| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 64th | Good |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1086 Bergen Ave, Brooklyn, NY, 11234, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2016-06-06 |
| Transaction Price | $25,766,000 |
| Buyer | SANDY BERGEN LLC |
| Seller | RALPH AVENUE ASSOCIATES PHASE II LLC |
1086 Bergen Ave, Brooklyn NY Multifamily Investment
2003 vintage, 24-unit asset positioned in a high-amenity Brooklyn neighborhood where elevated ownership costs sustain renter demand, according to CRE market data from WDSuite. Neighborhood fundamentals point to durable renter interest with scope for strategic upgrades to keep competitiveness versus older local stock.
The immediate neighborhood rates A and is competitive among New York–Jersey City–White Plains metro neighborhoods (ranked 134 out of 889), per WDSuite. Amenity density is a clear strength: restaurants and cafes score in the top quartile nationally, with pharmacies and parks also testing well above national medians. This mix supports renter convenience and day-to-day livability, which can aid leasing and retention.
Local schools average roughly mid-to-above-median performance (around the 70th percentile nationally), offering a balanced family appeal relative to other urban core locations. Median contract rents in the neighborhood are above national norms, while the rent-to-income ratio trends lower than many peer areas nationally, a combination that can support pricing without pushing retention risk as quickly.
The property’s 2003 construction is newer than the area’s typical vintage (1970s on average across the neighborhood), which positions it competitively versus older buildings. Investors should still plan for mid-life system refreshes and unit updates to maintain standing against ongoing renovations in the submarket.
Within a 3-mile radius, demographics indicate a large renter base and household growth over the last five years, with forecasts calling for further increases in households and incomes. This points to a larger tenant base over time and supports occupancy stability even as household sizes trend smaller, which can favor multifamily demand. Elevated home values locally reflect a high-cost ownership market, reinforcing renter reliance on multifamily housing and supporting lease stability for well-managed assets, based on WDSuite’s CRE market data.
Safety conditions should be evaluated with care. The neighborhood’s crime rank sits closer to the higher-crime end within the New York–Jersey City–White Plains metro (rank 162 of 889, where lower ranks indicate more crime). Compared with neighborhoods nationwide, safety tests below average; however, WDSuite data show meaningful year-over-year improvement, with both violent and property offenses trending down materially, suggesting directional progress.
Investors may wish to incorporate conservative underwriting for security measures and tenant communication, while recognizing the improving trend line. As always, conditions vary block to block; on-the-ground diligence is recommended.
Nearby corporate offices in financial services and consumer goods bolster the local employment base, supporting commuter convenience and renter demand. Key employers include Prudential, Dr Pepper Snapple Group, S&P Global, AIG, and Guardian Life.
- Prudential — insurance (4.3 miles)
- Dr Pepper Snapple Group — beverages (6.4 miles)
- S&P Global — financial data & ratings (7.1 miles) — HQ
- Aig — insurance (7.1 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (7.1 miles) — HQ
1086 Bergen Ave brings 24 units with relatively generous average floor plans (~903 sq. ft.) and a 2003 vintage that compares favorably to the neighborhood’s older housing stock. Elevated home values and a high value-to-income backdrop in the neighborhood point to a high-cost ownership market, which helps sustain multifamily demand and lease retention for competitive assets. According to CRE market data from WDSuite, neighborhood rents sit above national norms while rent-to-income trends are comparatively manageable, supporting revenue without outsized near-term affordability pressure.
Within a 3-mile radius, households have increased and are forecast to expand further, even as average household size declines. That dynamic typically enlarges the renter pool and can support occupancy stability for well-located properties. While neighborhood-level occupancy has softened in recent years, the property’s newer construction relative to local vintage, practical unit sizes, and access to strong employment centers present a defensible long-term position with value-add potential through targeted renovations and operational execution.
- 2003 vintage outcompetes older local stock; plan selective system and interior updates for continued edge
- Large renter base and household growth within 3 miles support a deeper tenant pool and leasing durability
- High-cost ownership market underpins rental demand and helps sustain retention and pricing power
- Access to major employers aids commuter convenience and broadens the demand catchment
- Risks: neighborhood crime tests below national averages and occupancy has trended softer; underwrite security and lease-up prudently