| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 26th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 47 Malta St, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2006 |
| Units | 48 |
| Transaction Date | 2022-11-07 |
| Transaction Price | $4,148,563 |
| Buyer | 45 MALTA INVESTOR LLC |
| Seller | ENTERPRISE HOUSING ALLIANCE FUND LP |
47 Malta St, Brooklyn NY Multifamily Investment
Neighborhood-level occupancy remains solid and renter demand is deep, according to WDSuite s CRE market data, with stability driven by an 80% renter-occupied housing mix in the immediate area. For investors, this points to durable leasing fundamentals at the sub-neighborhood scale rather than property-specific performance.
This Urban Core pocket of Brooklyn supports multifamily with a large renter base and resilient occupancy patterns. Neighborhood occupancy ranks competitive among 889 New York Jersey City White Plains neighborhoods and sits in the top quartile nationally, indicating steady leasing conditions at the neighborhood level rather than at the asset. The area s renter-occupied share is high, reinforcing depth of the tenant base and underpinning demand for smaller-format units typical of mid-rise stock.
Livability signals are mixed but generally favorable for daily needs. Neighborhood amenity access to grocery, pharmacies, and parks scores in high national percentiles, while cafes are sparse. Restaurant density is above national norms, and childcare access is notably strong, which can aid retention among households with young children. Average school ratings in the neighborhood are below national norms, an element some family renters may weigh in location decisions.
For context on building positioning, the property s 2007 vintage is materially newer than the neighborhood s older housing stock (average year built mid-20th century). Newer construction often competes well on systems and finishes versus legacy inventory, though selective modernization may still be warranted for contemporary renter preferences and operating efficiency.
Within a 3-mile radius, demographics indicate a growing renter pool: population and households have expanded over the past five years, with further increases projected. Rising median incomes alongside elevated home values in the neighborhood create a high-cost ownership market, which tends to sustain reliance on rentals and can support occupancy stability. At the same time, rent-to-income ratios at the neighborhood level suggest some affordability pressure, pointing to prudent lease management and renewal strategies. These dynamics, based on CRE market data from WDSuite, frame a demand backdrop that supports consistent renter interest and measured pricing power.
Safety signals should be weighed carefully in underwriting. The neighborhood s crime rank sits below the metro median (ranked 442 out of 889 metro neighborhoods), placing it below average on safety compared with peers in the New York Jersey City White Plains region. Nationally, the neighborhood compares weak on both violent and property crime percentiles. However, recent year-over-year data from WDSuite show declines in both violent and property offense rates, indicating incremental improvement. Investors may consider enhanced security measures and community partnerships to support resident retention and operational stability.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience for residents, including Prudential, Dr Pepper Snapple Group, AIG, S&P Global, and JetBlue Airways.
- Prudential corporate offices (2.36 miles)
- Dr Pepper Snapple Group corporate offices (6.58 miles)
- Aig corporate offices (6.60 miles) HQ
- S&P Global corporate offices (6.69 miles) HQ
- Jetblue Airways corporate offices (6.70 miles) HQ
47 Malta St offers investors exposure to a renter-heavy Brooklyn neighborhood with stable occupancy, everyday amenities, and proximity to a diverse employment base. The asset s 2007 construction is newer than the surrounding housing stock, supporting competitive positioning versus older buildings while leaving room for targeted upgrades to enhance renter appeal and operating efficiency. Neighborhood occupancy trends are competitive among metro peers and in the top quartile nationally, a constructive backdrop for lease-up and renewals. Within a 3-mile radius, population and household growth with additional gains projected suggest a gradually expanding tenant base that supports ongoing demand.
According to commercial real estate analysis from WDSuite, elevated neighborhood home values point to a high-cost ownership market that can sustain multifamily demand, though neighborhood rent-to-income ratios signal affordability pressure that warrants disciplined pricing and renewal strategies. Safety ranks below the metro median but shows recent improvement, which should be incorporated into capital planning, resident services, and underwriting assumptions.
- Renter-heavy neighborhood and competitive occupancy underpin demand stability
- 2007 vintage offers relative competitive edge vs. older stock with selective value-add potential
- Expanding 3-mile population and households support a larger tenant base and leasing continuity
- High-cost ownership context reinforces reliance on rentals and supports retention
- Risks: below-metro safety ranking and affordability pressure require prudent operations and pricing