| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 61st | Fair |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 97 Crooke Ave, Brooklyn, NY, 11226, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2010 |
| Units | 53 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
97 Crooke Ave Brooklyn Multifamily in High-Renter Core
Newer 2010 construction in a neighborhood with stable occupancy and deep renter demand, according to WDSuite's CRE market data. The asset's vintage stands out versus older local stock, supporting competitive leasing and retention.
This Urban Core neighborhood carries an A- rating and ranks in the top quartile among 889 metro neighborhoods, signaling solid fundamentals for multifamily investors. Amenity density is a clear strength—cafes, restaurants, groceries, and pharmacies score at or near the top nationally—which helps drive daily convenience and supports resident retention.
Neighborhood occupancy is 93.7% with a modest upward trend over five years, placing it above the national median; this underpins a stable leasing backdrop. Renter-occupied housing comprises a high share of units in the neighborhood (renter concentration is elevated), indicating a deep tenant base that can support ongoing multifamily demand and absorption.
Within a 3-mile radius, households have grown while average household size has edged lower, and projections show further increases in households over the next five years—a dynamic that typically expands the renter pool and supports occupancy stability. Median incomes in the 3-mile area have risen meaningfully, reinforcing the capacity to sustain rent levels as part of a balanced commercial real estate analysis based on WDSuite's data.
Ownership remains a high-cost proposition locally: neighborhood home values are elevated and rank near the top nationally. This context generally sustains reliance on rental housing, aiding lease retention and pricing power for well-located multifamily assets. One consideration: average school ratings in the neighborhood are on the lower end, which may be less of a draw for school-focused households but is typical for dense urban submarkets.
Vintage mix also matters: with an average neighborhood construction year in the 1950s, a 2010 asset can compete effectively versus older stock while still warranting normal capital planning for building systems as it matures.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area sits below the national average on several measures, particularly violent incident rates. However, within the New York–Jersey City–White Plains metro, the neighborhood's crime rank is competitive among 889 neighborhoods, and property-related offenses have trended lower year over year—a constructive directional signal for resident experience.
Investors should underwrite with submarket-level comparables and consider on-the-ground diligence for block-by-block variation. Trend improvements in property offenses suggest some near-term stability, but the nationally relative positioning warrants prudent operating assumptions.
A broad employment base across beverages and financial services within a roughly 3–5 mile radius supports commuter convenience and renter demand. Notable nearby employers include Dr Pepper Snapple Group, S&P Global, Guardian Life, AIG, and Robert Half.
- Dr Pepper Snapple Group — beverages (3.45 miles)
- S&P Global — financial data (4.24 miles) — HQ
- Guardian Life Ins. Co. of America — life insurance (4.30 miles) — HQ
- Aig — insurance (4.31 miles) — HQ
- Robert Half International — staffing & recruiting (4.36 miles)
97 Crooke Ave offers a 2010-vintage, 53-unit multifamily position in Brooklyn's Urban Core where neighborhood occupancy is above the national median and renter concentration is high. The asset's newer construction relative to the area's predominantly mid-century stock provides competitive positioning for leasing and tenant retention, while the surrounding 3-mile radius shows growth in households and projections for additional household gains—supporting a larger tenant base over time. Elevated neighborhood home values indicate a high-cost ownership market, which typically sustains rental demand and reinforces lease stability.
Amenity richness (cafes, restaurants, groceries, pharmacies) strengthens livability and day-to-day convenience. According to CRE market data from WDSuite, neighborhood rents and incomes have trended upward, which supports ongoing rent performance management when combined with prudent affordability monitoring. Investors should account for mixed safety metrics and lower school ratings typical of dense urban neighborhoods when setting assumptions for marketing, tenant mix, and operating costs.
- 2010 vintage competes well versus older neighborhood stock; plan for normal system updates as the asset matures
- High renter concentration and above-median neighborhood occupancy support leasing stability
- 3-mile household growth and projected increases expand the renter pool and underpin absorption
- Amenity density (food, grocery, pharmacy) supports retention and pricing power potential
- Risks: safety metrics below national averages and lower school ratings warrant conservative underwriting