| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 43rd | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 53 Utica Ave, Brooklyn, NY, 11213, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1982 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
53 Utica Ave, Brooklyn — 1982 Urban-Core Multifamily
Deep renter demand and strong neighborhood amenities support stable operations, according to WDSuite’s CRE market data. The asset’s urban-core location in Kings County positions it for consistent leasing in a high-cost ownership market.
Located in Brooklyn’s Urban Core, the neighborhood surrounding 53 Utica Ave carries an A- rating and shows investor-friendly fundamentals: amenity access is strong (parks, groceries, pharmacies, and restaurants all rank in the high national percentiles), which helps sustain renter appeal and day-to-day livability. Neighborhood occupancy is 94.2% — a neighborhood-level metric that signals solid stability versus broader U.S. trends, based on CRE market data from WDSuite.
Renter concentration is high at 78.2% of housing units being renter-occupied at the neighborhood level, indicating a deep tenant base for multifamily. Median household incomes in the immediate neighborhood are below national medians, while home values rank high nationally, a combination that typically reinforces reliance on rental housing and supports lease retention where product quality and management execution are strong.
Within a 3-mile radius, demographics show population growth over the last five years with additional household growth expected. Forecasts indicate more households and a smaller average household size by 2028, which generally expands the renter pool and supports occupancy stability for well-positioned assets. Investors should plan for lease management that balances rent growth with affordability to maintain retention.
Vintage context: the property was built in 1982 in a neighborhood where the average construction year skews older. That relative youth can be a competitive advantage against prewar stock, though systems modernization and common-area refreshes may still offer value-add upside.
Safety indicators for the surrounding neighborhood are mixed. Relative to neighborhoods nationwide, violent and property offense measures sit in low national percentiles, signaling elevated incident rates compared with national norms. At the metro level, the neighborhood’s overall crime rank sits around the midpoint among 889 New York–area neighborhoods. Notably, recent data shows a year-over-year decline in violent offenses, suggesting some improvement in trend.
Investors typically manage this profile through security features, lighting and access controls, and by emphasizing professional on-site management to support resident confidence and retention.
Proximity to major Manhattan employers supports commuter demand and weekday leasing stability, particularly for finance, insurance, and corporate services roles. The following nearby employers anchor the area’s white-collar workforce base.
- Prudential — insurance & financial services (4.18 miles)
- AIG — insurance (4.41 miles) — HQ
- S&P Global — financial data & ratings (4.51 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (4.55 miles) — HQ
- Dr Pepper Snapple Group — beverages (4.60 miles)
The investment case centers on durable renter demand and location fundamentals. Neighborhood occupancy runs at 94.2% and roughly four out of five housing units are renter-occupied, indicating a sizable tenant base and potential for steady leasing. Elevated home values relative to local incomes point to a high-cost ownership market, which typically sustains reliance on multifamily rentals and can support pricing power when paired with effective operations. Built in 1982, the asset is newer than much of the surrounding housing stock, offering competitive positioning with potential value-add through targeted modernization.
According to CRE market data from WDSuite, amenity access benchmarks strong nationally (parks, groceries, restaurants), reinforcing livability advantages that help with leasing velocity and retention. Near-term risks include affordability pressure (neighborhood rent-to-income near the higher end) and safety metrics that trail national norms; both can be managed with disciplined rent setting, resident services, and security best practices.
- High renter concentration and 94.2% neighborhood occupancy support demand depth
- 1982 vintage newer than local average; scope for value-add modernization
- Strong neighborhood amenity access aids leasing velocity and retention
- High-cost ownership market reinforces renter reliance and potential pricing power
- Risks: affordability pressure and below-average safety metrics require active management