| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 55th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 959 Saint Marks Ave, Brooklyn, NY, 11213, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1973 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
959 Saint Marks Ave Brooklyn Multifamily Investment
Renter demand is reinforced by a high-cost ownership market and dense amenities, according to WDSuite’s CRE market data, supporting stable leasing for this 52-unit asset in Brooklyn’s urban core.
The property sits in an Urban Core neighborhood that ranks in the top quartile among 889 metro neighborhoods, with dense retail, parks, and daily needs. Amenity access is a clear strength: cafes, groceries, restaurants, parks, and pharmacies all place near the top of national comparisons, which tends to support resident retention and sustained leasing interest.
Neighborhood occupancy is near the national midpoint, while the share of renter-occupied housing is high (top national percentiles). For investors, that renter concentration indicates a deep tenant base and resilient demand for multifamily units. Median contract rents in the area trend above many U.S. neighborhoods, yet rent-to-income ratios sit on the lower end nationally, a combination that can aid renewal rates and pricing discipline.
The asset’s 1973 vintage is newer than much of the surrounding housing stock, where the average construction year skews early 1900s. That positioning reduces immediate age-related obsolescence versus older walk-up inventory, though investors should still underwrite typical mid-1970s systems and potential value-add through common-area, mechanical, and unit-level upgrades.
Within a 3-mile radius, population and households have grown in recent years and are projected to expand further, with household sizes trending smaller. This points to a larger tenant base and more renters entering the market over time, which supports occupancy stability and absorption for well-located apartments.
Home values in the neighborhood are elevated relative to national norms, placing the area among the most expensive ownership markets. For multifamily owners, high ownership costs tend to reinforce reliance on rental housing, supporting depth of demand and lease retention across cycles.
Safety indicators sit roughly around the metro midpoint compared with 889 neighborhoods, and crime levels are higher than many U.S. neighborhoods on a national basis. Recent neighborhood data also shows year-over-year improvement in violent incident rates, suggesting some directional easing. Investors typically address safety through property-level measures and leasing practices while monitoring broader neighborhood trends over time.
Proximity to major Manhattan employers supports a strong commuter tenant base and leasing durability. Nearby finance and corporate offices anchor daily employment flows that sustain multifamily demand.
- AIG — insurance (4.1 miles) — HQ
- Dr Pepper Snapple Group — consumer beverages (4.1 miles)
- S&P Global — financial information & ratings (4.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (4.2 miles) — HQ
- AmTrust Financial Services — insurance (4.3 miles) — HQ
This 52-unit, 1973-vintage property benefits from a deep renter pool, exceptional neighborhood amenity density, and a high-cost ownership landscape that supports sustained multifamily demand. Neighborhood occupancy sits near national norms while renter-occupied share is high, indicating durable depth of tenants and potential for steady renewals. Based on commercial real estate analysis using WDSuite’s CRE market data, operating fundamentals in this area compare favorably, with strong revenue profiles and dense employment access via short commutes.
Relative to older local stock, the asset’s vintage positions it competitively while still offering value-add potential through modernization of interiors and building systems. Demographic trends within a 3-mile radius point to continued population and household growth with smaller household sizes, expanding the renter base and supporting long-term occupancy stability.
- Deep renter-occupied concentration supports tenant base depth and leasing stability
- High-cost ownership market reinforces reliance on rentals and renewal potential
- 1973 vintage newer than much of local stock; value-add via targeted upgrades
- Dense amenities and access to major employers underpin demand and retention
- Consider neighborhood safety monitoring and mid-1970s systems in capital planning