| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 56th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 853 Halsey St, Brooklyn, NY, 11233, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2004 |
| Units | 21 |
| Transaction Date | 2008-12-09 |
| Transaction Price | $325,000 |
| Buyer | 851-853 HALSEY LLC |
| Seller | A & E REALTY HOLDINGS CORP |
853 Halsey St, Brooklyn Multifamily Investment
Urban-core renter demand and amenity density support stable leasing, according to WDSuite’s CRE market data, with the neighborhood showing mid-90s occupancy and a deep renter base. Newer construction for the area adds competitive positioning versus older stock.
Located in Brooklyn’s Urban Core, the property sits in a neighborhood rated A and ranked 86 of 889 within the New York–Jersey City–White Plains metro—competitive among metro neighborhoods. Amenity access is a clear strength, with neighborhood metrics placing in the top quartile nationally for groceries, cafes, pharmacies, parks, and restaurants, which generally supports renter retention and day-to-day convenience.
Neighborhood occupancy is around 95%, placing above the national median and indicating consistent leasing velocity for comparable assets. The share of housing units that are renter-occupied is high (about seven in ten), signaling a durable tenant base and depth of demand for multifamily units rather than ownership. Median contract rents in the area have risen over the past five years, while the rent-to-income profile suggests some affordability pressure that owners can manage through thoughtful lease renewal strategies.
Within a 3-mile radius, demographics point to population growth, an increase in households, and higher incomes versus five years ago, expanding the potential renter pool and supporting occupancy stability. Forecasts over the next several years point to continued household gains and income growth, which typically underpin steady demand for well-located apartments.
The building was constructed in 2004, materially newer than the neighborhood’s older housing stock (average vintage early 1930s). This relative youth should enhance competitive positioning versus legacy buildings, though investors should plan for mid-life system updates and select modernization to support rentability and operating efficiency.
Elevated home values in the neighborhood and a high value-to-income environment mean ownership is costly, which tends to reinforce reliance on rental housing and can support pricing power when paired with strong amenity access and employment proximity.
Safety indicators are mixed. The neighborhood’s crime rank is 373 out of 889 within the metro, roughly mid-pack locally, while national comparisons place the area below the national median for safety. Recent trend data shows improvement, with estimated violent and property offense rates declining year over year, which is a positive directional signal to monitor.
For underwriting, a prudent approach is to compare current, neighborhood-level trends against peer Brooklyn sub-areas and to incorporate property-level measures (access control, lighting, tenant engagement) that can support resident comfort and retention.
Proximity to large employers in finance, insurance, transportation, and media supports weekday demand and commute convenience for renters. Notable nearby employers include Prudential, JetBlue Airways, AIG, S&P Global, and Yahoo.
- Prudential — financial services (3.7 miles)
- Jetblue Airways — airline (4.6 miles) — HQ
- Aig — insurance (4.8 miles) — HQ
- S&P Global — financial data & ratings (4.9 miles) — HQ
- Yahoo — digital media (4.9 miles)
This 21-unit asset at 853 Halsey St benefits from an amenity-rich Urban Core location, a renter-dominated neighborhood, and occupancy that has held in the mid-90s, according to CRE market data from WDSuite. The 2004 vintage is newer than much of the surrounding stock, offering a relative edge on building systems and curb appeal while leaving room for targeted value-add to meet current renter preferences.
Within a 3-mile radius, population and household growth, coupled with rising incomes, point to a larger tenant base over time. Elevated ownership costs in the neighborhood further sustain reliance on multifamily housing, supporting lease-up and renewal prospects. Risk factors include below-national-median safety readings and pockets of affordability pressure, suggesting active asset management around renewals and resident experience.
- Urban-core location with top-quartile amenity access supporting retention
- Mid-90s neighborhood occupancy and high renter-occupied share underpin demand
- 2004 construction offers competitive positioning versus older local stock with selective value-add upside
- 3-mile demographic growth and elevated ownership costs reinforce multifamily reliance
- Risks: below-national-median safety and affordability pressure require proactive leasing and operations