| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 28th | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 619 Howard Ave, Brooklyn, NY, 11212, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1990 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
619 Howard Ave Brooklyn Multifamily amid High Renter Base
Neighborhood metrics point to a deep renter pool and steady occupancy at the area level, according to WDSuite’s CRE market data, supporting screening for stable cash flow rather than speculative lease-up. While building-specific performance may vary, the surrounding Urban Core fabric indicates durable renter demand.
Livability supports renter appeal in this Urban Core location of Brooklyn. Amenity access is a clear strength — neighborhood indicators for groceries, pharmacies, parks, and dining rank among the highest nationally, which typically supports resident retention and reduces turnover friction for multifamily assets. By contrast, average school ratings trail national norms, an item to consider for family-oriented unit mixes.
The asset’s 1990 vintage is newer than the neighborhood’s older building stock (average construction year skews pre‑war), giving this property relative competitiveness versus aging comparables; investors should still plan for system modernization and common-area refreshes to maintain positioning.
At the neighborhood level, occupancy is stable in the low‑90s, and renter-occupied housing shares are high, indicating a sizable tenant base for workforce and market-rate product. For investors, a high renter concentration suggests depth of demand across unit types, supporting leasing durability through cycles.
Within a 3‑mile radius, demographics show recent population growth and an increase in households, with forecasts indicating continued gains and smaller average household sizes. This points to a larger tenant base and more renters entering the market, which can support occupancy stability and reduce downtime between turns. Elevated home values relative to incomes in this part of the New York metro reflect a high‑cost ownership market, which tends to sustain reliance on multifamily housing; however, rent-to-income levels signal affordability pressure, calling for proactive lease management and renewal strategies.
Safety indicators for the surrounding neighborhood trail national benchmarks, and the area does not rank among the safer parts of the New York metro. National comparisons place the neighborhood in a lower safety percentile, so underwriting should reflect elevated operating vigilance and resident-experience considerations.
Recent trends offer some improvement signals: both property and violent offense rates have moved lower year over year, according to WDSuite’s CRE market data. While these directional declines are constructive, investors should focus on on-site security practices, lighting, and partnerships with community resources when assessing retention and marketing strategies.
Proximity to major employers in finance, ratings, and consumer goods supports a commuter-friendly renter base and helps underpin leasing stability. Nearby anchors include Prudential, Dr Pepper Snapple Group, AIG, S&P Global, and Guardian Life.
- Prudential — insurance (3.6 miles)
- Dr Pepper Snapple Group — consumer goods (5.2 miles)
- Aig — insurance (5.3 miles) — HQ
- S&P Global — financial data & ratings (5.3 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.4 miles) — HQ
619 Howard Ave is situated in an amenity‑rich Brooklyn neighborhood with a high share of renter-occupied housing, supporting consistent tenant demand across cycles. The 1990 construction is newer than much of the surrounding pre‑war stock, providing relative positioning advantages while leaving room for targeted capital projects to enhance competitiveness. Homeownership costs in this part of the metro remain elevated, which reinforces reliance on multifamily housing, while neighborhood occupancy trends are steady rather than speculative, according to CRE market data from WDSuite.
Within a 3‑mile radius, recent growth in population and households, with forecasts pointing to further expansion and smaller household sizes, suggests a larger renter pool and support for occupancy stability. Investors should also account for affordability pressure (rent-to-income) and the area’s below-average school and safety indicators when calibrating rents, concessions, and retention programming.
- High neighborhood renter concentration supports leasing depth and renewal potential
- 1990 vintage outpositions older local stock; scope for value through modernization
- Amenity-rich Urban Core location aids resident retention and pricing power
- Regional employment access to finance and corporate services underpins demand
- Risks: affordability pressure and below-average safety/schools require prudent lease and OPEX strategies