| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 80th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 499 Gates Ave, Brooklyn, NY, 11216, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1972 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
499 Gates Ave Brooklyn NY Multifamily Investment
Renter demand is supported by a high-cost ownership market and strong neighborhood fundamentals, according to WDSuite’s CRE market data. Expect stable occupancy and pricing resilience driven by a deep renter base in an amenity-rich Urban Core location.
This Urban Core location in Brooklyn benefits from extraordinary amenity density — groceries, pharmacies, parks, and restaurants are among the strongest concentrations nationally, reinforcing day-to-day livability and supporting tenant retention (based on CRE market data from WDSuite). Amenity access ranks competitively among 889 New York–Jersey City–White Plains metro neighborhoods, translating into convenience that typically underpins leasing stability.
Home values in the neighborhood are elevated compared with national norms, which tends to sustain reliance on rental housing and support pricing power for well-managed assets. Neighborhood median contract rents have risen over the past five years, while the neighborhood occupancy rate has trended higher, indicating durable renter demand. The neighborhood’s renter concentration is high (share of housing units that are renter-occupied), signaling a deep tenant base for multifamily owners.
Within a 3-mile radius, population and households have grown over the past five years and are projected to continue increasing, pointing to a larger tenant base ahead. Income growth at the area level further reinforces demand for quality units, while average school ratings sit around the middle of national comparisons, which is typical for dense urban neighborhoods.
Vintage context: the neighborhood’s housing stock skews older on average, and a 1972 asset is newer than much of the local inventory. That relative youth can be a competitive positive versus pre-war buildings, though investors should still plan for modernization of common areas and building systems to meet current renter expectations.
Safety indicators in this neighborhood trail national benchmarks, placing it below the safer end of U.S. neighborhoods. Within the New York–Jersey City–White Plains metro, the area sits around the middle of the pack among 889 neighborhoods. Recent year-over-year declines in both property and violent offense rates suggest gradual improvement, but prudent underwriting should account for elevated baseline levels relative to national comparisons.
For investors, this typically means focusing on property-level measures that enhance resident experience (lighting, access control, and visible upkeep) and emphasizing the location’s amenity and employment access in leasing and retention strategies.
Nearby financial and professional services headquarters cluster within roughly 3–4 miles, supporting a steady commuter tenant base and helping bolster retention for workforce and professional renters. Notable employers include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- AIG — insurance HQ (3.35 miles) — HQ
- S&P Global — financial information services (3.46 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.51 miles) — HQ
- Amtrust Financial Services — insurance (3.55 miles) — HQ
- Assurant — insurance (3.60 miles) — HQ
499 Gates Ave is a 25‑unit, 1972-vintage asset positioned in a Brooklyn neighborhood with strong renter fundamentals and exceptional amenity density. The property is newer than much of the surrounding housing stock, offering relative competitiveness versus older buildings while still presenting potential upside from targeted system upgrades and contemporary finishes. High ownership costs in the area reinforce reliance on rentals, and neighborhood occupancy has trended higher, supporting stable cash flow potential.
Within a 3-mile radius, both population and households have increased and are forecast to grow further, suggesting a larger tenant base and support for occupancy stability. Neighborhood-level income metrics are solid and rent-to-income appears manageable for many renters, though lease management should monitor affordability pressure. According to CRE market data from WDSuite, the neighborhood posts top-tier amenity access and strong NOI per-unit performance among metro peers, which can underpin long-term leasing durability.
- Newer-than-neighborhood-average 1972 vintage offers competitive positioning and value-add via modernization
- High-cost ownership market supports renter demand and pricing resilience
- Amenity-rich Urban Core location with strong commuter access to major employers
- Expanding 3-mile renter pool supports occupancy stability over the medium term
- Risk: Safety metrics lag national benchmarks; underwriting should incorporate property-level security and retention strategies