| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 95th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 61 Schermerhorn St, Brooklyn, NY, 11201, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2006 |
| Units | 69 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
61 Schermerhorn St, Brooklyn Multifamily Investment
Urban-core positioning with dense amenities and a high-cost ownership landscape supports durable renter demand, according to WDSuite’s CRE market data. Recent neighborhood trends point to a well-educated tenant base and strong schools, which can aid leasing and retention.
Located in Brooklyn’s Urban Core, the property benefits from a neighborhood rated A+ and ranked 29 out of 889 metro neighborhoods, placing it among the competitive set in New York-Jersey City-White Plains. Amenity access is a clear strength, with cafes, restaurants, groceries, pharmacies, and parks testing in the 99th–100th national percentiles, reinforcing day-to-day convenience that supports renter appeal and lease retention.
Schools are a notable differentiator: the neighborhood’s average school rating is at the top of the metro (ranked 1 of 889) and top percentile nationally. This academic profile, combined with strong household incomes (nationally high percentile), contributes to demand resilience for quality rental housing.
Construction year matters for competitive positioning. With a 2007 vintage in an area where the average construction year skews older (1957), the asset stands relatively newer versus much of the local stock. That tilt can aid marketing and operational competitiveness, though investors should still plan for periodic systems upgrades or modernization to meet current renter expectations.
Occupancy for the neighborhood has hovered below national highs in recent readings, but the locality’s amenity density and high-cost ownership market (home values testing near the top nationally) help sustain a sizable renter pool. Within a 3-mile radius, demographics indicate population growth and an expanding household base, which supports tenant demand and absorption for multifamily product over the medium term. Elevated ownership costs tend to reinforce reliance on rentals, which can help pricing power and renewal capture with careful lease management.
Safety indicators for the neighborhood trail national benchmarks, placing the area below average on national percentiles. Within the metro context, it does not rank among the safest cohorts; however, recent trend data shows improvement, with property-related offenses decreasing year over year and violent offenses edging lower. For underwriting, this points to a submarket where operational focus on security, lighting, and access control can support tenant satisfaction while monitoring whether recent declines continue.
Proximity to major employers in finance, insurance, and professional services supports a deep white-collar renter base and commute convenience. Key nearby anchors include S&P Global, AIG, Guardian Life, Robert Half, and AmTrust Financial Services.
- S&P Global — financial information & ratings (1.26 miles) — HQ
- Aig — insurance (1.29 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (1.32 miles) — HQ
- Robert Half International — professional staffing (1.40 miles)
- Amtrust Financial Services — insurance (1.50 miles) — HQ
This 2007-vintage, 69-unit asset sits in an A+-rated Brooklyn neighborhood with top-tier amenity access and schools, supporting durable renter demand and lease retention. Its comparatively newer vintage versus the neighborhood’s older stock can translate into marketing and operational advantages, with targeted capital planning to keep finishes and systems current.
High home values and elevated incomes in the neighborhood suggest a high-cost ownership market that sustains reliance on rentals. Within a 3-mile radius, population and household growth point to a larger tenant base over time, which supports occupancy stability and absorption. According to CRE market data from WDSuite, neighborhood rents and incomes test at nationally high percentiles, reinforcing the case for disciplined pricing power while monitoring submarket occupancy and safety trends in underwriting.
- Urban-core location with 99th–100th percentile amenity access and top-of-metro schools supports leasing velocity and renewals.
- 2007 vintage is newer than much of the local stock, aiding competitiveness with manageable modernization plans.
- High-cost ownership environment reinforces renter reliance, aiding pricing power with thoughtful income-to-rent screening.
- 3-mile demographics indicate population and household growth, expanding the renter pool and supporting absorption.
- Risks: neighborhood safety metrics trail national benchmarks and occupancy runs below peak levels; active security, leasing discipline, and retention programs are important.