| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 95th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 109 Gold St, Brooklyn, NY, 11201, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 33 |
| Transaction Date | 2012-03-26 |
| Transaction Price | $14,458,000 |
| Buyer | 109 Gold Associates, LLC |
| Seller | Gold & York Development, LLC |
109 Gold St, Brooklyn Multifamily Investment
Newer 2011 construction in an Urban Core pocket where elevated home values and strong incomes sustain deep renter demand, according to WDSuite’s CRE market data. Relative to older neighborhood stock, the asset should compete well for quality tenants while benefiting from proximity to major job centers.
109 Gold St is situated in a high-performing Urban Core neighborhood of Brooklyn (A+ rating), ranked 29 out of 889 metro neighborhoods — a top-tier position within New York-Jersey City-White Plains. Amenity density is exceptional, with cafes, restaurants, groceries, parks, and pharmacies all tracking in the top national percentiles, supporting daily convenience and leasing appeal.
Schools in the area are among the strongest in the metro, with the neighborhood’s average school rating at the top of local rankings (1 out of 889) and in the highest national percentile. For investors, strong schools support retention for family households and broaden the prospective renter base.
The property’s 2011 vintage is materially newer than the neighborhood’s average construction year of 1957. That relative youth can translate into competitive positioning versus older buildings, with potential for lighter near-term capital needs; periodic modernizations may still be prudent to keep finishes and systems market-relevant.
Neighborhood rents sit at the high end nationally while the local rent-to-income ratio trends below many coastal peers, indicating capacity for quality tenancy and managed affordability pressure. Within a 3-mile radius, a high renter-occupied share (three-quarters of units) and continued population and household growth point to a sizable and expanding tenant base that supports occupancy stability over time.
Safety indicators are mixed. The neighborhood’s crime rank sits around the middle of the pack (371 out of 889 metro neighborhoods), and national comparisons place the area below the national safety average. However, recent trends show momentum: estimated property offenses declined year over year, suggesting improvement. Investors should underwrite appropriate security measures and operating practices while recognizing that Urban Core locations can show continued gains as local initiatives and community investment progress.
Nearby corporate headquarters and financial services offices underpin a robust white-collar employment base that supports renter demand and lease retention. Key employers include AIG, S&P Global, Amtrust Financial Services, Guardian Life, and Assurant.
- AIG — insurance (1.23 miles) — HQ
- S&P Global — financial analytics (1.40 miles) — HQ
- Amtrust Financial Services — insurance (1.42 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (1.44 miles) — HQ
- Assurant — insurance (1.48 miles) — HQ
This 33-unit asset combines a 2011 vintage with best-in-class neighborhood fundamentals. Elevated household incomes, strong schools, and a deep renter pool within 3 miles support demand durability, while very high local home values reinforce reliance on multifamily housing. Based on commercial real estate analysis from WDSuite, the neighborhood’s amenity density and access to major employers position the property to compete for quality tenants relative to older local stock.
While neighborhood occupancy levels have been softer than top-tier coastal benchmarks, the combination of white-collar employment nearby, top-ranked schools, and ongoing household growth should help sustain leasing velocity. Operators should plan standard capital programs to keep finishes current and continue differentiating against older alternatives.
- 2011 construction provides competitive positioning versus predominantly mid-century inventory
- Deep renter base within 3 miles and high-income demographics support demand and retention
- Exceptional amenities and top-ranked schools enhance leasing appeal and pricing power
- Proximity to multiple corporate headquarters strengthens weekday occupancy and renewal prospects
- Risk: neighborhood safety metrics trail national averages and occupancy trends warrant focused leasing strategy