| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 452 Keap St, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 48 |
| Transaction Date | 2006-03-16 |
| Transaction Price | $6,400,000 |
| Buyer | KEAP STREET HOLDINGS LLC |
| Seller | RIVER CREEK REALTY INC |
452 Keap St Brooklyn Multifamily Investment
High renter-occupied concentration and a high-cost ownership market point to durable demand and stable leasing fundamentals at the neighborhood level, according to WDSuite’s CRE market data.
Located in Brooklyn’s Urban Core, 452 Keap St sits within a neighborhood that ranks 7th among 889 metro neighborhoods with an A+ overall rating, reflecting strong amenity access and income fundamentals that support multifamily performance. Restaurants, cafes, grocery stores, pharmacies, and parks are dense by national standards, placing the area in the top quartile nationally for amenities and daily-needs access, which helps retention and reduces friction in leasing.
The neighborhood’s renter-occupied share is high (78.4% of housing units), indicating a deep tenant base for multifamily operators and consistent demand across cycles. Neighborhood occupancy is approximately 95%, which is above many national readings and suggests a stable leasing backdrop and potential for resilient cash flow through normal cycles.
Within a 3-mile radius, demographics show population and household growth alongside rising incomes, expanding the renter pool and supporting future absorption. Median household income and home values are elevated relative to national norms; this is a high-cost ownership market, which tends to reinforce reliance on rental housing and can support pricing power and lease retention for well-positioned assets.
The local housing stock skews older (average vintage 1974), making the property’s 2008 construction relatively newer than much of the competitive set. Newer vintage typically competes well on systems and finishes versus older inventory, though investors should still plan for modernization and selective capital projects as the asset approaches its second decade-plus of operation.
Neighborhood safety metrics are mixed when viewed against national benchmarks. Violent and property offense rates sit below national percentiles for safety, indicating higher-than-average incidence compared with U.S. neighborhoods overall; however, both categories have improved year over year, with recent declines suggesting a constructive trend. Within the New York-Jersey City-White Plains metro, crime levels are around the metro median among 889 neighborhoods, underscoring the importance of standard security measures and active property management.
Proximity to major employers supports a sizable commuting tenant base and can aid retention. Nearby anchors include utilities, technology, media, and insurance offices within roughly three miles.
- Con Edison Distribution Engineering — utilities engineering (2.4 miles)
- Consolidated Edison — utilities (2.41 miles) — HQ
- Yahoo — technology/media (2.41 miles)
- New York Life Insurance Company — insurance (2.54 miles)
- Netflix — media & entertainment (2.64 miles)
452 Keap St is a 48-unit, 2008-vintage asset positioned in an A+–rated Brooklyn neighborhood with dense amenities, elevated incomes, and a predominantly renter-occupied housing base. The area’s high-cost ownership landscape and above-average neighborhood occupancy support steady leasing and potential rent resilience for well-managed units, while the property’s relatively newer construction versus the local 1970s average offers competitive positioning against older stock.
Within a 3-mile radius, population and household growth, along with rising incomes, point to a larger tenant base over the next several years, supporting occupancy stability and absorption. Based on commercial real estate analysis from WDSuite, neighborhood NOI per unit performance is competitive among New York-Jersey City-White Plains neighborhoods, and rent-to-income dynamics suggest actionable pricing without outsized retention risk. Investors should plan for routine system upgrades as the asset ages and remain mindful of safety metrics that trail national averages, even as near-term trends improve.
- Demand depth: high renter-occupied share and strong amenity access support leasing stability.
- Competitive positioning: 2008 construction compares favorably to older neighborhood stock, with value-add options via targeted upgrades.
- Income and growth: 3-mile radius trends show expanding renter pool and rising incomes that can support absorption and rent levels.
- Operations: neighborhood occupancy and NOI per unit are strong for the metro, per WDSuite data.
- Risks: safety benchmarks trail national averages and the 2008 vintage will require ongoing capital planning.