| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 74th | Good |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 89 Carlton Ave, Brooklyn, NY, 11205, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2006 |
| Units | 23 |
| Transaction Date | 2005-09-14 |
| Transaction Price | $600,000 |
| Buyer | MANATUS DEVELOPMENT GROUP LLC |
| Seller | LIZZMORE DEIRDRIE C |
89 Carlton Ave Brooklyn Multifamily Investment
Positioned in an amenity-dense Urban Core pocket of Brooklyn with a high share of renter-occupied housing, the neighborhood supports durable tenant demand, according to WDSuite’s CRE market data. Elevated ownership costs nearby further sustain reliance on rentals, aiding occupancy stability and pricing discipline.
Located in Kings County’s Urban Core, the property sits in a neighborhood rated A and ranked 41 out of 889 metro neighborhoods, which is competitive among New York-Jersey City-White Plains, NY-NJ neighborhoods. Amenity access is a clear strength: neighborhood measures for restaurants, parks, groceries, pharmacies, and cafes sit in the top percentile nationally, supporting day-to-day convenience and renter retention.
Renter concentration is high, with a large share of housing units renter-occupied relative to both metro and national norms (96th percentile nationally). For investors, this indicates a deep tenant base and consistent multifamily leasing activity. Neighborhood occupancy is around the national midrange, suggesting stable—but actively managed—leasing conditions that reward disciplined operations and asset quality, based on CRE market data from WDSuite.
The asset’s 2006 vintage is newer than the neighborhood’s average construction year (1966), offering competitive positioning versus older housing stock. Investors can emphasize modern finishes and systems for leasing traction while planning for selective updates typical as mid-2000s buildings age.
Within a 3-mile radius, demographics point to a larger tenant base over time: population and households expanded over the past five years and are projected to increase further by 2028, implying ongoing renter pool expansion and support for occupancy. Median home values in the area are elevated relative to national levels, which tends to reinforce rental demand and can support pricing power, while rent-to-income levels suggest manageable affordability pressure that still warrants prudent lease management.
Schools in the area score below national norms on average, which may matter for family-oriented leasing segments; however, for urban professionals drawn by proximity to jobs and amenities, the surrounding live-work mix remains a core driver of demand.
Safety trends should be weighed alongside the neighborhood’s urban benefits. The area’s crime ranking sits in the less favorable half compared with 889 metro neighborhoods, and national comparisons place it below average for safety. That said, recent year-over-year declines in both property and violent offense rates indicate improving momentum, based on WDSuite’s CRE market data.
For underwriting, this suggests incorporating enhanced security features, lighting, and access controls, and monitoring local trendlines rather than relying on block-level assumptions.
Nearby financial and insurance headquarters within roughly two miles provide a strong white-collar employment base and short commutes that support renter demand and retention. Notable anchors include AIG, S&P Global, Guardian Life, AmTrust Financial Services, and Assurant.
- AIG — insurance (1.9 miles) — HQ
- S&P Global — financial information & ratings (2.0 miles) — HQ
- Guardian Life Ins. Co. of America — life insurance (2.0 miles) — HQ
- Amtrust Financial Services — insurance (2.1 miles) — HQ
- Assurant — insurance (2.1 miles) — HQ
89 Carlton Ave offers investors a 23-unit, mid-2000s asset in an A-rated, amenity-rich Brooklyn neighborhood. The building’s 2006 construction is newer than the area’s 1960s-average stock, supporting competitive positioning while leaving room for targeted upgrades as systems age. Neighborhood fundamentals show deep renter-occupied share and steady occupancy near the national midrange, with elevated home values reinforcing reliance on rentals. According to CRE market data from WDSuite, the surrounding area also posts top-tier amenity access and strong neighborhood-level NOI per unit context, signaling robust demand drivers for well-operated multifamily assets.
Within a 3-mile radius, population and households have grown and are expected to expand further by 2028, pointing to renter pool expansion that can support leasing and retention. Key risks to underwrite include below-average school ratings for family renters, safety metrics that trail national benchmarks despite recent improvement, and the need for continued asset modernization to maintain rent positioning.
- Newer 2006 vintage versus neighborhood average, with selective value-add potential
- High renter-occupied share and amenity density support stable tenant demand
- Elevated ownership costs nearby reinforce rental demand and pricing power
- 3-mile demographics indicate continued renter pool expansion through 2028
- Risks: below-average school scores, safety below national norms, and ongoing capex for aging systems