| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 55th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 90 Sullivan Pl, Brooklyn, NY, 11225, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 30 |
| Transaction Date | 2016-08-24 |
| Transaction Price | $21,500,000 |
| Buyer | 90 SULLIVAN OWNER LLC |
| Seller | SULLIVAN 90 HOLDINGS LLC |
90 Sullivan Pl, Brooklyn NY Multifamily Investment
Neighborhood-level indicators point to durable renter demand and amenity depth supporting lease-up and retention, according to WDSuite s CRE market data. Metrics cited refer to the surrounding neighborhood, not the property itself.
Located in Brooklyn s Urban Core, the neighborhood ranks 88 out of 889 metro neighborhoods, placing it in the top quartile locally for overall performance. Amenity access is a clear strength: grocery, restaurant, and everyday services density trends among the highest nationally, which supports renter convenience and competitive positioning for multifamily assets.
Renter-occupied housing is a dominant tenure pattern (neighborhood-level renter concentration is in the upper national percentiles), signaling a deep tenant base and reducing leasing volatility for appropriately positioned assets. Neighborhood occupancy is near the national median to modestly above, supporting operational stability while leaving room for asset-specific value creation.
Within a 3-mile radius, population and household counts have grown in recent years, with forecasts calling for continued expansion and smaller average household sizes. For investors, this points to an expanding renter pool and steady absorption potential, particularly for well-managed units that align with income trends in the area.
Home values in the neighborhood sit at elevated levels versus national norms, which typically sustains renter reliance on multifamily housing and can support pricing power where rent-to-income remains manageable. The average neighborhood building stock skews older, while this property s 2007 vintage offers a competitive edge versus pre-war inventory; investors should still plan for mid-life system upgrades and selective modernization to maintain positioning against newer deliveries.
Safety trends should be evaluated with care. The neighborhood s crime rank is 282 out of 889 metro neighborhoods, indicating higher crime levels than much of the metro. Compared with neighborhoods nationwide, overall safety stands below average; however, recent year-over-year estimates indicate meaningful declines in both violent and property offenses, suggesting improvement momentum. These figures reflect neighborhood conditions, not the property.
Proximity to major employers supports workforce-driven renter demand and commute convenience for residents. Nearby anchors include Dr Pepper Snapple Group, S&P Global, AIG, Guardian Life, and Robert Half International.
- Dr Pepper Snapple Group corporate offices (3.3 miles)
- S&P Global corporate offices (3.8 miles) HQ
- Aig corporate offices (3.8 miles) HQ
- Guardian Life Ins. Co. of America corporate offices (3.9 miles) HQ
- Robert Half International corporate offices (3.9 miles)
This 30-unit property s 2007 construction stands newer than much of the surrounding neighborhood stock, offering competitive appeal versus older assets while calling for prudent mid-cycle capital planning. Neighborhood data indicate strong renter concentration and amenity access, with occupancy trends modestly above national baselines; together, these factors can support stable operations and targeted rent optimization, based on CRE market data from WDSuite.
Within a 3-mile radius, recent and projected gains in population, households, and incomes point to a larger tenant base and ongoing demand for rental units. Elevated neighborhood home values further reinforce renter reliance on multifamily housing, supporting leasing depth and potential pricing power where affordability is managed thoughtfully at the asset level.
- Newer 2007 vintage versus older neighborhood stock, with scope for selective modernization to stay competitive.
- High neighborhood renter-occupied share supports a deep tenant base and steadier leasing.
- Amenity-rich Urban Core location enhances livability and retention potential.
- Elevated home values locally can sustain rental demand and pricing power when paired with disciplined lease management.
- Risks: neighborhood safety ranks weaker than many metro areas and school ratings trend below national averages; underwriting should reflect security measures and tenant profile.