| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 239 N 9th St, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
239 N 9th St, Brooklyn — Multifamily Investment in Prime Williamsburg
Positioned in an Urban Core neighborhood with deep renter demand and abundant amenities, this asset benefits from steady neighborhood occupancy and a high renter-occupied share, according to WDSuite’s CRE market data.
Located in Williamsburg, the property sits within a top quartile neighborhood among 889 metro neighborhoods, supported by dense retail, dining, and everyday conveniences. Amenity access is a clear strength: neighborhood measures for restaurants, cafes, parks, groceries, and pharmacies rank near the top of national comparisons, reinforcing walkability and day-to-day convenience that support leasing and retention for multifamily assets.
Neighborhood occupancy is stable and competitive versus many U.S. submarkets, and the share of housing units that are renter-occupied is high, indicating a deep tenant base and demand resilience for apartments rather than for-sale housing. Median school ratings are around the national middle, which neither adds nor detracts meaningfully from fundamentals at this price point and renter profile.
Within a 3-mile radius, demographics show population and household growth over recent years, with projections indicating further increases in households alongside smaller average household sizes. For investors, that points to a larger renter pool and sustained demand for smaller-format units over time. Income measures in the 3-mile area are elevated and rising, which, paired with rising contract rents, suggests pricing power potential balanced by affordability management considerations.
Ownership is a high-cost proposition in this neighborhood relative to incomes, and that context typically sustains reliance on multifamily rentals. In turn, rent-to-income levels sit at manageable ranges locally, supporting lease retention while leaving room for disciplined rent growth management. Overall, the combination of amenity density, renter concentration, and steady neighborhood occupancy provides solid fundamentals for multifamily investors, based on CRE market data from WDSuite.
Safety indicators for the neighborhood track weaker than national norms, with ranks placing it around the middle of the pack among 889 metro neighborhoods but below average compared with neighborhoods nationwide. Recent trend data shows year-over-year declines in both violent and property offenses, which is a constructive direction but does not eliminate the need for prudent on-site measures.
Investors typically account for local conditions through lighting, access control, and security protocols, and they may emphasize tenant communications and property design that support perceptions of safety. As always, compare these neighborhood-level indicators with submarket and asset-level operating experience when underwriting.
Proximity to major employers in utilities, finance, telecom, and digital media supports a sizable commuter tenant base and helps leasing stability. The most relevant nearby employers include Con Edison, Consolidated Edison, Yahoo, New York Life Insurance Company, and Verizon Communications.
- Con Edison Distribution Engineering — utilities (2.2 miles)
- Consolidated Edison — utilities (2.2 miles) — HQ
- Yahoo — digital media (2.2 miles)
- New York Life Insurance Company — insurance (2.3 miles)
- Verizon Communications — telecom (2.4 miles)
Built in 2013 with 78 units averaging about 505 square feet, the asset is newer than the neighborhood’s typical vintage and should compete well against older stock while still warranting selective capital planning over the hold for systems and common-area modernization. Strong amenity access, high renter concentration, and steady neighborhood occupancy support demand and retention. Elevated home values relative to incomes in the neighborhood reinforce reliance on multifamily rentals, while rent-to-income levels suggest room for disciplined rent management, according to CRE market data from WDSuite.
Within a 3-mile radius, recent and projected increases in households point to renter pool expansion, particularly for smaller households. These dynamics, paired with proximity to major employment nodes, provide a constructive backdrop for occupancy stability and leasing velocity, balanced by the need to monitor local safety trends and affordability pressure.
- Newer 2013 vintage relative to local stock supports competitive positioning and potential value-add through targeted updates.
- Dense amenities and high renter-occupied share underpin durable demand and lease retention.
- Household growth within 3 miles indicates a larger tenant base and supports occupancy stability.
- High-cost ownership market reinforces rental reliance, supporting pricing power with prudent lease management.
- Risk: Safety indicators are weaker than national norms; underwrite for appropriate operating practices and tenant experience.