| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 83rd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 586 President St, Brooklyn, NY, 11215, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2002 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
586 President St Brooklyn Multifamily Investment Profile
Neighborhood-level occupancy has remained stable and renter demand is supported by strong incomes, according to WDSuite’s CRE market data. This positioning in Brooklyn s Urban Core offers durable leasing fundamentals rather than outsized volatility.
Situated in Brooklyn s Urban Core, the immediate neighborhood scores in the top tier among 889 New York–Jersey City–White Plains neighborhoods (A+ rating, rank 31/889), signaling strong overall livability and investment fundamentals. Amenity access is a standout—restaurants, parks, pharmacies, groceries, and cafes are all abundant, placing the area firmly in the top quartile nationally and competitive at the metro level. For investors, this depth of daily-needs and lifestyle amenities tends to support resident retention and steady leasing.
Renter concentration at the neighborhood level is a majority of housing units being renter-occupied, which indicates a deep tenant base for multifamily. Within a 3-mile radius, population and household counts have increased over the past five years, with projections pointing to further household growth and smaller average household sizes—conditions that typically expand the renter pool and support occupancy stability.
Home values in the neighborhood sit at the higher end for the metro and are elevated by national standards, which generally sustains reliance on rental housing. Neighborhood-level rent growth has trended upward over the last five years, while a rent-to-income profile around the neighborhood median suggests manageable affordability pressure for many renters—favorable for lease retention and pricing discipline.
The property s 2003 construction is newer than much of the surrounding housing stock (which skews pre-war), offering relative competitiveness versus older buildings. Investors should still plan for normal-cycle modernization of systems and common areas to maintain positioning against newer product across the borough. These dynamics, combined with excellent access to schools (average ratings above national medians) and transit-rich Brooklyn connectivity, align with a balanced commercial real estate analysis for long-term hold strategies.
Safety indicators are mixed at present. Based on neighborhood benchmarks, overall crime measures sit below the national midpoint, indicating more exposure than top-performing areas. However, recent year-over-year estimates show double-digit declines in both property and violent offenses, suggesting directional improvement. Within the New York–Jersey City–White Plains metro, the area is best viewed as competitive but not top-tier on safety, with trendlines that investors should monitor over subsequent reporting periods.
As always, safety can vary block to block in dense urban settings; investors typically underwrite with updated comps and management strategies (lighting, access control, and tenant engagement) to support retention and asset performance over time.
The area draws from a deep Lower Manhattan–Brooklyn employment base that supports multifamily demand through commute convenience and professional services density. Nearby anchors include beverage, financial services, and information services employers listed below.
- Dr Pepper Snapple Group — beverage (1.8 miles)
- S&P Global — information services (2.3 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.4 miles) — HQ
- Aig — insurance (2.4 miles) — HQ
- Robert Half International — staffing & recruiting (2.4 miles)
586 President St is a 27-unit asset positioned in a high-amenity Brooklyn neighborhood where renter demand is reinforced by elevated ownership costs and steady household growth within a 3-mile radius. According to CRE market data from WDSuite, neighborhood occupancy is healthy and renter-occupied housing remains a majority, underscoring depth of the tenant base. The 2003 vintage is newer than much of the surrounding stock, providing a competitive edge versus older walk-ups while still warranting targeted modernization to keep pace with newer product.
Directional improvement in estimated crime measures, strong income profiles, and lifestyle convenience support long-term leasing stability. Key risks to underwrite include urban safety variability and capex for systems as the asset moves deeper into its lifecycle, but the location fundamentals and affluent renter pool point to durable demand through cycles.
- Amenity-rich A+ neighborhood with competitive metro ranking supports retention and steady leasing.
- Majority renter-occupied housing and projected household growth within 3 miles expand the tenant base.
- Elevated ownership costs reinforce reliance on rental housing, aiding pricing discipline.
- 2003 vintage out-positions older local stock; plan selective modernization to stay competitive.
- Risks: safety metrics below national midpoint in parts of the area and normal-cycle capex needs.