| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 37th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 590 Dekalb Ave, Brooklyn, NY, 11205, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1984 |
| Units | 111 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
590 Dekalb Ave, Brooklyn Multifamily in Urban Core
Neighborhood fundamentals point to durable renter demand—renter-occupied share is high and occupancy in the surrounding area remains in the low-90s, according to WDSuite’s CRE market data—supporting a steady tenant base near Bed-Stuy/Clinton Hill.
The property sits within an Urban Core pocket of Brooklyn that rates A- and ranks 137 out of 889 metro neighborhoods—competitive among New York-Jersey City-White Plains subareas—per WDSuite. Amenity density is a standout with groceries, pharmacies, parks, and restaurants all in very high national percentiles, which supports leasing velocity and day-to-day convenience for residents.
Neighborhood occupancy is around the low-90s with only modest movement over the past five years, indicating resilient demand for rental units even as supply and pricing adjust. At the neighborhood level, average NOI per unit ranks near the top of U.S. neighborhoods, suggesting strong income performance conditions that well-operated assets can capture.
Tenure patterns favor multifamily: a large share of housing units are renter-occupied, pointing to a deep tenant pool and consistent leasing activity. Elevated home values in this area of Kings County reinforce renter reliance on apartments, which can aid retention and support pricing power when managed with attention to lease renewals and concessions.
Within a 3-mile radius, demographics show population and household growth with a rising share of higher-income households. This expands the renter pool and supports occupancy stability, while smaller forecast household sizes indicate continued demand for studios and smaller formats. School ratings in the neighborhood trail national averages, which is more relevant to family-targeted unit mixes than to efficiency-heavy inventories.
Safety trends are mixed. The neighborhood’s crime rank is 173 out of 889 metro neighborhoods, indicating higher reported crime relative to many parts of the New York metro. Nationally, it sits below the midpoint for safety.
Recent momentum is constructive: both violent and property offense rates show meaningful one-year declines, placing the neighborhood’s improvement pace above many areas nationwide. For underwriting, investors often account for these trends with security features, lighting, and resident engagement, while monitoring continued movement relative to metro peers.
Nearby anchor employers in finance and insurance create a robust white-collar employment base supporting renter demand and commute convenience for residents. Key headquarters within a roughly 3-mile band include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- AIG — insurance (2.95 miles) — HQ
- S&P Global — financial data & ratings (3.08 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.12 miles) — HQ
- Amtrust Financial Services — insurance (3.14 miles) — HQ
- Assurant — insurance (3.20 miles) — HQ
Built in 1984, the asset is slightly newer than the neighborhood’s average vintage, positioning it competitively versus older stock while still leaving room for targeted modernization of common areas and building systems. Renter concentration is high in the surrounding neighborhood and occupancy sits in the low-90s, supporting steady absorption and lease retention. Elevated ownership costs in this part of Kings County further sustain rental demand and can reinforce pricing power when paired with disciplined renewal strategies.
Within a 3-mile radius, recent population and household growth point to a larger tenant base, with forecasts indicating continued renter pool expansion and smaller average household sizes that can favor efficiency-oriented unit mixes. According to CRE market data from WDSuite, amenity density and neighborhood-level income performance are strong relative to national norms, while school quality and safety sit below national medians—factors to incorporate into unit mix positioning, security, and operating plans rather than reasons to discount long-run demand.
- High renter-occupied share and resilient neighborhood occupancy underpin steady leasing
- 1984 vintage offers value-add potential via modernization and energy/system upgrades
- Strong amenity access and nearby white-collar employers support absorption and retention
- Elevated ownership costs reinforce apartment demand, aiding pricing power management
- Risks: below-median safety and school scores; manage with security, resident experience, and targeted marketing