| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 23rd | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 922 Forbell St, Brooklyn, NY, 11208, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2002 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
922 Forbell St Brooklyn Multifamily Investment
Positioned in an Urban Core pocket with a deep renter base, this asset benefits from steady neighborhood occupancy and high-cost ownership dynamics, according to WDSuite’s CRE market data. The area’s renter demand and proximity to major employment nodes support income durability for multifamily investors.
Livability signals around 922 Forbell St are mixed but serviceable for workforce renters. Grocery and dining access are strengths, with grocery density in the top quartile nationally and restaurants also competitive versus neighborhoods nationwide. Cafe availability trends similarly strong. In contrast, parks and pharmacies are limited within the immediate neighborhood, which may matter for some residents, while average school ratings sit well below national norms.
From an investment lens, the neighborhood’s renter concentration is high (renter-occupied share ranks in the top national percentiles), indicating a large tenant pool and potential leasing depth. Neighborhood occupancy is roughly in line with national norms, supporting baseline stability rather than outsized pricing power. Median home values are elevated (around the 90th percentile nationally), and the value-to-income ratio trends in the upper percentiles—an ownership landscape that typically sustains reliance on rentals and can support retention for well-managed properties.
The property’s 2003 construction is somewhat newer than the neighborhood’s average vintage (1998 across the metro’s neighborhoods), which can offer relative competitiveness versus older stock. Investors should still plan for mid-life system updates and select renovations to maintain positioning.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with projections pointing to further increases and smaller average household sizes over the next five years. This trend implies a gradually expanding renter pool and support for occupancy stability. Rent-to-income levels indicate moderate affordability pressure, suggesting balanced lease management rather than aggressive rent pushes will best preserve retention. These dynamics, based on commercial real estate analysis from WDSuite, frame a pragmatic, demand-supported setting for multifamily operations.
Safety conditions should be evaluated with care. Compared with neighborhoods nationwide, overall crime indicators place the area below the national median, and violent-offense measures fall in a lower national percentile, signaling a comparatively tougher environment. That said, recent year-over-year trends show double-digit declines in both violent and property offense estimates, indicating improvement momentum rather than deterioration.
Investors typically underwrite additional security and lighting, emphasize tenant screening, and align insurance and operating budgets accordingly. Monitoring ongoing trends alongside regional benchmarks is advisable as part of routine asset management.
Nearby employment nodes span insurance, airlines, and financial services, supporting renter demand through diverse, year-round office employment and accessible commutes.
- Prudential — insurance (0.57 miles)
- Jetblue Airways — airlines (7.38 miles) — HQ
- Aig — insurance & financial services (8.20 miles) — HQ
- S&P Global — financial information services (8.32 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (8.36 miles) — HQ
922 Forbell St is a 2003-vintage, mid-size multifamily asset positioned in a renter-heavy Urban Core location. Elevated home values and high value-to-income ratios in the neighborhood reinforce rental reliance, while grocery, dining, and cafe access compare favorably at the national level. Neighborhood occupancy trends are steady rather than outsized, suggesting dependable baseline performance if operations remain disciplined. Based on CRE market data from WDSuite, a growing 3-mile population and more households, coupled with smaller household sizes, point to gradual renter pool expansion that can support lease-up and retention.
The vintage provides a competitive edge versus older comparables, though investors should anticipate mid-life system refreshes and targeted unit upgrades to sustain positioning. Safety indicators warrant prudent operating practices, and limited nearby parks/pharmacies suggest amenities on-site or nearby retail convenience will matter for leasing.
- Renter-heavy neighborhood and high-cost ownership market support durable multifamily demand
- 2003 vintage offers competitive positioning versus older stock with value-add upgrade potential
- 3-mile population and household growth with smaller household sizes bolster the tenant base
- Strong grocery and dining access aids leasing and day-to-day livability
- Risks: below-median safety metrics and limited parks/pharmacies require prudent underwriting and operations