| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 83rd | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 593 6th Ave, Brooklyn, NY, 11215, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2009 |
| Units | 27 |
| Transaction Date | 2004-07-01 |
| Transaction Price | $3,100,000 |
| Buyer | PARK SLOPE PLAZA LLC |
| Seller | MAYNARD RICARDO |
593 6th Ave Brooklyn Multifamily in A+ Locale
This urban-core neighborhood shows a deep renter base and best-in-class amenity access that support steady occupancy, according to WDSuite’s commercial real estate analysis.
Situated in Brooklyn’s Urban Core, the neighborhood ranks 31 out of 889 metro neighborhoods (A+), placing it in the top quartile nationally for overall livability. Amenity access is a standout: restaurants, parks, groceries, pharmacies, and cafes all register at or near the top of national percentiles, signaling walkable convenience that tends to support renter retention and pricing power.
Neighborhood occupancy is 92.7% and the renter-occupied share is 53.2%, indicating a sizable tenant base. Within a 3-mile radius, households increased over the last five years and are projected to rise further, pointing to a larger renter pool and demand durability. Median contract rents in the neighborhood sit on the higher end regionally, while a rent-to-income profile near 0.18 suggests manageable affordability pressure for many higher-earning households; investors should still manage renewals thoughtfully to sustain lease stability.
Ownership costs are elevated (high value-to-income ratios and home values), which typically reinforces reliance on multifamily rentals and can aid lease retention. Average school ratings are above national norms, adding to neighborhood fundamentals for family renters seeking long-term stability.
The average neighborhood vintage skews older (1930s), while the subject property was built in 2009. The newer construction can be competitively positioned versus older local stock and may carry lower near-term capital needs; however, systems are now mid-life, so investors should plan for targeted modernization or common-area refreshes to maintain leasing strength.
Relative to the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is 189 out of 889, indicating it is competitive among metro neighborhoods. Compared with neighborhoods nationwide, safety metrics sit below the national median, but both violent and property offense rates show year-over-year declines, a constructive trend for long-term risk assessment.
For investors, the takeaway is directional improvement alongside metro-competitive positioning, which can support resident retention and marketing narratives without overreaching on block-level claims.
Proximity to diversified Manhattan and Brooklyn employment anchors supports renter demand through short commutes and a broad professional tenant base, including roles in beverages, financial services, and staffing listed below.
- Dr Pepper Snapple Group — beverage corporate offices (1.96 miles)
- S&P Global — financial information services (2.98 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.04 miles) — HQ
- Robert Half International — professional staffing (3.06 miles)
- Aig — insurance (3.11 miles) — HQ
Built in 2009 with 27 units averaging roughly 606 square feet, the property competes well against an older local stock profile while benefiting from a deep renter base and top-tier amenity density. Neighborhood occupancy is stable and the renter-occupied share indicates a broad tenant pool, while elevated home values in the area tend to sustain reliance on multifamily housing and support lease retention. Within a 3-mile radius, recent household growth and projected increases by 2028 point to a larger renter pool and steady leasing prospects.
According to CRE market data from WDSuite, this A+ neighborhood scores competitively within the metro and shows improving safety trends. Investors should plan for mid-life system updates typical for a 2009 vintage, balancing value-add potential with disciplined lease management given higher regional rents and the area’s high-cost ownership market.
- Newer-than-neighborhood stock (2009) offers competitive positioning versus older assets and potential capex efficiency.
- Deep renter base and stable neighborhood occupancy support demand resilience and lease retention.
- High-cost ownership environment reinforces multifamily reliance, aiding pricing power and renewal outcomes.
- Amenity-rich, walkable setting (top-tier nationally) aligns with urban-core renter preferences.
- Risks: affordability pressure at higher rent levels and safety metrics below national median, mitigated by improving trends and prudent lease strategy.