| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 43rd | Poor |
| Amenities | 74th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 E 76th St, Brooklyn, NY, 11236, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
611 E 76th St, Brooklyn Multifamily Investment
Newer construction relative to the neighborhood’s older housing stock supports competitive positioning and steady renter interest, according to WDSuite’s CRE market data. The area’s high-cost ownership market reinforces multifamily demand without relying on aggressive assumptions.
Situated in Brooklyn’s Urban Core, the property benefits from neighborhood fundamentals that favor rentals. The surrounding area shows solid amenity access—cafes and grocery options rank competitive among 889 metro neighborhoods and sit in the top decile nationally—supporting daily convenience and renter retention. Median home values are elevated (top national tier), which tends to sustain reliance on rentals and provide firmer pricing power for landlords.
Neighborhood occupancy is measured for the neighborhood, not the property, and trends near the metro’s middle, suggesting stable but competitive leasing conditions. Within a 3-mile radius, renter-occupied housing is the majority, indicating a deep tenant base and consistent turnover velocity for small and mid-size multifamily.
Schools rate below national averages, which can modestly temper family-driven demand, while park acreage is limited nearby. Even so, daily-life amenities—pharmacies, childcare density, restaurants, and groceries—score above national norms. For investors, this mix points to workforce-oriented demand with everyday convenience that supports occupancy stability over cycles.
Forward-looking demographics (3-mile radius): populations and households are projected to grow, while average household size edges lower. This combination typically expands the renter pool and supports absorption for studios and smaller one-bedrooms, aligning with the property’s average unit size.
Safety indicators are mixed and should be evaluated in context. Relative to neighborhoods nationwide, the area sits below the national median for safety, but recent trends show improvement, with both violent and property offense rates declining year over year according to WDSuite. Within the New York–Jersey City–White Plains metro (889 neighborhoods), the neighborhood’s overall crime ranking places it around the metro middle, indicating conditions that are neither among the best nor worst locally.
For investors, the key takeaway is trajectory: recent reductions in estimated offense rates suggest risk is moving in a favorable direction. Operators should still underwrite prudent security measures and tenant screening while monitoring submarket trendlines.
A broad corporate base across finance, insurance, and consumer goods within commuting distance supports renter demand and lease retention. The employers listed below reflect nearby workforce anchors likely to drive steady housing needs.
- Prudential — insurance/financial services (4.1 miles)
- Dr Pepper Snapple Group — beverages (6.0 miles)
- Aig — insurance (6.6 miles) — HQ
- S&P Global — financial information & ratings (6.6 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.7 miles) — HQ
- Robert Half International — staffing & professional services (6.8 miles)
- Amtrust Financial Services — insurance (6.9 miles) — HQ
- Assurant — insurance (6.9 miles) — HQ
- Avon Products — consumer goods (7.0 miles) — HQ
- Bank of New York Mellon Corp. — banking & custody (7.4 miles) — HQ
Built in 2007, this 40-unit asset is materially newer than the neighborhood’s mid-century housing stock, positioning it competitively versus older properties and reducing near-term capital exposure while still offering selective modernization upside. Elevated home values locally support sustained rental reliance, and within a 3-mile radius households and families are projected to grow, expanding the tenant base for smaller formats and supporting occupancy stability.
Neighborhood occupancy and rent levels trend around the metro middle, which supports durable operations without requiring outsized rent growth assumptions; according to CRE market data from WDSuite, amenity density and grocery access are strong relative to national benchmarks, further aiding retention. Key underwrite considerations include below-average school ratings, limited park access in the immediate area, and safety metrics that, while improving, remain below national norms.
- 2007 vintage offers competitive positioning vs. older local stock with manageable capital planning and targeted value-add potential.
- High-cost ownership environment reinforces renter demand and supports pricing power for well-operated assets.
- Growing households within 3 miles indicate a larger renter pool and steady absorption for smaller units.
- Strong amenity and grocery access aids tenant retention and reduces leasing friction.
- Risks: below-national safety and school ratings; limited parks—underwrite security, resident services, and marketing accordingly.