| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 43rd | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 692 Bushwick Ave, Brooklyn, NY, 11221, US |
| Region / Metro | Brooklyn |
| Year of Construction | 2013 |
| Units | 37 |
| Transaction Date | 2012-09-13 |
| Transaction Price | $1,650,000 |
| Buyer | EASY HOLDINGS GROUP LLC |
| Seller | 39 SUYDAM STREET LLC |
692 Bushwick Ave Brooklyn Multifamily Investment Thesis
Neighborhood occupancy remains elevated and renter demand is deep, according to WDSuite’s CRE market data, supporting stable cash flow potential at this address. Metrics cited reflect the surrounding neighborhood, not this specific property.
Located in Brooklyn s Urban Core, the area around 692 Bushwick Ave rates highly for daily convenience: grocery stores, pharmacies, parks, cafes, and restaurants all rank in the top tier nationally for density, reinforcing walkability and lifestyle appeal for renters. The neighborhood s overall rating sits in the A range and is ranked 110 out of 889 metro neighborhoods, placing it above the metro median.
For investors, the key demand signals are favorable. Neighborhood occupancy is 96.6% (above national norms), and the share of renter-occupied housing units is high at 84.9%—indicating a deep tenant base and support for leasing velocity and retention. Median home values sit near the top nationally, and the value-to-income profile is also elevated, creating a high-cost ownership environment that tends to sustain multifamily demand and pricing power.
Demographic statistics aggregated within a 3-mile radius show recent population growth alongside a faster increase in households and a modest decline in average household size—trends that typically expand the renter pool and support occupancy stability. Income levels have risen meaningfully in recent years, and WDSuite s CRE market data points to continued rent growth potential in the broader area as household formation (measured as household counts) outpaces population change.
Vintage matters: the property s 2013 construction is newer than the neighborhood s average 1975 stock, offering relative competitiveness versus older buildings. Investors should still plan for normal-cycle system maintenance and potential modernization to meet today s renter preferences, but the starting point is favorable for a 2010s asset in this submarket.
Two counterweights to consider: school ratings in the neighborhood trend below national averages, which can matter for family-oriented demand, and rent-to-income levels signal some affordability pressure for certain cohorts—suggesting prudent lease management and renewal strategies. Even so, amenity density and a predominantly renter-occupied landscape remain supportive of long-term multifamily fundamentals.
Safety indicators for the surrounding neighborhood trend below national averages, based on comparative percentiles. However, WDSuite s data shows year-over-year declines in both violent and property offense rates, indicating an improving trajectory. These metrics describe neighborhood-level conditions rather than the specific block or property.
Investors typically evaluate safety in context—relative to other New York-Jersey City-White Plains, NY-NJ neighborhoods and to national benchmarks—while focusing on trend direction. Here, recent decreases in estimated incident rates provide a constructive signal, though continued monitoring remains prudent.
The location serves a broad, white-collar employment base with convenient access to corporate offices that support renter demand and retention. Key nearby employers include airlines, insurance, utilities, and technology/media operations.
- Jetblue Airways — airline HQ & corporate (3.8 miles) — HQ
- Aig — insurance (3.9 miles) — HQ
- Yahoo — technology/media (3.9 miles)
- Con Edison Distribution Engineering — utilities engineering offices (3.9 miles)
- Consolidated Edison — utilities (3.9 miles) — HQ
This 37-unit, 2013-vintage asset benefits from a predominantly renter-occupied neighborhood with strong amenity access and occupancy that sits above national norms—factors that support leasing stability and rent resilience. The newer construction offers competitive positioning versus the area s older housing stock while allowing for selective upgrades to capture modern renter preferences.
High home values and ownership costs in the neighborhood reinforce reliance on multifamily housing, sustaining depth of demand. Demographic data within a 3-mile radius indicates population growth and a faster rise in households, pointing to a larger tenant base over the medium term. According to CRE market data from WDSuite, neighborhood rents and occupancy compare favorably to broader benchmarks, while recent crime-rate declines suggest improving conditions worth continued monitoring.
- 2013 construction competes well versus older neighborhood stock, with potential for targeted value-add
- High renter concentration and elevated neighborhood occupancy support leasing stability
- Amenity-rich, walkable location enhances renter appeal and retention
- High-cost ownership market reinforces multifamily demand and pricing power
- Risks: below-average school ratings, affordability pressures, and neighborhood safety that warrants ongoing monitoring