| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 25th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1842 Arthur Ave, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 1914 |
| Units | 20 |
| Transaction Date | 2021-06-29 |
| Transaction Price | $10,556,487 |
| Buyer | AHC HOMES HOUSING DEVELOPMENT FUND CORPO |
| Seller | NEW YORK EQUITY FUND 2000 LIMITED PARTNE |
1842 Arthur Ave, Bronx — Urban-Core Multifamily Positioning
Workforce renter demand is deep and durable in this Bronx urban-core pocket, according to WDSuite’s CRE market data, supporting steady occupancy and leasing velocity for well-managed assets.
The property sits within an Urban Core neighborhood in the Bronx rated B and ranked 348 out of 889 metro neighborhoods, placing it competitive among New York-Jersey City-White Plains submarkets. Amenity density is a local strength — cafes, groceries, restaurants, parks, and pharmacies all register in the top national percentiles, which supports daily convenience and resident retention.
For multifamily operations, the neighborhood’s occupancy is stable near the upper half of metro peers, and renter concentration is high: roughly nine out of ten housing units are renter-occupied. For investors, that points to a large tenant base and demand depth that can buffer turnover and aid leasing. Neighborhood-level operating performance also trends favorable, with NOI per unit ranking in the mid-90s nationally, signaling strong revenue potential for competent operators.
Within a 3-mile radius, households have grown while average household size has edged down, indicating more, smaller households entering the market. That mix tends to support demand for studios and smaller floor plans — consistent with this asset’s compact average unit size — and can help sustain occupancy. While median home values are elevated for the area, ownership remains a high-cost alternative, which typically reinforces reliance on rental housing and can support pricing power for well-located properties.
School ratings in the neighborhood track below national averages, an operational consideration for family-oriented leasing strategies. Even so, the location fundamentals — dense amenities, transit access typical of the Bronx, and a predominantly renter-occupied housing stock — remain supportive for long-term multifamily property research and portfolio positioning.
Safety indicators in this Bronx neighborhood track below national norms, with crime measures placing it below the national percentiles for safety. Within the metro, the neighborhood’s crime rank sits around the middle of 889 New York–area neighborhoods, indicating conditions that are broadly similar to many urban-core districts.
Recent trend data shows year-over-year declines in both violent and property offense rates, which is a constructive signal for operators focused on tenant experience and retention. Investors typically account for these dynamics through on-site management, access control, and partnership with local community resources when underwriting.
Proximity to Midtown corporate offices underpins a broad employment base and commuter demand, supporting leasing and retention. Key nearby employers include Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and JetBlue Airways.
- Cognizant — technology services (6.2 miles)
- Cognizant Technology Solutions — technology services (6.2 miles) — HQ
- Disney ABC Television Group — media (6.7 miles)
- Loews — diversified holdings (6.8 miles) — HQ
- Jetblue Airways — airline (6.9 miles) — HQ
Built in 2000, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus mid-century buildings while still benefiting from targeted modernization to elevate finishes and systems. Neighborhood fundamentals are supportive: stable occupancy, a very high share of renter-occupied units, and amenity-rich surroundings that help with leasing velocity and renewal capture. According to CRE market data from WDSuite, neighborhood-level NOI per unit performs strongly on a national basis, suggesting room for disciplined operators to sustain revenue.
Demand signals within a 3-mile radius show more households and smaller average household sizes, expanding the renter pool for compact floor plans. Elevated ownership costs locally tend to sustain reliance on rentals, which can support occupancy stability and measured rent growth management. Key underwriting considerations include below-national safety readings and resident affordability pressure, which call for attentive lease management and value-oriented amenity strategies.
- Newer 2000 vintage versus neighborhood average, with potential to outperform older stock
- High renter-occupied share and steady neighborhood occupancy support leasing stability
- Strong neighborhood NOI per unit and dense amenities reinforce revenue durability
- Household growth and smaller household sizes within 3 miles align with compact unit demand
- Risks: below-national safety metrics and affordability pressure require proactive management