| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 86th | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 528 Bergen St, Brooklyn, NY, 11217, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2006 |
| Units | 21 |
| Transaction Date | 2018-07-30 |
| Transaction Price | $8,600,000 |
| Buyer | ATLANTIC TERRA LLC |
| Seller | 528 BERGEN STREET LLC |
528 Bergen St, Brooklyn — 2006 Multifamily Investment
Well-located in Brooklyn’s urban core, this 21-unit asset benefits from a deep renter base and a high-cost ownership market, according to WDSuite’s commercial real estate analysis of neighborhood fundamentals.
The property sits in an Urban Core neighborhood rated A+ and competitive among New York–Jersey City–White Plains neighborhoods (top quartile among 889). Surrounding blocks offer exceptional daily convenience—restaurants, parks, groceries, cafes, and pharmacies score in the highest national percentiles—supporting tenant retention and lease-up.
With a renter-occupied share of housing at the neighborhood level that is elevated versus most areas nationwide, the tenant base is deep and supports consistent multifamily demand. Within a 3-mile radius, households have grown in recent years and are projected to continue increasing, pointing to a larger tenant pool and support for occupancy stability.
Median contract rents in the neighborhood reflect a premium market, and home values rank in the highest national percentile. This high-cost ownership environment tends to reinforce reliance on rental housing, which can support pricing power and lease retention for well-positioned assets. The neighborhood’s rent-to-income dynamics also suggest manageable affordability pressure relative to local incomes, which is constructive for renewals and collections.
Built in 2006, the property is newer than the neighborhood’s older average building vintage. That positioning can enhance competitiveness versus pre-war stock, while investors should still plan for mid-life system updates and selective modernization to sustain performance. Neighborhood-level NOI per unit trends rank in the upper national percentiles, which, based on CRE market data from WDSuite, indicates strong area income performance that well-managed assets can tap into.
Safety indicators for the neighborhood trend below national norms, with neighborhood rankings sitting in the lower national percentiles. Within the New York–Jersey City–White Plains metro, the area places around the middle of the pack (462 out of 889), indicating conditions that warrant standard risk management and building-level security practices.
Recent neighborhood estimates show year-over-year declines in both violent and property offense rates, according to CRE market data from WDSuite. While one-year improvements are constructive, investors should underwrite to local trend volatility and emphasize proven operating controls, lighting, and access systems to support resident satisfaction and retention.
Proximity to major corporate employers supports renter demand and commute convenience for residents. Notable nearby offices include Dr Pepper Snapple Group, AIG, S&P Global, Guardian Life, and Robert Half.
- Dr Pepper Snapple Group — corporate offices (2.4 miles)
- AIG — corporate offices (2.5 miles) — HQ
- S&P Global — corporate offices (2.5 miles) — HQ
- Guardian Life Ins. Co. of America — corporate offices (2.5 miles) — HQ
- Robert Half International — corporate offices (2.6 miles)
528 Bergen St offers a 2006-vintage, 21-unit footprint in a top-quartile Brooklyn neighborhood where renter concentration and a high-cost ownership market reinforce sustained multifamily demand. Surrounding amenities score in the highest national percentiles, supporting resident satisfaction and lease retention. Within a 3-mile radius, recent and projected household growth points to a larger tenant base and supports occupancy stability over the medium term.
The 2006 vintage is newer than much of the area’s older housing stock, providing competitive positioning versus pre-war assets while still calling for prudent mid-life capital planning. Neighborhood-level NOI per unit trends are strong, and, according to CRE market data from WDSuite, rents reflect a premium submarket that can reward well-executed operations. Investors should account for neighborhood safety metrics that trail national averages and for leasing competitiveness given metro-wide supply dynamics.
- Newer 2006 vintage versus older neighborhood stock, with potential to outperform peers via selective modernization
- Deep renter base and high-cost ownership market reinforce rental demand and retention
- Amenity-rich Urban Core location supports leasing velocity and resident satisfaction
- 3-mile household growth and rising incomes expand the tenant pool, aiding occupancy stability
- Risk: Neighborhood safety metrics below national norms require active property-level controls