| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 78th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 267 Pacific St, Brooklyn, NY, 11201, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 61 |
| Transaction Date | 2011-07-27 |
| Transaction Price | $950,000 |
| Buyer | 257-267 PACIFIC STREET LLC |
| Seller | BOERUM ATLANTIC SPE LLC |
267 Pacific St, Brooklyn — 2013 Core Multifamily in High-Renter Corridor
Positioned in Brooklyn’s urban core with strong renter demand and steady neighborhood occupancy, this 61-unit asset benefits from deep amenities and high-cost ownership dynamics, according to WDSuite’s CRE market data.
Located in Brooklyn’s Urban Core, the property sits in a neighborhood rated A+ (ranked 32 among 889 metro neighborhoods), indicating top-tier fundamentals relative to the region. Amenity access is a clear strength: cafes, groceries, parks, pharmacies, and restaurants all benchmark in the top quartile nationally, supporting daily convenience and sustained leasing interest.
Renter concentration is high at the neighborhood level and within a 3-mile radius, signaling a deep tenant base and durable demand for multifamily product. Elevated home values in the immediate area reflect a high-cost ownership market, which tends to reinforce reliance on rentals and can support pricing power when managed alongside retention strategies.
Within a 3-mile radius, demographics show population growth and an increase in households, with smaller average household sizes over time—factors that generally expand the renter pool and support occupancy stability. Household incomes are well above national norms, which, together with the area’s service-rich environment, underpins demand for professionally managed apartments. School ratings track near the national midpoint, which is adequate for most multifamily tenant profiles but not a specific demand driver.
Vintage is a differentiator: built in 2013, the asset is materially newer than the neighborhood’s average construction year of 1962. Newer construction can offer competitive positioning against older stock on unit finishes and building systems, while investors should still plan for periodic modernization and mid-life system updates to sustain performance.
Safety indicators benchmark below national medians for similar urban neighborhoods, so investors should incorporate prudent operating practices and insurance assumptions. That said, recent trend data shows year-over-year declines in both property and violent offenses, suggesting improving momentum rather than deterioration. Within the New York-Jersey City-White Plains metro (889 neighborhoods), this area is competitive among urban core locations, though not a leading safety outlier.
Proximity to Lower Manhattan and Downtown Brooklyn anchors a diverse white-collar employment base, supporting commuter convenience and weekday leasing stability. Nearby employers include financial services, ratings, consumer brands, and professional services that align with typical renter profiles for this submarket.
- S&P Global — financial information & ratings (1.4 miles) — HQ
- Aig — insurance (1.5 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (1.5 miles) — HQ
- Dr Pepper Snapple Group — consumer beverages (1.6 miles)
- Robert Half International — professional staffing (1.6 miles)
This 2013, 61-unit multifamily property benefits from a high-renter neighborhood, top-tier amenity access, and proximity to major employers across finance, insurance, and professional services. Elevated home values in the immediate area point to a high-cost ownership market that tends to sustain rental demand and support lease retention when paired with disciplined management. Based on commercial real estate analysis from WDSuite, neighborhood occupancy has held in a stable range, and household growth within a 3-mile radius indicates a larger tenant base over the next several years.
The asset’s newer vintage versus local housing stock can translate into competitive positioning and fewer near-term structural needs relative to older properties. Investors should still plan for typical mid-life system updates and prudent underwriting around safety and operating costs, but location fundamentals and renter depth provide a solid basis for long-term performance.
- High renter-occupied share supports a deep tenant base and occupancy stability.
- 2013 construction offers competitive positioning versus older neighborhood stock.
- Amenity-rich Urban Core location near major employers supports leasing velocity and retention.
- Elevated ownership costs in the area reinforce sustained demand for rentals and pricing power.
- Risks: below-national safety benchmarks and routine mid-life capital planning for systems and finishes.