| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 480 Humboldt St, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 20 |
| Transaction Date | 2011-09-02 |
| Transaction Price | $9,275,000 |
| Buyer | 480 Humbolt Associates LLC |
| Seller | The Estate of 480 Humbolt Holding LLC |
480 Humboldt St, Brooklyn NY Multifamily Investment
Urban-core Brooklyn shows durable renter demand and steady neighborhood occupancy, according to WDSuite s CRE market data, suggesting reliable leasing fundamentals for a 20-unit asset. Newer construction for the area positions the property competitively against older local stock.
The immediate area scores an A+ neighborhood rating and ranks 7th of 889 metro neighborhoods, placing it among the top-performing locations locally. Amenity density is a standout: restaurants, cafes, parks, groceries, and pharmacies all sit in the top national percentiles, supporting livability and sustained multifamily demand rather than relying on destination commuting.
Neighborhood occupancy is reported at roughly mid-90s and sits in the 71st percentile nationally, reinforcing leasing stability through cycles based on CRE market data from WDSuite. The share of housing units that are renter-occupied is elevated (near the top of national comparisons), which deepens the tenant base and supports ongoing absorption for professionally managed multifamily.
Home values are high relative to incomes in this neighborhood and the broader metro (near the 99th national percentile for values), which often sustains renter reliance on multifamily housing and can support pricing power and retention. At the same time, median contract rents benchmark near the top of national comparisons while rent-to-income sits around the lower national quintiles, indicating some affordability pressure management may be necessary for lease renewals.
The property s 2007 construction is newer than the neighborhood s average vintage (1970s), offering a relative competitive edge versus older buildings while still warranting capital planning for mid-life systems and selective modernization to meet current renter expectations. Within a 3-mile radius, demographics show recent population and household growth with a forecasted increase in households, pointing to renter pool expansion that supports occupancy stability and rent visibility.
Relative to neighborhoods nationwide, this area s safety metrics benchmark below national averages (crime sits in lower national percentiles). Within the metro, the neighborhood s crime rank is toward the lower half (423 of 889), indicating conditions that warrant prudent operational practices such as access control and lighting.
Recent trends are constructive: estimated violent incidents declined year over year and property-related offenses also eased, according to WDSuite s CRE data. Investors should weigh these improving trends against the still-below-average national standing and underwrite appropriate security measures and insurance assumptions.
Proximity to major employers supports a robust renter base and commute convenience for workforce and professional tenants. Notable nearby employers include JetBlue Airways, New York Life Insurance Company, Con Edison (including distribution engineering), and Verizon.
- JetBlue Airways corporate offices (2.2 miles) HQ
- New York Life Insurance Company corporate offices (2.5 miles)
- Con Edison Distribution Engineering corporate offices (2.6 miles)
- Verizon Communications corporate offices (2.6 miles)
- Consolidated Edison corporate offices (2.6 miles) HQ
480 Humboldt St is a 20-unit, 2007-built asset positioned in a top-ranked Brooklyn neighborhood where amenity density, high-income households, and a predominantly renter-occupied housing stock underpin demand. Neighborhood occupancy trends in the mid-90s and an A+ area rating indicate resilient leasing conditions versus many peer submarkets, while elevated home values relative to incomes reinforce renter reliance on multifamily rather than ownership turnover.
The 2007 vintage is newer than the neighborhood average, offering competitive differentiation versus older buildings and potential to capture premium rents with targeted updates. Within a 3-mile radius, recent and projected increases in households point to a larger tenant base and support for occupancy stability. According to commercial real estate analysis from WDSuite, neighborhood-level NOI per unit benchmarks near the top nationally, aligning with the area s strong fundamentals; investors should still plan for prudent affordability and security underwriting given high rents and safety metrics that trail national norms.
- Top-ranked urban-core location (7th of 889 metro neighborhoods) with dense amenities supporting sustained renter demand
- Neighborhood occupancy in the 71st national percentile supports leasing stability and retention
- 2007 construction offers competitive positioning versus older local stock with selective value-add upside
- High home values relative to income help sustain multifamily demand and pricing power
- Risks: below-average national safety benchmarks and elevated rents call for thoughtful security and affordability management