| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 208 N 10th St, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 64 |
| Transaction Date | 2022-12-22 |
| Transaction Price | $51,259,184 |
| Buyer | STOCKBRIDGE 60G DRIGGS 220 OWNER LLC |
| Seller | NORTH PLAZA OWNER LLC |
208 N 10th St, Brooklyn NY Multifamily Investment Opportunity
Newer 2011 construction in an Urban Core pocket with high renter concentration and durable demand, according to WDSuite’s CRE market data. Stable neighborhood occupancy and elevated ownership costs support income resilience for a 64-unit asset.
This Urban Core neighborhood ranks 7th among 889 metro neighborhoods with an A+ rating, reflecting deep amenities and strong incomes. Amenity density is a standout with restaurants, groceries, parks, cafés, and pharmacies testing the top percentiles nationally, supporting renter retention and day-to-day convenience. Neighborhood occupancy is steady and above the national median, helping underpin predictable operations for multifamily investors.
Construction year average in the area skews older (1970s), while the property’s 2011 vintage is newer than much of the local stock. That positioning can enhance competitive leasing versus older comparables, while investors should still plan for mid-life system updates and selective modernization to sustain pricing power.
Tenure patterns indicate a high share of renter-occupied housing units (about four in five), signaling a large, established tenant base and consistent leasing depth. Median contract rents in the neighborhood sit in a high national percentile, and the rent-to-income ratio remains manageable, which supports lease retention and measured rent growth management rather than aggressive push strategies.
Within a 3-mile radius, demographics show population and households have grown in recent years and are projected to expand further through the current forecast period, with average household size drifting lower. This points to a larger tenant base and more one- to two-person households entering the market, which aligns with efficient unit mixes. Elevated home values in the neighborhood, relative to incomes, characterize a high-cost ownership market and tend to sustain reliance on rental options—an important backdrop for occupancy stability, based on CRE market data from WDSuite.
School ratings track close to national midrange, which fits an urban renter profile where proximity to employment and amenities often outweighs top-tier school considerations. Overall, the combination of amenity access, income strength, and entrenched renter demand makes this location competitive among New York–Jersey City–White Plains neighborhoods.
Safety outcomes are mixed relative to broader benchmarks. At the metro level, the neighborhood’s crime rank sits near the middle of 889 neighborhoods, while national comparisons indicate below-average safety. Recent trend data is directionally constructive with year-over-year declines in both violent and property offense rates, suggesting incremental improvement. Investors should underwrite standard urban risk management measures and consider security enhancements in common areas as part of operating plans.
Nearby corporate offices provide strong employment access that supports renter demand and lease retention, particularly for professional services and tech-adjacent roles. Key employers within a short commute include Con Edison, Yahoo, New York Life, and Verizon.
- Con Edison Distribution Engineering — utilities engineering (2.1 miles)
- Consolidated Edison — utilities (2.1 miles) — HQ
- Yahoo — technology/media offices (2.1 miles)
- New York Life Insurance Company — insurance (2.2 miles)
- Verizon Communications — telecommunications (2.3 miles)
208 N 10th St offers a 2011-vintage, 64-unit multifamily asset in an A+ Urban Core neighborhood where renter-occupied housing is the norm and amenity density is among the strongest nationally. Neighborhood occupancy sits above the national median, and elevated ownership costs help sustain reliance on rentals—both supportive of steady absorption and pricing discipline. According to CRE market data from WDSuite, incomes in this area are strong by national standards while rent-to-income levels remain manageable, reinforcing a balanced setup for retention.
Relative to the metro, the newer vintage should compete well against older stock, with mid-life CapEx planning focused on building systems and light-unit upgrades to preserve yield. Investor attention should include standard urban operating considerations, including safety, while leveraging the proximity to major employers and extensive amenities to support leasing velocity.
- A+ Urban Core location with top-tier amenity access supporting renter demand and retention
- 2011 vintage competes well against older neighborhood stock; plan for mid-life systems and targeted renovations
- Above-national-median neighborhood occupancy and high renter concentration point to stable lease-up and renewals
- High-cost ownership market reinforces reliance on rentals, supporting pricing power when managed thoughtfully
- Risks: safety metrics trail national averages; underwrite security measures and prudent loss assumptions