| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 89th | Best |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20 Terrace Pl, Brooklyn, NY, 11218, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2000 |
| Units | 21 |
| Transaction Date | 1998-08-27 |
| Transaction Price | $550,000 |
| Buyer | 20 TERRACE PARTNERS LLC |
| Seller | TERRACE PLACE REALTY LLC |
20 Terrace Pl, Brooklyn NY — 21-Unit Multifamily Investment
Neighborhood occupancy remains high and stable, supporting leasing durability for smaller units, according to WDSuite’s CRE market data; note that occupancy reflects the surrounding neighborhood rather than this property specifically.
Located in Brooklyn’s Urban Core, the area around 20 Terrace Pl ranks 11th out of 889 metro neighborhoods (A+ rating), indicating competitive fundamentals within New York–Jersey City–White Plains. Neighborhood occupancy is about 96.9% and has edged up in recent years, pointing to steady renter demand at the neighborhood level rather than the property itself.
Daily-life amenities are a clear strength: parks, groceries, restaurants, pharmacies, and cafes all score in the upper national percentiles, with parks and childcare density among the strongest nationwide. This concentration of services supports convenience-driven leasing and helps widen the prospective tenant base for workforce and professional renters.
Schools in the neighborhood test at the top of local and national benchmarks (ranked 1st of 889 metro neighborhoods and top percentile nationwide), a factor that can aid retention for family renters and bolster long-term neighborhood stability.
Ownership costs in the area are elevated relative to income levels, while neighborhood rents have trended upward over the past five years. This high-cost ownership market tends to reinforce reliance on multifamily housing and supports pricing power and lease retention when managed carefully. At the same time, the neighborhood’s renter-occupied share is roughly 48%, indicating a meaningful renter concentration and a deep tenant pool for multifamily operators.
Within a 3-mile radius, demographics point to a large, diverse population with household counts increasing over the last five years and average household size trending smaller. Looking ahead, local forecasts indicate population and household growth, which would expand the renter pool and support occupancy stability if realized, based on CRE market data from WDSuite.
Safety indicators for the surrounding neighborhood track below national medians (around the 40th percentile nationwide), so underwriting should incorporate prudent security and insurance assumptions. That said, estimated property offenses have declined year over year, indicating an improving trend to monitor rather than a resolved condition.
Compared with other neighborhoods nationally, current levels suggest investors should emphasize active property management, lighting, and access control to support tenant retention. Always assess block-level conditions during diligence, as safety can vary within short distances in dense urban areas.
The address sits within commuting reach of major finance and corporate services employers, supporting a stable professional renter base and minimizing commute frictions. Nearby anchors include Dr Pepper Snapple Group, S&P Global, Guardian Life, Robert Half, and AIG.
- Dr Pepper Snapple Group — corporate offices (2.7 miles)
- S&P Global — financial information services (3.7 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (3.8 miles) — HQ
- Robert Half International — staffing & consulting (3.8 miles)
- Aig — insurance (3.9 miles) — HQ
Built in 2000, this 21-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older buildings while leaving room for targeted modernization of common areas and systems as part of a value-add plan. The neighborhood ranks near the top of the metro (11th of 889), with high amenity access, strong schools, and a renter base supported by a high-cost ownership market—factors that can underpin occupancy stability and pricing discipline.
Neighborhood occupancy is high and rising modestly, and within a 3-mile radius households have grown while average household size has trended smaller—supportive of demand for efficient floorplans like the property’s smaller units. According to commercial real estate analysis from WDSuite, these dynamics, combined with proximity to large corporate employers, indicate durable renter demand, though investors should underwrite security and expense controls given safety metrics that trail national medians.
- 2000 vintage offers a newer competitive set versus older neighborhood stock, with potential value-add through selective upgrades.
- High neighborhood occupancy and strong amenities support leasing velocity and retention.
- Elevated home values reinforce multifamily reliance, aiding pricing power when paired with thoughtful lease management.
- Large employer base within a short commute underpins a professional renter pool.
- Risk: Safety indicators are below national medians; plan for active management and appropriate reserves.