| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 83rd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 575 5th Ave, Brooklyn, NY, 11215, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
575 5th Ave, Brooklyn Multifamily Investment
Urban-core Brooklyn location with a deep renter base and above-median neighborhood occupancy supports steady leasing, according to WDSuite’s CRE market data.
Situated in an Urban Core setting of Brooklyn, the neighborhood ranks 31 out of 889 metro neighborhoods, placing it in the top quartile locally. Amenity density is a distinguishing feature: restaurants, groceries, pharmacies, parks, cafes, and childcare options score at or near the top nationally, reinforcing day-to-day convenience that helps multifamily properties attract and retain tenants.
Neighborhood occupancy is measured at 92.7% and has been broadly stable over the past five years, indicating resilient demand at the neighborhood level rather than the property itself. A renter-occupied share of housing units at 53.2% underscores a sizable tenant base that supports leasing velocity and renewal potential. Median household incomes benchmark near the top of U.S. neighborhoods while rent-to-income metrics sit closer to national mid-range, a combination that can bolster retention and reduce turnover risk.
Within a 3-mile radius, recent periods show steady population levels alongside growth in households, with forecasts through 2028 indicating population growth and a notable increase in households. Smaller average household sizes are expected, which typically expands the renter pool and supports occupancy stability for multifamily assets.
Ownership costs in the surrounding neighborhood are elevated by national standards, with home values benchmarking near the top nationally. In practice, that high-cost ownership market tends to reinforce reliance on rental housing and can provide pricing power for well-located multifamily communities.
Safety indicators for the neighborhood track below national medians, reflecting the realities of a dense urban location. However, recent year-over-year trends show improvement, with both property and violent offense rates declining according to WDSuite’s data. In the metro context (889 neighborhoods), the area is competitive but not top-tier on safety, and prudent operators typically account for security, lighting, and access control as part of standard asset management.
Proximity to a diverse set of corporate offices supports a strong commuter tenant base and leasing durability, including roles in beverages, financial services, and professional staffing that align with workforce housing demand in this part of Brooklyn.
- Dr Pepper Snapple Group — beverages (1.8 miles)
- S&P Global — financial information services (2.8 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.9 miles) — HQ
- Robert Half International — professional staffing (2.9 miles)
- Aig — insurance (3.0 miles) — HQ
Built in 2008, the property is newer than much of the surrounding housing stock, offering competitive positioning versus older buildings while leaving room for selective modernization over a hold period. Neighborhood fundamentals point to durable demand: renter concentration is substantial, occupancy at the neighborhood level sits modestly above the national median, and elevated ownership costs in the area sustain reliance on rentals. Based on CRE market data from WDSuite, amenity access is among the strongest in the region, which supports leasing and renewal performance.
Demographics aggregated within a 3-mile radius indicate stable population levels in recent periods with projections for population growth and a meaningful increase in households by 2028. That trajectory generally expands the tenant base and supports occupancy stability. Key considerations include standard capital planning for a 2008 vintage and thoughtful safety and access-control measures typical for dense urban assets.
- 2008 vintage positions the asset competitively versus older neighborhood stock, with potential to add value through targeted upgrades.
- Amenity-rich Urban Core location and top-tier neighborhood ranking support leasing velocity and renewal rates.
- Strong renter-occupied share and stable neighborhood occupancy underpin demand depth and pricing power.
- 3-mile forecasts point to population growth and more households, expanding the renter pool and reinforcing long-term demand.
- Risks: safety metrics track below national medians; investors should plan for security enhancements and ongoing system updates typical of a mid-2000s build.