| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 43rd | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 64 W 9th St, Brooklyn, NY, 11231, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2000-06-26 |
| Transaction Price | $265,000 |
| Buyer | 64-78 WEST 9TH LLC |
| Seller | WALWORD PROPERTIES INC |
64 W 9th St Brooklyn Multifamily Investment, 24 Units
Built in 2002, this 24‑unit asset benefits from a renter-driven urban core where neighborhood occupancy has held in the low‑90s and elevated ownership costs sustain rental demand, according to WDSuite’s CRE market data.
The property sits in Brooklyn’s Urban Core, where neighborhood livability metrics are competitive among New York–Jersey City–White Plains neighborhoods (238th of 889). Daily-needs access is strong: grocery, restaurant, park, and pharmacy density all trend in the national top quartile, while cafe density is thinner—suggesting convenience for residents’ essentials with fewer third‑space options nearby, based on CRE market data from WDSuite.
With a neighborhood average construction year around 1952, the 2002 vintage positions this asset as newer than much of the local housing stock—supporting relative competitiveness versus older buildings while still warranting routine system updates over the hold period.
Within a 3‑mile radius, households have grown in recent years and are projected to increase further, implying a larger tenant base and supporting occupancy stability. The renter-occupied share within 3 miles is approximately seven in ten units, indicating deep multifamily demand and a broad leasing funnel. Median contract rents in the area have risen and are forecast to continue growing, reinforcing pricing power if unit quality and operations are maintained.
Home values in the immediate neighborhood are elevated relative to national norms, which typically sustains reliance on rental housing and can aid lease retention. At the same time, rent-to-income readings indicate some affordability pressure, suggesting investors should prioritize renewal strategies and thoughtful rent setting to balance retention with revenue growth.
School ratings in the neighborhood trend below national averages, which may limit appeal for some family-oriented renters but is less likely to deter demand from singles and couples drawn by access to jobs, parks, and services.
Safety conditions reflect a dense urban core profile and sit below national medians; however, recent year trends show declines in both property and violent offenses, according to WDSuite. Relative to the New York–Jersey City–White Plains metro’s 889 neighborhoods, this area remains an urban environment where prudent security measures and active property management can support tenant retention.
Proximity to major corporate employers underpins renter demand and commute convenience, with a concentration of financial services and corporate offices within 3 miles: Dr Pepper Snapple Group, S&P Global, Robert Half, Guardian Life, and AIG.
- Dr Pepper Snapple Group — beverages (0.78 miles)
- S&P Global — financial analytics (1.87 miles) — HQ
- Robert Half International — staffing & recruiting (1.92 miles)
- Guardian Life Ins. Co. of America — life insurance (1.93 miles) — HQ
- Aig — insurance & financial services (2.07 miles) — HQ
This 2002, 24‑unit property offers relative durability in a high‑cost ownership market where renter demand is supported by a large, growing household base within 3 miles. Compared with older neighborhood stock, the vintage provides competitive positioning and potential to capture rent growth as nearby amenities and employment anchors reinforce leasing fundamentals. According to CRE market data from WDSuite, neighborhood occupancy has remained in the low‑90s, and elevated home values continue to support multifamily reliance.
Investor focus should include asset modernization to stay ahead of renovated comparables, renewal strategies that account for rent‑to‑income pressures, and prudent safety measures consistent with dense urban locations. Forward household gains and a high renter‑occupied share point to a resilient tenant funnel, while softer school ratings and urban safety metrics are manageable risks with professional operations.
- Newer 2002 vintage versus older neighborhood stock supports leasing and reduces near‑term capex risk relative to legacy assets.
- High-cost ownership landscape reinforces reliance on rentals, aiding retention and pricing power when operations are disciplined.
- Within 3 miles, rising household counts and a large renter‑occupied share deepen the tenant base and support occupancy stability.
- Risks: some affordability pressure (rent‑to‑income), below‑median school ratings, and urban safety profile—manageable with targeted renewals, screening, and on‑site measures.