| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 86th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 560 Washington Ave, Brooklyn, NY, 11238, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
560 Washington Ave, Brooklyn Multifamily Investment
Positioned in an Urban Core pocket of Brooklyn with strong amenity access and high-income renter demand, the neighborhood shows mid-range occupancy stability and sustained pricing power, according to WDSuite’s CRE market data.
This address sits within a highly amenitized Urban Core neighborhood of the New York–Jersey City–White Plains metro. Amenity access ranks competitively among 889 metro neighborhoods, with restaurants, parks, groceries, and daily services placing the area in the top tier locally and among the strongest nationally. Average school ratings are above the national median, adding to day-to-day livability for households.
Renter demand is supported by a high renter concentration at the neighborhood level (61.6% of housing units are renter-occupied) and a deeper renter pool within a 3-mile radius (about three-quarters of units renter-occupied). Household incomes are elevated and home values are among the highest nationally, which tends to reinforce reliance on multifamily housing and support lease retention. Neighborhood occupancy is around the metro median, suggesting stable but competitive leasing conditions rather than easy absorption.
Within a 3-mile radius, population and households have grown over the past five years, with forecasts pointing to additional growth by 2028. This trajectory expands the tenant base and should help support occupancy and rent durability for well-positioned assets.
The property’s 2008 vintage is newer than the neighborhood’s older housing stock (average vintage mid‑20th century), which typically provides a competitive edge versus legacy buildings while still warranting periodic system updates or modernization to meet current renter expectations.
Relative to national benchmarks, reported violent and property offenses in the neighborhood are elevated, while recent year trends indicate modest improvement. Compared with metro peers, the neighborhood’s crime rank sits below the metro median (measured against 889 New York–area neighborhoods). Investors typically underwrite conservative common‑area security measures and leasing oversight in urban core locations with similar profiles.
- AIG — insurance (2.7 miles) — HQ
- S&P Global — financial information & ratings (2.8 miles) — HQ
- Dr Pepper Snapple Group — beverages (2.8 miles)
- Guardian Life Ins. Co. of America — insurance (2.8 miles) — HQ
- Robert Half International — staffing & consulting (2.9 miles)
560 Washington Ave offers a 23‑unit, 2008‑built asset in a high‑amenity Brooklyn micro‑location where elevated household incomes and nationally high home values bolster multifamily demand and lease retention. Neighborhood occupancy trends are near the metro middle, indicating stable but competitive leasing dynamics; meanwhile, neighborhood NOI per unit ranks among the strongest nationally, signaling potential for sustained revenue performance for well‑managed assets.
The asset’s newer vintage versus the area’s older housing stock provides a relative quality and efficiency edge, while ongoing modernization can further differentiate it in a market with dense renter demand. Based on CRE market data from WDSuite, the surrounding 3‑mile area shows recent and projected population and household growth, expanding the tenant base and supporting long‑term rentability.
- Newer 2008 construction relative to local stock supports competitive positioning and reduces near‑term capex versus older comparables.
- High‑income renter base and expensive ownership market reinforce rental demand and lease retention potential.
- Strong neighborhood NOI per unit performance indicates revenue durability for well‑operated assets.
- Expanding population and household counts within 3 miles support a larger tenant pool and occupancy stability.
- Risks: elevated crime relative to national norms and mid‑range occupancy suggest the need for active management and prudent underwriting.