| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 95th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 65 Washington St, Brooklyn, NY, 11201, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2000 |
| Units | 59 |
| Transaction Date | 2010-11-01 |
| Transaction Price | $1,994,567 |
| Buyer | DUMBO PARTNERS B LLC |
| Seller | CAGE ASSOCIATES LLC |
65 Washington St Brooklyn NY Multifamily Opportunity
Positioned in a high-income, high-amenity Brooklyn enclave, the asset benefits from deep renter demand and premium home values that reinforce reliance on multifamily housing, according to WDSuite’s CRE market data from ongoing commercial real estate analysis.
The property sits within an Urban Core neighborhood in Brooklyn ranked 29th out of 889 metro neighborhoods, indicating top-tier location fundamentals. Amenities are dense (cafes, parks, grocers, and pharmacies scoring in the top national percentiles), which supports lease retention and sustained renter appeal. Average school ratings are strong, with the neighborhood’s schools ranked 1st among 889 locally and in the top percentile nationally, a draw for households prioritizing education.
Neighborhood rents and home values benchmark well above national norms (both near the top national percentiles), pointing to a high-cost ownership market that tends to sustain multifamily demand and pricing power. While neighborhood occupancy is below metro averages based on WDSuite’s CRE market data, the broader setting remains competitive due to location quality and income depth.
Within a 3-mile radius, demographics underscore a durable tenant base: population has grown in recent years with projections for continued population growth and a notable increase in households, even as average household size trends smaller. A high share of renter-occupied units within this radius indicates a deep pool of prospective tenants and supports occupancy stability for well-positioned assets.
Vintage context matters: built in 2000, the property is newer than the neighborhood’s average construction year of 1957. That positioning typically improves competitive standing versus older stock, while still leaving room for selective system upgrades or unit finishes to enhance long-term performance.
Safety indicators are mixed in context. Compared with the New York-Jersey City-White Plains, NY-NJ metro, the neighborhood’s overall crime rank is above the metro median (rank 371 out of 889), while national comparisons reflect lower percentiles, meaning safety outcomes trail many U.S. neighborhoods. Recent trend data shows improvement, with estimated property offenses declining about 22% year over year and violent offense rates edging down, according to CRE market data from WDSuite.
Investors should calibrate underwriting and asset management assumptions to neighborhood conditions, focusing on measures that support resident experience and retention while tracking the direction of local trends rather than block-level snapshots.
Proximity to major corporate employers supports a strong base of professional renters and commute convenience, notably across financial services and ratings agencies including AIG, S&P Global, AmTrust Financial Services, Guardian Life, and Assurant.
- AIG — insurance (0.87 miles) — HQ
- S&P Global — ratings & market intelligence (1.03 miles) — HQ
- Amtrust Financial Services — insurance (1.06 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (1.06 miles) — HQ
- Assurant — insurance (1.12 miles) — HQ
65 Washington St is a 59-unit asset averaging roughly 472 square feet per unit, positioned in a top-ranked Brooklyn neighborhood with exceptional amenity access and school quality. Built in 2000—newer than the local average vintage—the property can compete well against older stock while retaining potential for targeted modernization to sharpen leasing velocity and retention.
Based on CRE market data from WDSuite, elevated neighborhood home values and high incomes support multifamily demand, while the 3-mile radius shows population growth and a projected increase in households that expands the renter pool. Although neighborhood occupancy trends sit below metro averages, proximity to major employers and dense urban conveniences provides a counterbalance that can support stable performance with prudent operations.
- Top-tier Brooklyn location with elite amenities and school quality supports sustained renter demand.
- 2000 construction offers competitive positioning vs. older stock, with value-add potential via selective upgrades.
- High-cost ownership market and strong incomes underpin pricing power for well-managed units.
- 3-mile radius shows population growth and increasing households, expanding the renter base.
- Risk: neighborhood occupancy trails metro averages; underwriting should emphasize leasing execution and retention.