| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 55th | Fair |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 431 Herkimer St, Brooklyn, NY, 11213, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 55 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
431 Herkimer St Brooklyn Multifamily — 2013 Urban Core Asset
Newer construction relative to the surrounding prewar stock positions this asset competitively while the neighborhood s high renter concentration and steady occupancy provide depth of demand, according to WDSuite s CRE market data.
Located in Brooklyn s Urban Core, the neighborhood ranks 103 out of 889 metro neighborhoods (top quartile among 889) on WDSuite s overall rating, reflecting strong fundamentals for multifamily. Amenity access is a clear strength: restaurants, groceries, pharmacies, parks, and cafes all benchmark in the 99th 100th national percentiles, supporting renter convenience and daily-needs walkability that can aid leasing and retention.
Relative to the metro and nation, this area is heavily renter-oriented: WDSuite reports a renter-occupied share of housing units near the top of the national distribution (98th percentile). For investors, that indicates a deep tenant base and durable demand for professionally managed rentals. Neighborhood occupancy is in the low 90s and has trended modestly higher over five years; this is the neighborhood s occupancy, not the property s, and it points to stable absorption and limited chronic vacancy risk in typical cycles.
Construction vintage in the surrounding area skews early-20th century on average, whereas this property s 2013 delivery is comparatively newer. That positioning can support rentability versus older inventory while still warranting mid-life capital planning over the hold (common-area refresh, building systems maintenance) rather than heavy repositioning.
Within a 3-mile radius, WDSuite s demographics indicate recent population growth with a notable increase in households and a projected expansion alongside smaller average household sizes over the next five years. That combination typically enlarges the renter pool and supports occupancy stability. Elevated home values (near the top of national percentiles) and a high value-to-income ratio suggest a high-cost ownership market that reinforces reliance on multifamily rentals, though lease management should monitor affordability pressure as rents advance.
School ratings in the broader area average on the lower side relative to national peers, which can influence unit mix strategy and marketing. Even so, strong amenity density and urban access keep the submarket competitive among New York Jersey City White Plains neighborhoods for workforce and professional renters.
Safety indicators are mixed. Neighborhood crime sits around the metro median (ranked 434 out of 889 in the region), and national percentiles place the area below average for safety compared with neighborhoods nationwide. Investors should underwrite security line items and resident-experience measures accordingly rather than assume block-level uniformity.
On trend, violent offense rates have improved year over year with declines that score in the upper third nationally, according to WDSuite. While levels remain elevated versus national norms, directional improvement can support sentiment and leasing when paired with property-level safety practices.
Proximity to major Manhattan and Brooklyn employers supports commuter convenience and leasing depth for workforce and professional tenants. Key nearby employers include AIG, S&P Global, Guardian Life, Dr Pepper Snapple Group, and AmTrust Financial Services.
- Aig corporate offices (3.9 miles) HQ
- S&P Global corporate offices (4.0 miles) HQ
- Guardian Life Ins. Co. of America corporate offices (4.1 miles) HQ
- Dr Pepper Snapple Group corporate offices (4.1 miles)
- Amtrust Financial Services corporate offices (4.1 miles) HQ
The asset s 2013 vintage stands out in a neighborhood dominated by older housing stock, offering competitive positioning on systems and finishes relative to prewar inventory. Neighborhood occupancy has edged higher and renter concentration is among the highest nationally, signaling a large, stable tenant base. Within a 3-mile radius, population and households have grown and are projected to expand further, which typically supports occupancy stability and lease-up velocity. Elevated ownership costs in the area reinforce reliance on rentals and can bolster pricing power, while prudent management should track rent-to-income and renewal trends.
Based on commercial real estate analysis validated by WDSuite s CRE market data, the surrounding submarket s amenity density and access to major employers underpin durable demand. The property s mid-cycle age suggests more of a light value-add or operational optimization play than a heavy renovation thesis, with capex focused on building systems upkeep and targeted unit refreshes to maintain competitive standing.
- Newer 2013 construction competing well against older neighborhood stock.
- High renter-occupied share and steady neighborhood occupancy support demand durability.
- Dense amenities and proximity to major employers aid retention and leasing.
- Elevated home values reinforce rental reliance, with careful attention to rent-to-income and renewal management.
- Risks: below-average national safety metrics and modest school ratings warrant underwriting for security and tenant-experience investments.