| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 90th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Smith St, Brooklyn, NY, 11231, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 50 |
| Transaction Date | 2009-08-14 |
| Transaction Price | $3,800,000 |
| Buyer | 360 BOOM LLC |
| Seller | OLIVER HOUSE LLC |
360 Smith St Brooklyn Multifamily in Amenity-Rich Core
Built in 2011, the property competes well against older neighborhood stock, with renter demand supported by high-cost ownership dynamics and dense amenities, according to WDSuite’s CRE market data.
The immediate area around 360 Smith St sits within one of the metro’s highest-rated urban cores (A+ neighborhood rating and among the most competitive in the New York–Jersey City–White Plains metro at 8 of 889), offering a mix of lifestyle conveniences and strong incomes that underpin multifamily leasing. Amenity access is exceptional by national standards, with dense coverage of parks, groceries, cafes, restaurants, and pharmacies placing the neighborhood among the highest percentiles nationwide.
Renter demand is reinforced by a high-cost ownership market and elevated household incomes. Neighborhood home values rank among the top nationally, while household incomes also sit in upper percentiles; together, these dynamics tend to sustain reliance on rental housing and support pricing power for well-positioned assets. Within a 3-mile radius, roughly seven in ten housing units are renter-occupied, indicating a deep tenant base for multifamily product.
Occupancy for the neighborhood tracks near the national middle, suggesting generally stable leasing conditions rather than a tight market. Median contract rents are high relative to national benchmarks and have posted solid multi-year gains, consistent with the area’s amenity concentration and income profile. The property’s 2011 vintage is notably newer than the neighborhood’s older housing stock (average vintage 1943), which can provide a competitive edge versus legacy buildings; investors should still account for long-term system updates or modernization to maintain that positioning.
Demographic trends aggregated within a 3-mile radius point to a growing, high-income renter pool: household counts and population have increased, with forecasts calling for further gains and smaller average household sizes. For investors, that implies a larger tenant base and continued depth of demand for professionally managed apartments, supporting occupancy stability and retention over the hold period.
Safety metrics for the neighborhood compare weaker than many areas nationally (national percentiles indicate lower relative safety), but recent year-over-year trends show improvement with declines in both property and violent offense rates. In practical terms, investors should underwrite with conservative assumptions, monitor submarket trends over time, and weigh the area’s amenity density and renter demand against these considerations.
Nearby corporate offices across finance, insurance, and business services provide a broad employment base that supports renter demand and commuter convenience for residents. The list below highlights prominent employers within a short radius that can underpin leasing stability.
- Dr Pepper Snapple Group — corporate offices (1.2 miles)
- S&P Global — financial services (1.8 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (1.9 miles) — HQ
- Robert Half International — staffing & consulting (1.9 miles)
- AIG — insurance (1.9 miles) — HQ
- Assurant — insurance (2.1 miles) — HQ
- AmTrust Financial Services — insurance (2.1 miles) — HQ
- Avon Products — consumer goods (2.3 miles) — HQ
- Bank of New York Mellon Corp. — financial services (2.5 miles) — HQ
- American Express — financial services (2.6 miles) — HQ
360 Smith St offers a newer-vintage, 50-unit asset in a top-tier Brooklyn neighborhood where amenity density and high-income households support sustained multifamily demand. The property’s 2011 construction stands out versus much of the surrounding housing stock, positioning it competitively for renter preferences while leaving room for targeted modernization to protect long-term performance. Based on CRE market data from WDSuite, neighborhood occupancy sits near national mid-range levels, with elevated rents and a deep renter pool helping support leasing stability.
Investor context is favorable: nationally high home values in the neighborhood reinforce reliance on rental housing, while 3-mile radius trends indicate growth in households and a sizeable renter-occupied share — all supportive of tenant retention and pricing power. Key risks include comparatively weaker national safety positioning and the need to manage affordability and renewal strategies in a high-rent environment.
- 2011 vintage competes well against older local stock, with potential for selective upgrades to sustain positioning
- Amenity-rich, A+ neighborhood with high-income households supports steady multifamily demand and retention
- Occupancy near national mid-range with elevated rents indicates stable leasing dynamics and pricing power potential
- Deep renter base within a 3-mile radius expands the tenant pool and underpins absorption
- Risks: comparatively weaker national safety standing and affordability management in a high-rent market