limit family-driven demand in certain unit mixes. Conversely, the property’s 2008 construction is newer than the neighborhood’s older building stock (average vintage mid-20th century), offering competitive positioning versus legacy assets while still requiring periodic systems updates common to assets of its age.
Safety conditions vary by block and time of day. At the metro level, the neighborhood’s crime rank sits near the middle of the 889 New York–Jersey City–White Plains neighborhoods, indicating neither a top-performing nor bottom-tier position locally. Compared with national patterns, neighborhood measures indicate lower safety than U.S. averages; however, both violent and property offense rates have improved year over year, signaling directional progress.
Investors should underwrite with conservative assumptions around security, lighting, and access control, and monitor ongoing trend improvements as local initiatives and broader citywide patterns evolve.
Nearby corporate offices in insurance, financial services, and aviation provide diverse employment anchors that support renter demand and commute convenience for residents. Key employers include Prudential, AIG, S&P Global, Guardian Life, and JetBlue Airways.
- Prudential — insurance (3.2 miles)
- Aig — insurance (5.4 miles) — HQ
- S&P Global — financial information & ratings (5.5 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.6 miles) — HQ
- Jetblue Airways — airline (5.7 miles) — HQ
This 88-unit property, built in 2008, is newer than much of the surrounding housing stock, offering a competitive edge over older assets while remaining a candidate for targeted modernization to sustain performance. Neighborhood measures indicate high occupancy and an elevated share of renter-occupied housing units, supporting steady demand and renewal depth. According to CRE market data from WDSuite, ownership costs benchmark high relative to incomes locally, which tends to sustain reliance on rentals and can support pricing power when paired with disciplined lease management.
Within a 3-mile radius, the area has experienced population growth and a larger increase in households, pointing to smaller household sizes and a gradually expanding renter pool. Forward estimates indicate continued increases in both population and households, which are constructive for long-term absorption and occupancy stability, particularly for efficiently sized units.
- Neighborhood-level occupancy is high with a large renter-occupied share, supporting durable demand
- 2008 vintage offers an advantage versus older local stock, with potential value-add via systems and finishes
- High-cost ownership market reinforces renter reliance, aiding pricing power with careful lease management
- 3-mile radius shows population and household growth, expanding the renter pool and supporting lease-up
- Risks: below-average school ratings and below-national safety benchmarks require prudent underwriting and property-level controls