| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 52nd | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 575 Central Ave, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2006 |
| Units | 67 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
575 Central Ave Brooklyn Workforce Multifamily Investment
Stabilized renter demand and mid-90s neighborhood occupancy support consistent leasing, according to WDSuite s CRE market data. Newer construction for the area positions this asset to compete well against older local stock.
The property sits in an Urban Core pocket of Brooklyn rated A and ranked 97th of 889 neighborhoods in the New York Jersey City White Plains metro, placing it competitive among metro peers. Amenity access is a clear strength: grocery, dining, parks, pharmacies, and childcare density all register in the high national percentiles (many in the upper 90s), translating into walkable daily convenience that supports resident retention.
The asset s 2006 vintage is newer than the neighborhood s average construction year (1948), which gives it a relative edge versus older buildings nearby. Investors should still plan for mid-life system updates and selective modernization, but the vintages suggest less near-term capital intensity than pre-war stock while maintaining competitive positioning.
Housing in the neighborhood skews renter-occupied (about three-quarters of units), indicating a deep tenant base for multifamily owners. Neighborhood occupancy is around the mid-90% range and has improved over the last five years, which supports leasing stability rather than rapid turnover. Elevated home values versus incomes (high-cost ownership market) tend to reinforce reliance on rentals, which can sustain demand and pricing power over time.
Within a 3-mile radius, demographic data show modest population growth alongside a faster increase in households and a gradual reduction in average household size, pointing to a larger renter pool and ongoing demand for smaller-unit formats. Median rents have risen in recent years, and, based on CRE market data from WDSuite, rent-to-income ratios signal some affordability pressure an important consideration for renewal strategies and concessions management.
School ratings in the immediate area track below national averages, which is typical for dense urban districts and may matter more to family renters; positioning toward singles and couples can offset this. Overall, compared with metro and national trends, the location s amenity richness and renter concentration are positives for multifamily demand, while affordability management remains a key operator consideration.
Safety indicators are mixed. Relative to the 889 neighborhoods in the New York Jersey City White Plains metro, this area s crime rank places it around the lower third (rank 265 of 889 indicates higher crime than many peers). Nationally, the neighborhood sits below the midrange for safety, with violent and property offense rates tracking in lower national percentiles.
Trendwise, recent year-over-year data show meaningful declines in both violent and property offense estimates, placing these improvements above the national median for rate-of-change. For investors, this suggests risk that warrants standard security, lighting, and access-control measures, but also some positive momentum that can aid resident retention and leasing if the trend continues.
Nearby corporate employers provide a broad white-collar demand base and commute convenience that can support leasing stability, including Prudential, JetBlue Airways, AIG, Con Edison Distribution Engineering, and Yahoo.
- Prudential insurance (3.4 miles)
- Jetblue Airways airline HQ and corporate (4.5 miles) HQ
- Aig insurance (5.1 miles) HQ
- Con Edison Distribution Engineering utilities engineering offices (5.1 miles)
- Yahoo media & technology offices (5.1 miles)
575 Central Ave is a 67-unit, 2006-vintage asset positioned in a high-amenity Urban Core location where renter households dominate and neighborhood occupancy trends in the mid-90% range. Compared with older local stock, the property s newer construction should compete well while still warranting typical mid-life reinvestment planning. Elevated ownership costs in the surrounding area and a growing household base within 3 miles support a durable tenant pipeline and leasing resilience.
According to CRE market data from WDSuite, the neighborhood ranks competitively within the metro and posts strong national amenity percentiles, factors that can underpin absorption and retention. At the same time, rent-to-income ratios indicate affordability pressure, school ratings skew low, and safety metrics require prudent on-site management all manageable risks with experienced operations and targeted capital.
- Newer 2006 vintage versus area s older stock supports competitive positioning with moderate near-term capex
- High amenity access and renter concentration bolster demand depth and lease retention
- 3-mile radius shows population and household growth, expanding the renter pool for sustained occupancy
- High-cost ownership market reinforces multifamily reliance and potential pricing power
- Risks: affordability pressure, below-average school ratings, and safety requiring standard security/operations focus