| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 64th | Good |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1054 Bergen Ave, Brooklyn, NY, 11234, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1054 Bergen Ave Brooklyn Multifamily Investment
2003 vintage in an Urban Core pocket with strong renter demand signals and high ownership costs that tend to support leasing durability, according to WDSuite’s CRE market data.
Positioned in Brooklyn’s Urban Core, the property benefits from a neighborhood rated A and ranked in the top quartile among 889 metro neighborhoods, indicating competitive fundamentals versus much of the New York–Jersey City–White Plains metro. Amenity access is a clear strength, with restaurants, cafes, pharmacies, parks, and groceries all testing well above national medians, which supports renter appeal and day-to-day convenience.
The area’s housing stock skews older (average 1974), so a 2003-built asset can compete effectively against legacy inventory. Elevated home values relative to incomes (high national percentile for value-to-income) point to a high-cost ownership market, which typically sustains reliance on multifamily housing and can aid lease retention. Neighborhood rent-to-income sits at a relatively moderate level, a dynamic that can help manage affordability pressure and turnover risk.
Tenure patterns and demographics reinforce depth of the tenant base. Within a 3-mile radius, a majority of housing units are renter-occupied, and households have increased even as average household size has trended slightly smaller—both dynamics that expand the effective renter pool and can support occupancy stability. Neighborhood-level occupancy has run below metro leaders recently, so investors should plan for active leasing and renewal management while leveraging the area’s amenity strengths to drive absorption.
Schools in the area trend above national medians on average, and the neighborhood’s cafe, restaurant, and park densities compare favorably to national benchmarks. Forward-looking household and income projections within 3 miles indicate a larger, higher-earning renter base over the next five years, which supports medium-term rent growth and renewal potential when combined with prudent unit positioning and finishes.
Safety trends should be viewed in context. Compared with neighborhoods nationwide, property and violent offense measures sit below the national median for safety (lower national percentiles), indicating a more urban risk profile. However, year-over-year data show meaningful improvement, with double-digit percentage declines in estimated property and violent offenses, suggesting momentum in the right direction based on WDSuite’s data.
Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is contextual rather than determinative; investors should benchmark specific asset security measures and lease management practices against comparable Urban Core assets. The takeaway: conditions are improving, but underwriting should include prudent allowances for security, lighting, and community engagement appropriate for dense city submarkets.
Proximity to a deep white-collar employment base supports renter demand and lease retention, led by financial services and corporate offices alongside a major consumer beverages employer.
- Prudential — financial services (4.3 miles)
- Dr Pepper Snapple Group — beverages (6.3 miles)
- Aig — financial services (7.0 miles) — HQ
- S&P Global — financial services & ratings (7.0 miles) — HQ
- Guardian Life Ins. Co. of America — financial services (7.1 miles) — HQ
1054 Bergen Ave offers investors a 2003-built, 24-unit asset in a neighborhood that tests in the top quartile of the New York metro for overall fundamentals. The submarket’s strong amenity density, high ownership costs, and majority renter-occupied housing within a 3-mile radius point to durable multifamily demand and renewal potential. According to CRE market data from WDSuite, the area’s rent-to-income dynamics are relatively manageable, which can support lease retention while allowing disciplined rent setting.
The vintage is newer than much of the local housing stock, creating an advantage over older comparables; after two decades, targeted updates to interiors and building systems can further enhance competitiveness and capture demand from an expanding, higher-earning renter pool projected within 3 miles. Underwriting should note that neighborhood occupancy trails metro leaders, making proactive leasing and tenant experience initiatives important to sustain performance.
- Newer 2003 vintage relative to a 1970s-heavy neighborhood stock supports competitive positioning
- High-cost ownership market reinforces reliance on rentals, aiding pricing power and renewals
- Amenity-rich Urban Core location and strong employer access underpin tenant demand
- Manageable rent-to-income profile can support retention with disciplined rent strategy
- Risk: neighborhood occupancy trails metro leaders; requires active leasing and renewal management