| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 Union Ave, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2007 |
| Units | 43 |
| Transaction Date | 2023-06-09 |
| Transaction Price | $26,775,000 |
| Buyer | 525-535 UNION PARTNERS LLC |
| Seller | 525 UNION AVENUE REALTY ASSOCIATES LLC |
525 Union Ave, Brooklyn Multifamily Opportunity
Renter demand is reinforced by a high-cost ownership landscape and solid neighborhood occupancy, according to WDSuite’s CRE market data. This positioning supports income stability for a professionally managed, mid-2000s asset in a deep tenant pool.
Situated in Brooklyn’s Urban Core, the property benefits from a neighborhood rated A+ with competitive performance among 889 metro neighborhoods (ranked 7th). Amenity access is a clear strength: cafés, restaurants, parks, groceries, and pharmacies score in the top nationally, helping support leasing velocity and retention. School ratings are roughly around the national middle, which neither materially enhances nor detracts from renter appeal for most urban multifamily demand profiles.
For investors, the rental backdrop is favorable. Neighborhood occupancy is strong relative to national benchmarks, and the share of renter-occupied housing is high (78%+), indicating a deep, established tenant base rather than reliance on for-sale alternatives. Median home values sit near the top nationally, signaling a high-cost ownership market that tends to sustain rental demand and pricing power, while the neighborhood’s rent-to-income level suggests manageable lease burdens that can aid retention and reduce turnover risk.
Demographic statistics aggregated within a 3-mile radius point to population growth with an expanding, higher-income renter pool over recent years, and households are projected to increase further, which supports future demand for rental units. Household sizes are trending smaller in the area, a pattern that typically favors well-located multifamily and helps stabilize occupancy through varied economic cycles, based on CRE market data trends from WDSuite.
Vintage also matters: the asset’s 2007 construction is newer than the neighborhood’s average vintage (1970s era). That positioning can be competitively advantageous versus older stock, while still leaving room for targeted modernization or systems upgrades to drive rent premiums and operating efficiency.
Safety trends should be weighed with context. The neighborhood performs below national safety averages (violent and property offense levels sit in low national percentiles), yet year-over-year estimates indicate improvement, with declines in both violent and property offense rates. Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is above the metro median among 889 neighborhoods, reflecting relatively better positioning locally even if national comparisons remain weaker.
For underwriting, this suggests a pragmatic stance: recognize below-average national safety readings, factor in recent downward trends, and benchmark retention and marketing strategies against nearby Brooklyn submarkets showing similar urban-core dynamics.
A diversified employment base within a short commute underpins renter demand and lease retention, notably across utilities, media/tech, insurance, and telecom represented below.
- Con Edison Distribution Engineering — utilities (2.3 miles)
- Consolidated Edison — utilities (2.3 miles) — HQ
- Yahoo — media & tech offices (2.3 miles)
- New York Life Insurance Company — insurance (2.3 miles)
- Verizon Communications — telecom (2.5 miles)
525 Union Ave combines a deep renter base with location advantages that support occupancy stability and pricing power. The neighborhood posts strong amenity access and high renter concentration, while elevated ownership costs reinforce reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy outperforms many U.S. areas and rent levels relative to income indicate manageable affordability pressure, which can aid lease retention.
Built in 2007 with 43 units, the asset is newer than much of the surrounding housing stock, providing a competitive edge versus older buildings and potential for targeted value-add through modernization. Demographic statistics within a 3-mile radius show recent growth and a higher-income profile, with households expected to increase further — a backdrop that supports a larger tenant base and steady absorption over time. Key risks include below-average national safety metrics and average school ratings, which should be considered in marketing and tenant retention strategies.
- High renter-occupied share and strong neighborhood occupancy support income stability
- Elevated home values sustain rental demand and reduce competition from ownership
- 2007 vintage offers competitive positioning versus older stock with value-add potential
- 3-mile radius demographics point to population and household growth, expanding the renter pool
- Risk: below-average national safety readings and average schools warrant active retention strategies