| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 74th | Good |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 549 Myrtle Ave, Brooklyn, NY, 11205, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2012 |
| Units | 31 |
| Transaction Date | 2005-07-12 |
| Transaction Price | $2,140,000 |
| Buyer | E & M REALTY HOLDINGS LLC |
| Seller | MYRTLE EMERSON REALTY LLC |
549 Myrtle Ave Brooklyn 31-Unit Multifamily Asset
2012 construction in an Urban Core pocket where neighborhood occupancy trends sit near the national midpoint and renter demand is reinforced by elevated ownership costs, according to WDSuite’s CRE market data.
Positioned in Brooklyn’s Urban Core, the surrounding neighborhood rates A and ranks 41st among 889 metro neighborhoods, placing it in the top quartile locally. Amenity access is a standout: restaurants, groceries, parks, pharmacies, and cafes all index at or near the 99th–100th national percentiles, supporting daily convenience and leasing appeal.
Construction in the area skews older (average vintage 1966), so this property’s 2012 delivery offers a newer competitive set versus much of the local stock, with implications for lower near-term repositioning needs and marketability; investors should still plan for routine system updates as the asset approaches mid-life.
Multifamily fundamentals are mixed but serviceable. Neighborhood occupancy is roughly around the national midpoint and below the metro median, suggesting steady but competitive leasing conditions. Renter-occupied share is in the top quartile among 889 metro neighborhoods, indicating a deep tenant base and durable multifamily demand. High neighborhood home values (upper-90s national percentile) typically sustain reliance on rental housing, while contract rents benchmark high nationally, consistent with strong pricing power in well-located Brooklyn submarkets.
Within a 3-mile radius, demographics point to a growing and increasingly affluent renter pool. Population and families have expanded in recent years, households have grown faster than population (smaller household sizes), and forward-looking projections indicate continued household growth into 2028—supportive of tenant base expansion and occupancy stability. Income measures have trended higher, and rent-to-income metrics at the neighborhood level suggest manageable affordability pressure relative to many coastal gateways, aiding retention and lease management.
Schools rate below national averages, which can be a consideration for family renters, but the area’s dense amenities and employment access often skew demand toward young professionals and households prioritizing commute convenience and lifestyle.
Safety performance is below national averages based on neighborhood-level indicators, placing the area outside top tiers nationally. Compared with other neighborhoods in the New York–Jersey City–White Plains metro, it is not among the strongest performers, though recent year-over-year trends show double-digit declines in both violent and property offense estimates, indicating improvement momentum.
Investors should underwrite with conservative assumptions and consider proven on-site measures (lighting, access control, and resident engagement) that many urban-core assets use to support resident satisfaction and retention. Always evaluate property- and block-level conditions during due diligence to contextualize the broader neighborhood trend.
The location serves a deep professional employment base in Lower Manhattan and Downtown Brooklyn, supporting workforce housing dynamics and commute-friendly leasing. Nearby anchors include financial services and insurance headquarters that align with renter profiles seen locally.
- Aig — insurance (2.4 miles) — HQ
- S&P Global — financial information (2.5 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.6 miles) — HQ
- Amtrust Financial Services — insurance (2.6 miles) — HQ
- Assurant — insurance (2.6 miles) — HQ
549 Myrtle Ave offers a newer (2012) 31-unit asset in an A-rated Urban Core neighborhood where amenity density is top tier nationally and renter concentration ranks in the top quartile among 889 metro neighborhoods. While neighborhood occupancy trends are nearer the national midpoint and below the metro median, a large renter base, high-cost ownership landscape, and expanding 3-mile household counts underpin stable tenant demand. According to CRE market data from WDSuite, neighborhood contract rents benchmark high nationally, consistent with strong area pricing power.
Relative to the local 1960s-average vintage, the asset’s newer construction enhances competitive positioning versus older stock, though investors should plan for mid-life capital items over the hold. Household and income growth within 3 miles point to ongoing renter pool expansion and retention potential, while proximity to a dense cluster of financial and insurance employers supports weekday demand and leasing velocity.
- Newer 2012 construction versus an older area vintage, aiding competitiveness and marketability
- Amenity-rich Urban Core location with top-tier national access to food, parks, and services
- Large renter base and high ownership costs support demand depth and pricing power
- 3-mile household and income growth support occupancy stability and retention
- Risks: safety metrics below national averages and neighborhood occupancy below metro median