| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 52nd | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29 Schaefer St, Brooklyn, NY, 11207, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2001 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
29 Schaefer St, Brooklyn Multifamily Investment
Neighborhood occupancy is solid and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data, positioning this 2001-vintage asset for steady leasing in Brooklyn’s Urban Core.
Located in Brooklyn’s Urban Core, the surrounding neighborhood scores an A and ranks 97 out of 889 metro neighborhoods — competitive among New York-Jersey City-White Plains subareas. Neighborhood occupancy is in the mid-90s, indicating stable renter demand at the neighborhood level rather than the property specifically.
Daily needs are well-served: grocery, restaurants, parks, childcare, and pharmacies all sit in very high national percentiles, reducing commute friction and enhancing resident convenience. School ratings trend below national medians, which investors should consider when positioning unit mix and marketing to households with school-age children.
Vintage positioning matters here. The neighborhood’s average construction year skews older (mid-20th century), while this property was built in 2001. That newer vintage can be competitively favorable versus older stock; investors should still plan for selective system updates or amenity refreshes to maintain standing against newer deliveries.
Tenure patterns show a high share of renter-occupied housing units in the neighborhood, signaling depth in the tenant base and supporting absorption and retention. Median contract rents in the area are elevated relative to many U.S. neighborhoods, while neighborhood NOI per unit ranks in a top national tier — a backdrop that can support revenue performance when paired with disciplined expense control.
Within a 3-mile radius, demographics point to a modest rise in population and households historically, with projections indicating further population growth and a notable increase in households alongside smaller average household sizes. For investors, that combination typically expands the renter pool and supports occupancy stability over time.
Home values in the neighborhood are high by national standards, and value-to-income ratios sit in top national brackets. This high-cost ownership context tends to reinforce reliance on multifamily rentals, which can aid lease retention and pricing power, though elevated rent-to-income levels warrant close lease management to mitigate affordability pressure.
Safety indicators for the neighborhood are mixed. Within the New York-Jersey City-White Plains metro, the neighborhood’s crime rank (265 out of 889) places it competitive among metro neighborhoods, yet nationally it sits below the median safety percentile. Investors should underwrite with realistic expectations, using security, lighting, and property management presence to support resident confidence.
Recent trend data shows improvement: estimated violent offense rates declined year over year and property offenses also moved lower. While one-year declines are encouraging, they should be contextualized as part of broader neighborhood trends rather than property-specific conditions.
The area draws from a deep, multi-industry employment base within a short commute, supporting workforce housing demand and resident retention. Key nearby employers include Prudential, JetBlue Airways, AIG, Yahoo, and Con Edison Distribution Engineering.
- Prudential — corporate offices (3.4 miles)
- Jetblue Airways — corporate offices (4.7 miles) — HQ
- Aig — corporate offices (5.1 miles) — HQ
- Yahoo — corporate offices (5.2 miles)
- Con Edison Distribution Engineering — corporate offices (5.2 miles)
29 Schaefer St offers a 2001 construction profile in a largely older-housing neighborhood, positioning it competitively against prewar and mid-century stock. Neighborhood-level occupancy sits in a healthy range and renter concentration is high, indicating a deeper tenant base and support for leasing continuity. Elevated home values relative to incomes characterize a high-cost ownership market, which typically sustains multifamily demand; however, higher rent-to-income levels call for proactive renewal strategies and careful rent setting. Based on commercial real estate analysis from WDSuite, the neighborhood’s amenity access and top-tier NOI-per-unit context further reinforce long-run income potential.
Within a 3-mile radius, recent population and household growth — with forecasts pointing to further household gains and smaller household sizes — suggest ongoing renter pool expansion. Investors should balance this demand outlook with prudent assumptions around safety variability and school quality, which are below national medians but have shown improving crime trends year over year.
- 2001 vintage offers competitive positioning versus older neighborhood stock, with selective modernization potential.
- High renter-occupied share and solid neighborhood occupancy support leasing stability and retention.
- Amenity-rich Urban Core location and strong neighborhood NOI context underpin revenue durability, per WDSuite’s CRE market data.
- 3-mile demographic outlook points to renter pool expansion with rising households and smaller household sizes.
- Risks: affordability pressure (elevated rent-to-income), below-median school ratings, and safety considerations that vary by micro-location.