| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 205 N 9th St, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 116 |
| Transaction Date | 2022-12-22 |
| Transaction Price | $71,500,000 |
| Buyer | STOCKBRIDGE 60G DRIGGS 205 OWNER LLC |
| Seller | NORTH-DRIGGS HOLDINGS LLC |
205 N 9th St, Brooklyn Multifamily Investment
Modern 2011 construction in an A+ urban core enclave with strong renter demand and steady neighborhood occupancy, according to WDSuite’s CRE market data.
Located in Williamsburg’s urban core, the property sits within one of the highest-rated neighborhoods in the New York-Jersey City-White Plains metro (ranked 7 of 889, A+). Amenities are exceptionally dense — restaurants, cafes, parks, groceries, and pharmacies all track near the top of national comparisons — supporting daily convenience and underpinning renter appeal.
The neighborhood’s housing stock skews older on average (1970s), while this asset’s 2011 vintage offers a more contemporary baseline that can compete well versus legacy product; investors should still plan for targeted mid-life system updates over the hold. Neighborhood occupancy is healthy and has trended stable, supporting leasing continuity and reducing downtime risk.
Renter-occupied housing accounts for a high share of neighborhood units, indicating a deep tenant base and durable demand for multifamily. Elevated home values relative to incomes characterize a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power, though lease management should balance rent growth with retention.
Within a 3-mile radius, demographics point to population and household growth alongside slightly smaller household sizes. This combination enlarges the renter pool and supports underwriting assumptions around absorption and occupancy stability. Median school ratings are mixed, which may matter less for smaller-unit product but is worth monitoring for long-term positioning.
Safety indicators are mixed when benchmarked nationally. Neighborhood crime metrics sit below the national median (national percentiles indicate weaker safety performance), though recent year-over-year trends show improvement with declines reported in both violent and property offense estimates. Compared with the New York-Jersey City-White Plains metro, the neighborhood ranks 423 out of 889, signaling room for continued improvement while remaining typical of dense urban submarkets.
Proximity to major corporate offices supports a large commuter tenant base and can aid retention through short, transit-friendly commutes. Nearby anchors include Con Edison, Consolidated Edison, Yahoo, New York Life, and Netflix.
- Con Edison Distribution Engineering — utilities engineering offices (2.08 miles)
- Consolidated Edison — utilities (2.09 miles) — HQ
- Yahoo — technology/media offices (2.12 miles)
- New York Life Insurance Company — insurance (2.16 miles)
- Netflix — media/entertainment offices (2.30 miles)
Built in 2011 with 116 units, the asset offers a competitive vintage relative to the neighborhood’s older housing stock, reducing near-term functional obsolescence while leaving room for targeted modernization as systems age. Neighborhood occupancy is solid, renter concentration is high, and amenity density is exceptional — dynamics that collectively support leasing velocity and retention in a high-cost ownership market.
Within a 3-mile radius, recent population and household growth, alongside smaller average household sizes, points to a larger tenant base and steady demand for professionally managed apartments. According to CRE market data from WDSuite, the surrounding neighborhood performs in the top tier on income and amenity access, while rent-to-income levels imply manageable affordability pressure that should be monitored in pricing strategy.
- 2011 construction offers competitive positioning versus older local stock with clear, targeted value-add paths
- Healthy neighborhood occupancy and deep renter base support leasing stability
- Dense amenity fabric and proximity to major employers bolster demand and retention
- High-cost ownership market supports renter reliance, with pricing power balanced by affordability management
- Risks: urban safety metrics below national median and ongoing capex needs typical of assets entering mid-life