| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 544 Union Ave, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2012 |
| Units | 98 |
| Transaction Date | 2010-10-04 |
| Transaction Price | $13,500,000 |
| Buyer | 544 UNION AVENUE LLC |
| Seller | 544 UNION OWNER LLC |
544 Union Ave Brooklyn Multifamily Investment
A 2012, 98-unit asset in an Urban Core pocket of Brooklyn where neighborhood occupancy holds near the mid-90s and renter concentration is high, according to WDSuite’s CRE market data. Strong amenity density and elevated ownership costs support durable renter demand and pricing power.
Situated in Kings County’s Urban Core, the neighborhood ranks among the top quartile of the New York–Jersey City–White Plains metro (7 of 889) with an A+ neighborhood rating, per WDSuite. Amenity access is a defining strength: cafes, restaurants, groceries, parks, and pharmacies score in the 99th–100th national percentiles, reinforcing livability and helping sustain multifamily leasing velocity.
Neighborhood occupancy is 95.0% and has edged higher over the past five years, indicating resilient demand even as new supply cycles through. Renter-occupied housing is prevalent (neighborhood share near the upper end of the metro and 3‑mile area), deepening the tenant base and supporting stabilization strategies. Median contract rents and household incomes both sit well above national benchmarks, while elevated home values (99th percentile nationally) signal a high-cost ownership market that tends to reinforce reliance on multifamily rentals rather than compete with them.
Demographic statistics are aggregated within a 3‑mile radius: population and households have expanded over the last five years, with WDSuite data indicating continued household growth through 2028. Shrinking average household size points to more, smaller households, which can broaden the renter pool and support occupancy stability for professionally managed buildings.
Vintage positioning matters: the neighborhood’s average construction year skews older (1974), while this property’s 2012 delivery offers a relative competitive edge versus legacy stock. Investors should still plan for mid‑life systems upkeep and potential repositioning, but the newer vintage can reduce near‑term capital intensity compared with older comparables.
This is a dense urban neighborhood with safety metrics that trail national benchmarks, based on WDSuite’s crime indices. Year over year, both estimated violent and property offense rates show improvement, which is a constructive directional trend, though the area still compares less favorably than many neighborhoods nationwide.
For context, safety varies block to block in urban cores; investors typically underwrite with enhanced on‑site security measures, lighting, and access controls, and consider how proximity to high‑traffic amenities and transit influences perceived safety and retention. Relative performance should be evaluated against other New York metro neighborhoods rather than suburban or national baselines.
Proximity to large corporate offices supports a substantial commuter renter base and can aid retention for workforce and professional tenants. Key nearby employers include Con Edison, Consolidated Edison, New York Life Insurance Company, Yahoo, and JetBlue Airways.
- Con Edison Distribution Engineering — utilities (2.2 miles)
- Consolidated Edison — utilities (2.3 miles) — HQ
- New York Life Insurance Company — insurance (2.3 miles)
- Yahoo — media & technology (2.3 miles)
- Jetblue Airways — aviation (2.4 miles) — HQ
544 Union Ave offers investors a newer‑vintage (2012) 98‑unit asset positioned in a top‑ranked Brooklyn neighborhood where amenity density and elevated ownership costs underpin durable renter demand. Neighborhood occupancy is approximately 95% with modest five‑year improvement, and renter-occupied housing shares in the neighborhood and surrounding 3‑mile area are high—conditions that typically support lease‑up and renewal performance. According to CRE market data from WDSuite, the area’s household incomes and contract rents exceed national norms, while household growth and smaller household sizes point to an expanding renter pool.
Relative to the metro’s older building stock, the 2012 vintage provides competitive positioning and potentially lower near‑term capital needs, though investors should plan for mid‑life systems maintenance and selective modernization to sustain pricing power. Safety metrics remain below national averages but have improved year over year; underwriting should reflect appropriate operational controls and retention strategies.
- Amenity‑rich Urban Core location with top‑quartile metro ranking and strong leasing fundamentals
- High renter concentration and ~95% neighborhood occupancy support demand stability
- 2012 construction offers competitive positioning versus older metro inventory with manageable capex planning
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power and retention
- Risk: Safety benchmarks trail national averages; assume appropriate security, tenant engagement, and operating controls