| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 55th | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3692 Bedford Ave, Brooklyn, NY, 11229, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2008 |
| Units | 52 |
| Transaction Date | 1995-08-31 |
| Transaction Price | $226,000 |
| Buyer | TUROFSKY CHARLES |
| Seller | LERMAN BORIS |
3692 Bedford Ave Brooklyn Multifamily Investment
Neighborhood occupancy sits in the low-90s and renter concentration is elevated, indicating a durable tenant base for stabilized operations, according to WDSuite’s CRE market data. Strong amenity access supports leasing while ownership costs in this high-cost market tend to sustain rental demand.
Located in Brooklyn’s Urban Core, the neighborhood ranks in the top quartile among 889 metro neighborhoods (A rating), signaling competitive fundamentals for multifamily. The property’s 2008 construction is newer than the neighborhood’s typical 1980 vintage, which supports relative competitiveness versus older stock while still leaving room for selective modernization as systems age.
Amenity access is a clear strength: cafes, restaurants, parks, pharmacies, childcare, and grocery options all benchmark high nationally (many in the 90th percentile or better). This density of daily-needs retail and services generally supports leasing velocity and retention for workforce and professional renters.
The neighborhood’s renter-occupied share is above metro norms, indicating depth in the tenant pool and demand stability for mid-size assets. Within a 3-mile radius, demographics show modest population contraction over the past five years but a net increase in households and a projected rise in households alongside smaller average household sizes by 2028. For investors, that mix points to a steady or expanding renter pool, which can support occupancy and renewal activity.
Ownership is expensive relative to incomes (very high value-to-income ratios) while contract rents benchmark above the national median but below the area’s ownership costs. In practice, this high-cost ownership market tends to reinforce renter reliance on multifamily housing, supporting pricing power, though operators should manage retention as rent-to-income levels point to some affordability pressure.
Safety compares below the national median for neighborhoods, but recent trends are improving, with both violent and property offense rates declining year over year. For investors, the directional improvement is constructive for leasing and retention, while underwriting should conservatively reflect the area’s below-average national safety positioning.
Proximity to major corporate offices across finance, insurance, and consumer brands supports commuter convenience and a diversified renter base. Key nearby employers include Dr Pepper Snapple Group, Prudential, S&P Global, Guardian Life, and AIG.
- Dr Pepper Snapple Group — consumer products (5.9 miles)
- Prudential — financial services (6.4 miles)
- S&P Global — financial information (7.0 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (7.1 miles) — HQ
- Aig — insurance (7.1 miles) — HQ
3692 Bedford Ave is a 52-unit asset built in 2008, positioning it newer than much of the surrounding housing stock. Amenity-rich neighborhood fundamentals, a renter-tilted unit tenure profile, and household growth within a 3-mile radius point to demand resilience and occupancy stability. Elevated ownership costs in the area further support multifamily renter reliance. Based on commercial real estate analysis informed by WDSuite, neighborhood occupancy trends and leasing drivers remain competitive versus broader metro benchmarks.
Investor considerations include managing rent-to-income affordability pressure and monitoring safety metrics that, while improving, remain below the national median. Selective value-add—common-area refresh, in-unit finishes, and systems updates as the 2008 vintage matures—can enhance retention and support rent positioning relative to older comparables.
- 2008 vintage offers competitive positioning versus older local stock with targeted value-add potential
- Amenity-dense Urban Core location supports leasing velocity and renewal rates
- Renter-occupied share and projected household growth within 3 miles support demand depth
- High-cost ownership market reinforces multifamily reliance and pricing power
- Risks: below-median national safety metrics and affordability pressure require disciplined lease management