| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1024 Glenmore Ave, Brooklyn, NY, 11208, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1993 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1024 Glenmore Ave, Brooklyn NY Multifamily Investment
Renter demand is supported by a high renter-occupied share and elevated ownership costs in the neighborhood, according to WDSuite’s CRE market data. Stable occupancy and steady rent growth at the neighborhood level point to consistent leasing fundamentals.
This Urban Core pocket of Brooklyn offers daily convenience and transit access typical of the borough, with amenities that are competitive among New York-Jersey City-White Plains neighborhoods. Amenity access trends in the top quartile nationally, driven by dense grocery, park, and pharmacy availability (national percentiles near the top), while café density is comparatively thin. For investors, these patterns suggest day-to-day livability that supports retention, with limited exposure to lifestyle-driven vacancy volatility.
Multifamily fundamentals are supportive: neighborhood occupancy is solid and has improved over the past five years, and the share of housing units that are renter-occupied is high, indicating depth in the tenant base. Elevated home values within the neighborhood (high-cost ownership market) typically sustain renter reliance on apartments, which can aid pricing power and lease stability through cycles.
Within a 3-mile radius, demographics show recent population growth alongside a faster increase in households and a gradual reduction in average household size. This combination generally expands the renter pool and supports occupancy stability, especially for well-located workforce housing. Forward-looking projections in the same 3-mile area point to additional growth in households and incomes, which can underpin rent rolls and reduce downtime between turns.
Vintage matters in this submarket: the property’s 1994 construction is newer than much of the local housing stock, which trends older. That relative youth can be a competitive edge versus prewar inventory, while investors should still plan for system updates and common-area modernization to meet current renter expectations.
School ratings in the neighborhood trail national norms, which may modestly limit family-oriented appeal; however, strong park access and everyday services mitigate some of that effect for a broad renter cohort. Overall operating performance indicators for the neighborhood test above national medians, a constructive backdrop for long-term buy-and-hold strategies.
Safety indicators are mixed and should be underwritten carefully. The neighborhood’s crime rank is 340 out of 889 metro neighborhoods, indicating higher crime exposure than the metro median. Nationally, overall safety stands below average (around the 34th percentile), with violent and property offense rates positioned in lower national percentiles.
Trend-wise, recent year-over-year movement shows improvements: estimated violent offenses declined meaningfully, and property offenses also receded, suggesting directional progress even if absolute levels remain elevated versus national benchmarks. For investors, this points to a risk that requires proactive security and leasing management, but one that has been moderating.
The area draws from a broad employment base across insurance, airlines, and utilities, supporting commuter convenience and a wide renter catchment. Nearby anchors include Prudential, JetBlue Airways, New York Life, AIG, and Con Edison offices.
- Prudential — insurance (1.3 miles)
- Jetblue Airways — airline HQ and corporate (6.2 miles) — HQ
- New York Life Insurance Company — insurance (7.2 miles)
- Aig — insurance (7.3 miles) — HQ
- Con Edison Distribution Engineering — utilities (7.3 miles)
1024 Glenmore Ave sits in a renter-heavy Brooklyn neighborhood where elevated ownership costs and an improving occupancy trend support durable rental demand. The 1994 vintage is newer than much of the surrounding stock, providing a competitive advantage versus older buildings while still warranting targeted capital planning for systems and common areas. Based on CRE market data from WDSuite, neighborhood fundamentals show solid occupancy and strong day-to-day amenities that tend to reinforce retention.
Within a 3-mile radius, recent population growth, a faster rise in households, and smaller average household sizes point to a larger tenant base over time. Income growth and projected household increases further support rent rolls, while a rent-to-income ratio near 31% indicates affordability pressure to monitor through lease management and renewal strategies.
- High renter-occupied share and improved occupancy support demand depth and leasing stability.
- 1994 construction offers relative competitiveness versus older local stock, with clear value-add via modernization.
- Strong everyday amenities (grocery, parks, pharmacies) bolster retention and reduce turnover risk.
- Growing 3-mile household base and income trends underpin sustained renter pool expansion.
- Risks: below-average safety metrics and affordability pressure require prudent underwriting and active management.