| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 82nd | Best |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 568 Union Ave, Brooklyn, NY, 11211, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2011 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
568 Union Ave Brooklyn Multifamily Investment Opportunity
Renter demand at the neighborhood level is reinforced by dense amenities and a high share of renter-occupied units, according to WDSuite’s CRE market data. For investors, this supports steady leasing and pricing power relative to broader metro dynamics.
Located in Brooklyn s Urban Core, the surrounding neighborhood rates A+ and is competitive among New York-Jersey City-White Plains metro neighborhoods (ranked 7th of 889). Amenity access is a clear strength: restaurants, cafes, parks, pharmacies, and grocery options register in the top quartile nationally, aiding day-to-day convenience and helping properties maintain leasing velocity.
From an operations perspective, neighborhood occupancy trends are healthy around the metro context, and NOI per unit for the neighborhood sits in the top national tier, based on CRE market data from WDSuite. Median contract rents in the neighborhood have trended upward over the last five years, while the neighborhood s renter concentration (78%+ of housing units renter-occupied) indicates a deep tenant base for multifamily assets.
Three-mile demographics point to an expanding tenant pool: population and households have grown in recent years, with forecasts indicating further population growth and a notable increase in households. Household sizes are edging lower, which can favor demand for smaller units and support occupancy stability. Income measures within three miles have risen meaningfully, aligning with sustained renter pool expansion and durable absorption.
Ownership costs locally are elevated relative to incomes, and home values rank in the top national percentiles. In practice, this high-cost ownership market tends to reinforce renter reliance on multifamily housing and can support lease retention. School quality indicators are around national mid-range, which may modestly influence family-driven demand but does not diminish the area s broader appeal for urban renters.
Vintage context: the property s 2011 construction is newer than the neighborhood s average vintage (1970s). That positioning generally enhances competitiveness versus older stock, though investors should still plan for routine system updates and selective modernization to sustain rent positioning over the hold.
Safety benchmarks for the neighborhood trail national averages, with crime indicators positioned below the national median. Within the metro, the neighborhood is mid-pack (crime rank 423 of 889), reflecting typical Urban Core dynamics. Notably, recent trend data shows year-over-year declines in both violent and property offenses, which is constructive for long-term stability.
For investors, the takeaway is risk management rather than avoidance: security features, lighting, and active property management can help address perceptions while proximity to dense amenities and transit supports foot traffic and activation.
Nearby corporate employers contribute to a broad, white-collar employment base that supports renter demand and retention through commute convenience. Key nodes include Con Edison, Consolidated Edison, Yahoo, New York Life, and Jetblue Airways.
- Con Edison Distribution Engineering d corporate offices (2.2 miles)
- Consolidated Edison d corporate offices (2.2 miles) d HQ
- Yahoo d corporate offices (2.3 miles)
- New York Life Insurance Company d corporate offices (2.3 miles)
- Jetblue Airways d corporate offices (2.4 miles) d HQ
568 Union Ave offers scale (102 units) in a high-demand Brooklyn Urban Core setting where renter-occupied housing is prevalent and amenity density is among the strongest nationally. Neighborhood occupancy is solid and NOI per unit benchmarks are in the top national tier; coupled with three-mile household and income growth, this underpins a larger tenant base and supports leasing durability. The 2011 vintage is newer than much of the local housing stock, enhancing competitive positioning against older properties while still warranting ongoing system maintenance and targeted upgrades.
According to CRE market data from WDSuite, elevated home values in the area sustain reliance on multifamily rentals, and neighborhood rent levels have moved higher over the past five years. Key considerations include safety measures typical of dense urban locations and prudent affordability management as rents rise with incomes.
- Urban Core location with top-tier amenity access supporting demand and retention
- Newer 2011 construction versus local averages, with value in selective modernization
- Strong neighborhood operating profile and expanding three-mile renter pool
- High-cost ownership market reinforces multifamily reliance and pricing power
- Risks: urban safety management and affordability/retention monitoring as rents rise