| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 80th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 783 Marcy Ave, Brooklyn, NY, 11216, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
783 Marcy Ave, Brooklyn Multifamily Investment Outlook
Neighborhood fundamentals point to durable renter demand and mid-90s occupancy at the area level, according to WDSuite’s CRE market data. In a high-amenity Brooklyn location, investors can underwrite steady leasing supported by a deep tenant base.
The property sits within an Urban Core Brooklyn neighborhood rated A+ and ranked 26th among 889 metro neighborhoods, signaling competitive positioning within New York-Jersey City-White Plains. Amenity access is a standout: groceries, parks, pharmacies, cafes, and restaurants all register in the top quartile nationally, which typically supports renter retention and lease-up velocity for walkable assets.
Area occupancy is reported around the mid-90s and has improved over five years, per WDSuite. The neighborhood’s renter-occupied share is high (72.3%), indicating a deep pool of renter households and consistent multifamily absorption. Median contract rents are elevated for the metro context, while the neighborhood’s rent-to-income ratio suggests room for disciplined rent management without outsized affordability pressure, aiding renewal strategies.
Within a 3-mile radius, demographics show recent population and household growth with a continued increase in higher-income cohorts. Forecasts point to further population gains and a larger household count alongside smaller average household sizes, expanding the renter pool and supporting occupancy stability. Average school ratings are roughly mid-pack nationally, which is typical for dense urban submarkets and helps sustain a diverse tenant mix.
For investors, two comparative datapoints stand out: exceptionally strong neighborhood-level NOI per unit (ranked 2nd of 889 in the metro) and very high for-sale home values. Elevated ownership costs in this part of Brooklyn generally reinforce reliance on multifamily housing, while NOI performance indicates attractive income potential relative to other metro neighborhoods, based on CRE market data from WDSuite.
Safety indicators trail national averages here, with crime metrics placing the neighborhood below national percentiles. Within the metro context, ranks are mid-pack (e.g., crime measures are not among the strongest performers out of 889 neighborhoods), so prudent operating practices and security measures should be part of underwriting assumptions.
Recent trends are directionally positive: both violent and property offense rates declined over the past year. For investors, this improvement is constructive, but it remains important to budget for on-site security, lighting, and access controls and to monitor submarket-level trends over the hold period.
Proximity to major employers in Lower Manhattan and Downtown Brooklyn supports a commuter-friendly renter base, particularly in finance and insurance. The nearby anchors below help sustain leasing and retention for workforce and professional tenants.
- Aig — insurance (3.3 miles) — HQ
- S&P Global — financial information (3.4 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.5 miles) — HQ
- Amtrust Financial Services — insurance (3.5 miles) — HQ
- Assurant — insurance (3.6 miles) — HQ
783 Marcy Ave is a 24-unit asset built in 1972, positioned in an A+ Urban Core neighborhood with robust renter demand drivers. Elevated amenity density, a high share of renter-occupied housing, and neighborhood occupancy in the mid-90s collectively support income stability. The property’s vintage suggests planning for systems modernization and selective interior upgrades, creating value-add potential in a submarket where elevated ownership costs sustain reliance on rental housing.
According to CRE market data from WDSuite, the neighborhood ranks 2nd of 889 metro areas for NOI per unit, and for-sale home values are among the highest nationally—conditions that can underpin pricing power when paired with professional management and measured capex. Demographic trends aggregated within a 3-mile radius indicate population and household growth, with forecasts pointing to further renter pool expansion and income gains that can support renewals over a long-term hold.
- Urban Core location with top-tier amenities and deep renter base supports occupancy stability.
- Neighborhood-level NOI per unit ranks 2nd of 889 in the metro, pointing to strong income potential.
- 1972 vintage offers value-add through systems upgrades and targeted interior renovations.
- High-cost ownership market reinforces reliance on rentals, aiding retention and pricing discipline.
- Risks: safety metrics lag national norms; budget for security and capex to protect NOI.