| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 43rd | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 682 Bushwick Ave, Brooklyn, NY, 11221, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 23 |
| Transaction Date | 2011-03-01 |
| Transaction Price | $772,938 |
| Buyer | WILLOUGHBY 7 INC |
| Seller | THE BROOKLYN ORGANIZATION LLC |
682 Bushwick Ave Brooklyn Multifamily Investment
Neighborhood occupancy is competitive among New York metro submarkets, supporting stable renter demand according to CRE market data from WDSuite. Figures cited reflect neighborhood conditions, not the property, offering context for screening this 23-unit asset.
Bushwick delivers dense urban fundamentals that favor multifamily performance: abundant groceries, pharmacies, parks, cafes, and restaurants sit in the highest national percentiles, indicating daily convenience that helps attract and retain tenants. The neighborhood ranks 110th of 889 metro neighborhoods (A rating), and occupancy in the neighborhood is competitive among New York Jersey City White Plains neighborhoods, aiding income durability at stabilized assets (per WDSuite). Note that these conditions reference the neighborhood, not the subject property.
With 84.9% of housing units renter-occupied, the area exhibits a deep renter base that supports leasing velocity and renewal potential. Elevated home values (97th percentile nationally) signal a high-cost ownership market, which typically sustains reliance on multifamily housing and can bolster pricing power when managed carefully.
Property vintage matters: built in 2013, the asset is newer than the neighborhood s average 1975 construction year. That age advantage can improve competitive positioning versus older stock and may reduce near-term capital expenditure intensity, while investors should still plan for normal system updates and potential repositioning to meet evolving renter preferences.
Demographic statistics aggregated within a 3-mile radius show population and households expanding over the last five years, with further growth projected. Rising household counts and incomes point to a larger tenant base and support for occupancy stability, though rent-to-income levels in the neighborhood imply affordability pressure that merits active lease management and amenity-driven retention strategies. Average school ratings track below national norms, a consideration for family-oriented demand but less determinative for workforce renters.
Safety conditions should be evaluated as part of underwriting. Compared with neighborhoods nationwide, recent WDSuite indicators place this area in lower national percentiles for safety; however, year-over-year trends show double-digit declines in both violent and property offense rates, indicating improvement. These figures reflect neighborhood-level patterns rather than block-specific conditions, and investors commonly address on-site lighting, access control, and vendor coordination to support leasing and insurance objectives.
Within the New York Jersey City White Plains metro, the neighborhood s crime rank sits in the middle of the pack among 889 neighborhoods. Use comparative benchmarking and recent trend lines rather than single-year snapshots when sizing security budgets and reserves.
Nearby corporate offices anchor a diverse employment base that helps sustain renter demand and commute convenience, including JetBlue, AIG, Yahoo, Con Edison Distribution Engineering, and Consolidated Edison.
- JetBlue Airways — airline HQ (3.7 miles) — HQ
- AIG — insurance (3.9 miles) — HQ
- Yahoo — tech/media offices (3.9 miles)
- Con Edison Distribution Engineering — utility engineering offices (3.9 miles)
- Consolidated Edison — utility HQ (3.9 miles) — HQ
This 23-unit property at 682 Bushwick Ave benefits from a renter-centric neighborhood, strong amenity density, and a competitive occupancy backdrop. The 2013 construction is newer than the local average, which can support relative competitiveness versus older assets while keeping near-term capital needs more predictable. Elevated ownership costs in the area reinforce reliance on rentals, and household growth within a 3-mile radius points to a larger tenant base and support for steady absorption, based on CRE market data from WDSuite.
Balanced underwriting should also consider affordability pressure and neighborhood safety readings, which call for attentive lease management, targeted amenity positioning, and appropriate security planning. School quality trends below national averages may temper family-oriented demand but are often less decisive for workforce renters given commute access and job concentration across nearby employment nodes.
- Competitive neighborhood occupancy and deep renter-occupied housing base support income stability
- 2013 vintage offers a newer alternative to older local stock with manageable near-term capex
- High-cost ownership market sustains multifamily demand and pricing power when curated thoughtfully
- Expanding population and households within 3 miles increase the prospective renter pool
- Risks: affordability pressure, below-average school ratings, and safety metrics require proactive operations