| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 43rd | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 519 Marcy Ave, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2005 |
| Units | 58 |
| Transaction Date | 2005-03-28 |
| Transaction Price | $1,350,000 |
| Buyer | MARCY TOWER LLC |
| Seller | 652 PARK LLC |
519 Marcy Ave Brooklyn 58-Unit Multifamily
Stabilized renter demand and high neighborhood occupancy support durable performance, according to WDSuite’s CRE market data. 2005 construction offers a competitive edge versus older local stock while still allowing targeted upgrades.
Located in Brooklyn’s Urban Core, the property benefits from dense, transit-friendly living and one of the metro’s strongest amenity footprints. Amenity access ranks 37 out of 889 metro neighborhoods (top quartile), with abundant cafes, groceries, parks, pharmacies, and restaurants reinforcing daily convenience and leasing appeal. This breadth of services supports both retention and rent trade‑ups over time, based on commercial real estate analysis from WDSuite.
Neighborhood occupancy is strong at the neighborhood level, with rates positioned above national benchmarks and improving over the last five years, indicating steady absorption and limited downtime between turns. Renter-occupied housing comprises a high share of units in this neighborhood, signaling a deep tenant base for multifamily product and potential resilience across cycles.
Home ownership costs are elevated locally relative to incomes, which tends to sustain reliance on rental housing and can support pricing power for well-managed assets. At the same time, a rent-to-income profile near 30% suggests some affordability pressure, making proactive lease management and renewal strategies important for maintaining occupancy stability.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, while average household size trends lower. This combination points to a larger renter pool and ongoing demand for smaller-format units, which aligns with the property’s average unit size.
The property’s 2005 vintage is newer than the neighborhood average construction year (1975), offering relative competitiveness versus older inventory; investors should still plan for normal mid‑life system updates or selective renovations to sharpen positioning.
Safety metrics in the immediate neighborhood trail national benchmarks, with overall crime levels positioned below the national median. Within the New York–Jersey City–White Plains, NY–NJ metro, the area’s crime rank sits at 347 out of 889 neighborhoods, which is competitive among metro peers but not top tier.
Recent trends are directionally positive: estimated violent and property offense rates have declined year over year, indicating incremental improvement. Investors typically address this by emphasizing access control, lighting, and resident engagement to support retention and asset reputation while monitoring local trendlines.
Proximity to Downtown and Midtown employment anchors concentrates a large professional tenant base within practical commuting distance. Key employers nearby include AIG, AmTrust Financial Services, S&P Global, Yahoo, and Guardian Life, supporting demand depth and lease retention.
- AIG — insurance (2.97 miles) — HQ
- Amtrust Financial Services — insurance (3.15 miles) — HQ
- S&P Global — financial information & ratings (3.15 miles) — HQ
- Yahoo — media & tech (3.16 miles)
- Guardian Life Ins. Co. of America — insurance (3.18 miles) — HQ
The investment case centers on location fundamentals, renter concentration, and relative competitiveness for its vintage. Built in 2005, the 58‑unit property is newer than much of the surrounding housing stock, which can reduce near‑term capital intensity while leaving room for targeted value creation through finishes, common‑area enhancements, and efficiency upgrades. Elevated neighborhood occupancy and a high share of renter‑occupied units point to a stable tenant base and support for steady leasing, while elevated ownership costs locally reinforce reliance on multifamily housing, according to CRE market data from WDSuite.
Demographic indicators within a 3‑mile radius show population and household growth with smaller average household sizes, expanding the renter pool for compact floor plans. Risks to underwrite include below‑average school ratings for families and safety metrics that lag national norms; both can be mitigated through focused operations, resident experience, and thoughtful capex planning as the asset moves through its mid‑life cycle.
- Newer 2005 vintage versus local average supports competitive positioning with manageable mid‑life capex
- High neighborhood occupancy and strong renter concentration underpin leasing stability
- Elevated ownership costs sustain rental demand and potential pricing power
- Growing 3‑mile population and households expand the tenant base for smaller units
- Risks: below‑average school ratings and safety metrics require proactive operations and resident engagement