| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 74th | Good |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 53 Saint Felix St, Brooklyn, NY, 11217, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1983 |
| Units | 32 |
| Transaction Date | 2024-06-13 |
| Transaction Price | $55,000,000 |
| Buyer | FT GREENE TB HOUSING DEVELOPMENT FUND CO |
| Seller | TRI-BLOCK ASSOCIATES |
53 Saint Felix St Brooklyn Multifamily Investment
Amenity-rich urban core location supports steady renter demand and disciplined pricing, based on WDSuite’s CRE market data. Investor focus centers on retention and professional operations in a high-cost ownership market.
This Brooklyn Urban Core location ranks 41 out of 889 metro neighborhoods, placing it in the top quartile locally. Amenity density is exceptional—restaurants, groceries, parks, pharmacies, and childcare all benchmark at the highest national percentiles—often supporting renewal rates and reducing concession exposure for well-managed assets.
Neighborhood rents sit toward the upper end nationally, while the neighborhood’s occupancy rate (not the property) has hovered near the national midpoint with only modest softening over five years. Renter-occupied housing accounts for about two-thirds of units, indicating a deep tenant base and stable leasing visibility when renewal strategy and service levels are prioritized.
Within a 3-mile radius, both population and households have increased and are projected to expand further, with households growing faster than population. This typically signals smaller average household sizes and a larger multifamily renter pool, supporting occupancy stability and absorption for professionally run properties.
Home values are elevated relative to most U.S. neighborhoods, reinforcing reliance on multifamily rentals and supporting pricing power where product quality and operations are strong. Average school ratings trail national norms, which may be a consideration for family-oriented leasing, but the area’s lifestyle amenities and access to employment nodes remain meaningful demand drivers.
Vintage context: built in 1983, the asset is newer than the neighborhood’s 1960s-era average, providing competitive positioning versus older stock; investors should still budget for targeted modernization to meet current resident expectations.
Safety metrics benchmark below national averages, so investors often underwrite enhanced access control, lighting, and on-site protocols. Recent year-over-year declines in both property and violent offense estimates indicate improving momentum, according to WDSuite’s CRE market data, but a conservative operating posture remains prudent.
Compared with broader regional patterns, the neighborhood’s safety profile has room to improve; disciplined management and capital planning for visibility and monitoring can help support retention and reduce non-revenue incidents over time.
Proximity to major finance and professional services employers supports a commuter-friendly renter base and weekday leasing stability. Notable nearby anchors include AIG, S&P Global, Guardian Life, Robert Half, and AmTrust Financial Services.
- AIG — insurance (1.9 miles) — HQ
- S&P Global — financial information services (2.0 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.0 miles) — HQ
- Robert Half International — staffing & consulting (2.1 miles)
- AmTrust Financial Services — insurance (2.1 miles) — HQ
53 Saint Felix St offers urban-core exposure with strong amenity support and a large renter base. Neighborhood rents are high relative to national peers, and the renter-occupied share near two-thirds points to durable demand depth. According to CRE market data from WDSuite, neighborhood NOI per unit averages rank among the strongest nationally, while occupancy at the neighborhood level (not the property) has been broadly steady with only slight softening—conditions that reward professional asset management and targeted upgrades.
The 1983 vintage is newer than much of the surrounding 1960s-era stock, offering a competitive edge versus older assets while still warranting selective modernization to meet current expectations. Within a 3-mile radius, population and households are expanding, indicating renter pool growth that supports absorption and lease retention. Risks to consider include below-average safety benchmarks and weaker school ratings, which call for attentive operations and resident experience strategies.
- Dense amenities and employment access support retention and pricing power
- Large renter-occupied footprint indicates deep tenant base and leasing visibility
- 1983 vintage outpositions older neighborhood stock; targeted modernization can elevate competitiveness
- Household growth within 3 miles supports occupancy stability and absorption
- Risks: below-average safety and school ratings require conservative operations and resident experience focus