| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 78th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 575 Grand Ave, Brooklyn, NY, 11238, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2001 |
| Units | 27 |
| Transaction Date | 1999-12-27 |
| Transaction Price | $250,000 |
| Buyer | FOOD FIRST HSNG DEVELOPMENT FUND CO INC |
| Seller | KNOX HOMES LLC |
575 Grand Ave Brooklyn Multifamily in Core Location
Positioned in an amenity-rich, urban-core neighborhood with renter demand supported by high-cost ownership and a large tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady and renter-occupied share is elevated, underscoring depth of demand rather than property-level performance.
The property sits in an Urban Core pocket of Brooklyn that ranks competitive among New York-Jersey City-White Plains neighborhoods (34 out of 889), reflecting strong location fundamentals. Amenities are a standout: restaurants, grocery stores, cafes, pharmacies, and parks all benchmark in the top tier nationally, supporting daily convenience and walkable lifestyle appeal for renters. Average school ratings hover near the national middle, offering basic coverage without being a primary demand driver.
Neighborhood-level occupancy is approximately 92%, landing around national mid-range, while the renter-occupied share is high (neighborhood: upper 70% range; 3-mile radius: roughly three-quarters of units renter-occupied). For multifamily investors, that concentration signals depth of tenant demand and supports leasing stability, though pricing still needs to align with household incomes to sustain retention. Median contract rent at the neighborhood level sits in a higher national percentile, consistent with the area’s quality-of-life positioning.
Within a 3-mile radius, WDSuite’s data indicate population growth over the last five years alongside an increase in households, with a projected expansion through 2028. A gradually smaller average household size points to more households in the market and a broader renter pool, which can help support occupancy durability and leasing velocity over time. Median household incomes in the area are strong and rising, which can underpin effective rent levels, while a rent-to-income ratio near the low-20% range suggests manageable affordability pressure relative to many coastal submarkets.
Elevated home values (top national percentile for the neighborhood) define a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and can aid lease retention. The asset’s 2001 construction is newer than the neighborhood’s older housing stock (average vintage 1940s), positioning it as competitive against legacy buildings while still warranting typical mid-life modernization planning to maintain appeal and operating efficiency.
Safety benchmarks are mixed. Neighborhood crime metrics sit below national median safety levels, with violent offense readings in a low national percentile; however, recent year-over-year trends show double-digit declines in both violent and property offense estimates. For investors, the takeaway is that safety remains a monitoring item, but the directional improvement is constructive at the neighborhood scale rather than a property-specific statement.
The area draws on a dense, diversified employment base in nearby Manhattan and Brooklyn. Proximity to corporate offices such as Dr Pepper Snapple Group, AIG, S&P Global, Guardian Life, and Robert Half supports a sizable commuter tenant pool and helps leasing stability for workforce and professional renters.
- Dr Pepper Snapple Group — beverages (2.9 miles)
- Aig — insurance (3.0 miles) — HQ
- S&P Global — financial data & ratings (3.0 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.1 miles) — HQ
- Robert Half International — staffing & recruiting (3.2 miles)
575 Grand Ave offers investors exposure to a high-amenity Brooklyn location where the neighborhood benchmarks competitive within the metro and supports durable renter demand. Based on CRE market data from WDSuite, neighborhood occupancy is around the low-90% range and the renter-occupied share is elevated, reinforcing depth of the tenant base. The 2001 vintage is newer than much of the surrounding stock, creating a relative advantage versus older buildings and a clear path for targeted modernization to sustain competitiveness.
A 3-mile radius shows population and household growth with rising incomes, while the neighborhood’s high-cost ownership environment typically sustains reliance on multifamily rentals—supporting lease retention and pricing power when managed with attention to affordability signals. Safety indicators remain below national medians but are improving, suggesting a watch item rather than a structural impediment.
- Urban-core location with top-tier amenity access and metro-competitive fundamentals
- Neighborhood occupancy around low-90% with high renter concentration supporting demand depth
- 2001 construction offers an edge over older local stock with scope for targeted upgrades
- 3-mile growth in households and incomes expands the renter pool and supports leasing
- Risk: safety metrics below national medians—improving but should be monitored in underwriting