| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 86th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 80 Greene Ave, Brooklyn, NY, 11238, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1982 |
| Units | 97 |
| Transaction Date | 2024-06-13 |
| Transaction Price | $35,000,000 |
| Buyer | FT GREENE TB HOUSING DEVELOPMENT FUND CO |
| Seller | GREENE AVENUE ASSOCIATES |
80 Greene Ave Brooklyn Multifamily Investment Opportunity
Neighborhood indicators point to durable renter demand and deep amenities around the property, according to WDSuite’s CRE market data. These statistics reflect neighborhood conditions rather than the property itself and suggest steady leasing potential supported by an Urban Core setting.
The Urban Core location delivers exceptional daily convenience. Amenity access ranks 62 out of 889 metro neighborhoods—Top quartile nationally by WDSuite’s translation—backed by national 99th–100th percentiles for restaurants, cafes, groceries, parks, and pharmacies. This density supports walk-to-amenity living that typically aids resident retention and leasing velocity.
Median home values in the neighborhood sit at elevated levels with a high value-to-income ratio (both in the 90th-plus national percentiles). In investor terms, this is a high-cost ownership market that tends to sustain reliance on rental housing and can support pricing power when managed carefully. Rent-to-income metrics are moderate for the area, which can help with lease management and renewal stability.
Neighborhood-level renter concentration is 61.6% of housing units (ranked 186 of 889, Top quartile nationally by translation), indicating a substantial renter-occupied base and deeper tenant pool for multifamily assets. Overall occupancy for the neighborhood is around the national midpoint with a slight 5-year softening, so disciplined marketing and unit positioning remain important.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, with household sizes trending smaller. This points to a larger tenant base and potential demand for efficient units, supporting occupancy stability. Average school ratings trend above national norms, which can bolster family-oriented renter demand without being the primary driver for this Urban Core location.
Safety outcomes compare weaker than many neighborhoods nationwide, with crime measures in lower national percentiles. Relative to the 889 neighborhoods in the New York–Jersey City–White Plains metro, the neighborhood’s crime rank sits near the metro middle. Recent year-over-year declines in both violent and property offense estimates suggest gradual improvement, but investors should underwrite with prudent assumptions and reflect local management practices.
Proximity to major corporate employers in Lower Manhattan and Downtown Brooklyn supports commuter convenience and a diversified white-collar renter base. The employers below represent nearby anchors that can help sustain leasing and retention.
- AIG — insurance & financial services (2.4 miles) — HQ
- S&P Global — financial data & ratings (2.4 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (2.5 miles) — HQ
- Amtrust Financial Services — financial services (2.6 miles) — HQ
- Robert Half International — professional staffing (2.6 miles)
80 Greene Ave offers investors an Urban Core location with dense amenities, a sizable renter-occupied base, and high-cost homeownership dynamics that reinforce rental demand. Neighborhood-level NOI per unit ranks among the strongest locally, and, according to CRE market data from WDSuite, occupancy sits near broader averages while renter concentration and amenity depth support ongoing demand. The 1982 vintage is newer than much of the surrounding housing stock from the 1950s, positioning the asset as relatively competitive versus older buildings, though selective modernization and system upgrades may still be warranted.
Within a 3-mile radius, population and households have increased and are projected to expand further, indicating a larger tenant base and potential leasing durability. Elevated ownership costs, coupled with moderate rent-to-income dynamics, can aid pricing discipline and retention, while investors should still plan for operational execution in a market where neighborhood safety metrics trail national benchmarks.
- Urban Core amenity density (restaurants, parks, groceries) supports leasing and retention
- Large renter-occupied share indicates a deeper tenant base and demand stability
- High-cost ownership market underpins multifamily demand and potential pricing power
- 1982 vintage is newer than neighborhood average, with targeted value-add potential
- Risk: safety metrics are weaker nationally; plan for security-forward operations and underwriting