| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 37th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 440 Berry St, Brooklyn, NY, 11249, US |
| Region / Metro | Brooklyn |
| Year of Construction | 1995 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
440 Berry St Brooklyn Multifamily Near Core Employers
Neighborhood occupancy has been resilient with a deep renter base, according to WDSuite’s CRE market data, supporting screening for long-term leasing stability in this urban core location. Metrics cited below reflect the surrounding neighborhood rather than the property itself.
Located in Brooklyn’s Urban Core, the surrounding neighborhood rates A- and is competitive among New York-Jersey City-White Plains, NY-NJ neighborhoods (ranked 137 out of 889). Amenity access is a clear strength: restaurants, cafes, groceries, parks, and pharmacies all sit in the top quartile nationally, helping sustain day-to-day livability and reducing frictions for renters.
Renter concentration in the neighborhood is high (renter-occupied share ranks among the strongest locally), which points to a broad tenant base and supports demand depth for multifamily. Neighborhood occupancy is steady by national standards, suggesting manageable turnover and absorption potential rather than outsized vacancy risk.
Within a 3-mile radius, demographics indicate population growth and a notable increase in households over the next five years, alongside smaller average household sizes. For investors, that translates into a larger tenant base and demand that often favors studios and smaller one-bedrooms—useful context given the property’s compact average unit size. Median household incomes have been rising across the 3-mile area, further supporting rent collections and renewal potential, while still requiring thoughtful pricing and lease management where affordability pressure could emerge.
Ownership costs in this neighborhood are elevated by national comparison, which generally reinforces renter reliance on multifamily housing and can aid lease retention. At the same time, average school ratings trail national norms and should be considered when targeting family-oriented demand. Overall income performance benchmarks for the neighborhood are strong by national percentile, aligning with the area’s amenity density and renter-driven dynamics.
Safety trends are mixed but improving. The neighborhood’s crime profile sits below the national median for safety, and its metro rank indicates it is not among the safest segments of the 889 New York–area neighborhoods. However, according to WDSuite’s data, both violent and property offense rates have declined year over year, placing these improvements above many neighborhoods nationally. Investors should account for perception and management needs while recognizing the ongoing downward trend.
Proximity to major employers supports commuter convenience and renter demand, including Yahoo, AIG, Con Edison (distribution and corporate), and AmTrust Financial Services.
- Yahoo — internet/media (2.03 miles)
- Aig — insurance (2.06 miles) — HQ
- Con Edison Distribution Engineering — utilities engineering (2.11 miles)
- Consolidated Edison — utilities (2.12 miles) — HQ
- Amtrust Financial Services — insurance (2.20 miles) — HQ
Built in 1995, the 66-unit property offers a relatively newer vintage than much of the surrounding Brooklyn stock, providing competitive positioning versus older buildings while leaving room for targeted modernization to drive rent and retention. Neighborhood occupancy remains stable and the renter-occupied share is high, reinforcing demand depth; according to CRE market data from WDSuite, these dynamics are consistent with amenity-rich urban core locations that support leasing continuity.
Within a 3-mile radius, population growth, a forecast increase in households, and smaller average household sizes expand the renter pool and favor smaller-format units—aligned with this asset’s compact average unit size. Elevated ownership costs in the immediate area tend to sustain reliance on rental housing, aiding renewal prospects and pricing power, though rent-to-income levels imply careful affordability and lease management. Investors should also factor in softer school ratings and safety perceptions, even as recent crime trends show improvement.
- 1995 vintage offers competitive positioning with potential value-add through selective modernization
- Strong renter concentration and steady neighborhood occupancy support demand depth and retention
- 3-mile area shows population and household growth with smaller household sizes, favoring compact units
- High-cost ownership context can reinforce rental reliance and support pricing discipline
- Risks: below-average school ratings, safety perceptions relative to metro peers, and affordability pressure requiring active lease management