| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 58th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 180 Scholes St, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2009 |
| Units | 34 |
| Transaction Date | 2013-09-30 |
| Transaction Price | $18,500,000 |
| Buyer | 180 SCHOLES STREET LLC |
| Seller | JR 180 SCHOLES LLC |
180 Scholes St Brooklyn Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data. These indicators reflect the surrounding neighborhood rather than the property itself, underscoring location-driven stability for a 2009-vintage, 34-unit asset.
The immediate area carries an A rating and is top quartile among 889 metro neighborhoods in the New York–Jersey City–White Plains region, based on WDSuite’s CRE market data. Neighborhood occupancy trends are strong versus national norms, and a very high share of housing units are renter-occupied, signaling depth in the tenant base and supporting leasing stability (neighborhood metrics, not property-specific).
Livability is reinforced by exceptional amenity density: restaurants and grocery access are among the highest nationally, with abundant cafes, pharmacies, and parks. Transit-rich, urban-core locations like this tend to sustain renter interest and retention, which can translate into steadier renewals and fewer prolonged vacancies.
Home values are elevated relative to much of the country, which often reinforces reliance on multifamily rentals and can support pricing power for well-positioned communities. Rent-to-income levels are comparatively manageable for an urban core, suggesting lower affordability pressure and aiding lease management. School ratings trend below national averages, which may temper appeal for some family renters but is less likely to deter young professional cohorts.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with forecasts indicating further renter pool expansion through 2028. This growth backdrop, combined with a high neighborhood renter-occupied share, underpins demand resilience and supports occupancy stability over the medium term.
At the property level, the 2009 construction year is newer than the neighborhood’s older housing stock, offering competitive positioning versus pre-1970 buildings. Investors should still budget for mid-life system upgrades and selective repositioning to meet current renter expectations, but the vintage provides a relative edge against much of the local inventory.
Safety indicators for the surrounding neighborhood track below national medians, with WDSuite’s data placing the area in a lower national safety percentile than many U.S. neighborhoods. Recent year-over-year declines in both violent and property offense rates point to improving momentum, but investors should underwrite conservatively and prioritize on-site measures such as controlled access, lighting, and professional management.
Relative to the broader New York–Jersey City–White Plains region, the neighborhood performs below average on safety; however, the downward trendlines over the last year are constructive. Operator-level practices and building design often mitigate risk and can support tenant retention and overall asset performance.
Nearby employers in airlines, utilities, media/tech, and insurance anchor the employment base and support renter demand through commute convenience. The following nodes within roughly three miles are relevant to leasing stability and renewal prospects.
- Jetblue Airways — airline (2.9 miles) — HQ
- Con Edison Distribution Engineering — utilities engineering (3.0 miles)
- Consolidated Edison — utilities (3.0 miles) — HQ
- Yahoo — media/tech offices (3.0 miles)
- New York Life Insurance Company — insurance (3.1 miles)
This 2009-vintage, 34‑unit property benefits from strong neighborhood drivers: high occupancy levels, a deep renter-occupied housing base, and exceptional amenity access that helps sustain demand and renewals. Elevated ownership costs in the area typically reinforce reliance on rentals, while demographics within a 3‑mile radius indicate continued population and household growth that can expand the renter pool and support leasing stability. According to CRE market data from WDSuite, the surrounding neighborhood’s performance sits well above national norms on occupancy, providing a favorable backdrop for income durability.
The vintage is newer than much of the local housing stock, offering competitive positioning versus older assets while still warranting planning for mid‑life system updates and targeted modernization. Safety indicators trail broader benchmarks, so conservative underwriting and active property management remain prudent to sustain tenant retention and overall performance.
- Strong neighborhood occupancy and deep renter base support income stability (neighborhood metrics, not property-specific).
- Elevated ownership costs bolster reliance on rental housing, aiding pricing power for well-positioned assets.
- 2009 construction offers a competitive edge versus older stock, with scope for selective value-add.
- 3-mile demographics point to renter pool expansion through 2028, supporting lease-up and renewals.
- Risk: safety metrics trail regional and national benchmarks—underwrite conservatively and emphasize on-site controls.