| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 43rd | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 76 Meserole St, Brooklyn, NY, 11206, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 49 |
| Transaction Date | 2014-05-08 |
| Transaction Price | $35,600,000 |
| Buyer | 80 MESEROLE NF LLC |
| Seller | CORNELL MESEROLE DE LLC |
76 Meserole St, Brooklyn — 49-Unit 2011 Multifamily
Neighborhood occupancy is strong and has trended upward, supporting stable leasing conditions; according to WDSuite’s CRE market data, the surrounding area shows deep renter demand relative to ownership alternatives. All occupancy and demand indicators cited reflect neighborhood-level performance, not the property itself.
Situated in Brooklyn’s Urban Core, the property benefits from a neighborhood rated A and ranked 110 out of 889 within the New York–Jersey City–White Plains metro, indicating it is competitive among metro neighborhoods. Amenity density is a clear strength, with exceptional access to groceries, pharmacies, parks, restaurants, and cafes that supports day-to-day convenience and renter retention.
The area skews heavily renter-occupied at the neighborhood level, with a high renter concentration that points to a large tenant base and durable multifamily demand. Neighborhood occupancy stands in the low-to-mid 90s and has improved over the past five years, a favorable backdrop for maintaining lease-up velocity and limiting downtime in line with broader metro trends.
Within a 3-mile radius, demographics show population growth alongside an even faster increase in households, implying smaller average household sizes and a broader renter pool. Forecasts point to further population and household gains, which, if realized, would expand the tenant base and support occupancy stability for professionally managed assets. Median contract rents in the radius have risen over time while remaining sensitive to rent-to-income dynamics, suggesting ongoing lease management and renewal strategies are important to mitigate affordability pressure.
Ownership costs in the neighborhood are elevated relative to incomes, which tends to reinforce reliance on rental housing and can support pricing power for well-located multifamily. Average school ratings in the broader neighborhood trail national norms, which may modestly temper appeal for family renters; however, the amenity-rich urban setting and strong employment access remain primary demand drivers for many cohorts.
The asset’s 2011 vintage is newer than the neighborhood’s older housing stock, positioning it competitively versus pre-1980 product while still warranting periodic system updates and common-area refreshes to sustain performance and renter appeal.
Safety indicators for the neighborhood compare below national averages, with both violent and property offense rates elevated relative to many U.S. neighborhoods. Within the metro, the area ranks 347 out of 889 neighborhoods, signaling mid-to-lower-tier comparative performance.
Recent trends are constructive: estimated violent and property offense rates have declined year over year, indicating improvement. Investors commonly account for this context through enhanced building access controls, lighting, and coordination with professional management to support resident comfort and retention.
Proximity to major employers in technology, utilities, insurance, and airlines supports a diverse white-collar and operations workforce, underpinning renter demand and commute convenience for residents. The nearby employment base includes Con Edison Distribution Engineering, Yahoo, Consolidated Edison, New York Life Insurance Company, and JetBlue Airways.
- Con Edison Distribution Engineering — utilities engineering (2.83 miles)
- Yahoo — technology/media offices (2.83 miles)
- Consolidated Edison — utilities (2.84 miles) — HQ
- New York Life Insurance Company — insurance (2.98 miles)
- Jetblue Airways — airlines (3.02 miles) — HQ
76 Meserole St offers 49 units in a 2011-vintage building positioned in an A-rated, amenity-rich Brooklyn neighborhood where renter concentration is high and occupancy has trended upward. The combination of elevated home values relative to incomes and strong access to daily amenities supports deep renter demand and retention, while the asset’s newer construction provides a competitive edge versus the area’s older housing stock.
Within a 3-mile radius, recent population growth and a faster rise in household counts point to a larger tenant base and continued renter pool expansion. According to CRE market data from WDSuite, neighborhood-level occupancy is solid compared with national benchmarks, and forecast household gains suggest durable demand—though affordability pressures and school quality should be monitored and reflected in leasing strategies.
- High renter-occupied share and strong neighborhood occupancy support stable leasing and retention
- 2011 vintage offers competitive positioning versus older stock with targeted modernization potential
- Amenity-rich urban core location near major employers underpins consistent demand
- Elevated ownership costs reinforce reliance on rental housing and pricing power for well-run assets
- Risks: below-national safety metrics and affordability pressure require proactive management and resident services