| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 64th | Good |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1070 Bergen Ave, Brooklyn, NY, 11234, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1070 Bergen Ave, Brooklyn — 24-Unit 2003 Multifamily
A high-cost ownership market and a majority renter-occupied housing base in the surrounding neighborhood point to durable tenant demand, according to WDSuite’s CRE market data.
Situated in Brooklyn’s Urban Core, the property benefits from a neighborhood that ranks 173 out of 889 locally for overall amenities, placing it competitive among New York-Jersey City-White Plains neighborhoods and in the top quartile nationally for access to restaurants, pharmacies, and parks. This supports daily convenience and leasing appeal for residents without relying on destination commuting.
Renter demand fundamentals are underpinned by elevated home values in the neighborhood (a high-cost ownership market) and a rent-to-income profile that suggests manageable lease retention risk. Neighborhood-level occupancy is below mid-pack nationally, which argues for hands-on leasing and renewal management; however, strong amenity access and a large regional employment base help offset volatility over a full cycle. Median school ratings trend above national midpoints, adding family-friendly depth to the renter pool.
Vintage positioning matters: with a 2003 construction year versus an average neighborhood vintage from the 1970s, the asset is newer than much of the local stock. That typically improves competitive standing on systems and unit layouts while still allowing targeted upgrades to kitchens, baths, and common areas for value-add potential.
Within a 3-mile radius, demographic statistics show stable population with growth in households and income over the period reviewed, alongside a majority share of renter-occupied housing units. This combination points to a deeper tenant base and supports occupancy stability relative to older buildings, based on CRE market data from WDSuite.
Safety trends should be viewed in context. Compared with neighborhoods nationwide, this area sits below national safety percentiles; however, recent year-over-year data shows meaningful declines in both violent and property offenses, indicating improving conditions. For investors, that trajectory reduces downside risk over time but still warrants standard security measures and tenant communication.
Within the New York-Jersey City-White Plains metro (889 neighborhoods), the neighborhood’s safety profile is not among top-tier cohorts, yet the improvement trend is a constructive signal to monitor alongside leasing performance and resident feedback.
Proximity to major corporate offices expands the commuter renter base and supports retention for workforce and professional tenants. Key nearby employers include Prudential, Dr Pepper Snapple Group, S&P Global, AIG, and Guardian Life.
- Prudential — financial services (4.3 miles)
- Dr Pepper Snapple Group — beverages (6.4 miles)
- S&P Global — financial information & ratings (7.1 miles) — HQ
- AIG — insurance (7.1 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (7.1 miles) — HQ
This 24-unit property built in 2003 is positioned newer than much of the surrounding housing stock, providing a competitive edge on building systems and layouts while preserving value-add upside through selective interior and common-area upgrades. Elevated ownership costs in the neighborhood reinforce reliance on rental housing, and a majority renter-occupied share within a 3-mile radius supports a deeper tenant base and leasing durability. Neighborhood occupancy trends call for active leasing management, but strong amenity access and proximity to major employers help underpin demand.
According to CRE market data from WDSuite, the local area combines high amenity density with household income growth and improving safety trends, which together can stabilize performance through cycles. The result is a pragmatic, long-term hold profile where targeted renovations and disciplined operations can capture steady cash flow with measured risk controls.
- 2003 vintage is newer than neighborhood norms, aiding competitiveness while allowing focused value-add.
- High-cost ownership market sustains renter reliance, supporting pricing power and lease retention.
- Majority renter-occupied housing within 3 miles indicates a broad tenant base and demand depth.
- Amenity-rich urban setting and proximity to major employers support absorption and renewals.
- Risks: neighborhood-level occupancy below national midpoints and a safety profile that, while improving, still merits enhanced operating oversight.