| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 37th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 74 S 4th St, Brooklyn, NY, 11249, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2009 |
| Units | 33 |
| Transaction Date | 2007-11-01 |
| Transaction Price | $4,000,000 |
| Buyer | 245 SMRR REALTY LLC |
| Seller | THE BRIDGE TOWER LLC |
74 S 4th St Brooklyn Multifamily Investment
Located in an Urban Core neighborhood with deep renter demand and top-tier amenities, this asset benefits from steady leasing dynamics; according to WDSuite’s CRE market data, neighborhood occupancy trends near the metro average while NOI per unit is among the strongest locally.
This Urban Core neighborhood ranks competitively within the New York-Jersey City-White Plains metro, with amenities placing in the top quartile among 889 metro neighborhoods and among the highest nationally. Dense coverage of groceries, pharmacies, parks, cafes, and restaurants supports resident convenience and helps sustain renter demand, based on CRE market data from WDSuite.
The area’s housing stock is older on average, yet the subject property was built in 2010, positioning it as newer than typical nearby inventory (1980 average). For investors, that suggests relatively strong competitive positioning versus older stock, while still planning for standard mid-life system updates or selective renovations over the hold.
Renter-occupied share is high at the neighborhood level, ranking in the top quartile among 889 metro neighborhoods, indicating a broad tenant base and potential for durable demand. Neighborhood occupancy tracks around the metro median, and median contract rents sit on the higher side for the region, reinforcing the importance of product quality and unit mix to maintain leasing velocity.
Within a 3-mile radius, population and households have grown in recent years, with forecasts pointing to continued expansion by 2028. This trajectory supports renter pool expansion and can underpin occupancy stability, though lease management should account for income dispersion across households and the premium positioning of the submarket.
Home values in the neighborhood are elevated relative to national norms, and value-to-income metrics are high. In investor terms, this high-cost ownership landscape tends to reinforce reliance on multifamily rentals, aiding tenant retention and pricing power, while the neighborhood’s rent-to-income profile warrants attentive renewals and concessions strategy to mitigate affordability pressure.
School ratings in the neighborhood trend below national averages, which may skew demand toward smaller-household renters and working professionals. For multifamily, this often aligns with strong absorption of well-located, transit-accessible units and supports stabilized occupancy when combined with the area’s amenity depth.
Safety indicators place the neighborhood below the national median for safety and in a higher-incidence tier within the 889-neighborhood NYC metro. That said, one-year trend data shows declines in both property and violent offense estimates, a constructive signal for near-term operating stability.
For investors, prudent measures such as active tenant screening, lighting and access controls, and coordination with local community initiatives can help support retention and day-to-day operations while monitoring ongoing trends.
Proximity to major employers supports commuter convenience and helps deepen the tenant base, particularly for workforce and professional renters. Nearby anchors include Yahoo, Con Edison (including headquarters), AIG (headquarters), and Netflix.
- Yahoo — technology/media (1.86 miles)
- Con Edison Distribution Engineering — utilities engineering offices (1.91 miles)
- Consolidated Edison — utilities (1.92 miles) — HQ
- Aig — insurance (2.14 miles) — HQ
- Netflix — media production/offices (2.18 miles)
Built in 2010 and located in a top-amenity Urban Core pocket of Brooklyn, the property is positioned against an older neighborhood vintage, which can translate into competitive appeal versus legacy buildings while budgeting for mid-life capital planning. The neighborhood shows high renter concentration and median rents on the higher end for the metro, suggesting depth of tenant demand paired with the need for disciplined lease management. According to CRE market data from WDSuite, neighborhood occupancy trends near the metro average while NOI per unit performance ranks among the strongest locally, aided by dense retail and service amenities.
Within a 3-mile radius, both population and households have increased with forecasts indicating further gains by 2028, supporting a larger tenant base over time. Elevated home values in the neighborhood reinforce reliance on multifamily housing, which can support pricing power and retention; however, the rent-to-income profile and modest school ratings call for thoughtful unit positioning, renewals strategy, and operating controls.
- Newer 2010 vintage relative to local stock, offering competitive positioning versus older assets
- High neighborhood renter concentration and dense amenities support durable leasing
- Elevated ownership costs locally reinforce renter reliance and potential pricing power
- 3-mile population and household growth trends support a growing tenant base
- Risks: below-median safety nationally and affordability pressure require active management