| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 42nd | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Hudson Ave, Albany, NY, 12203, US |
| Region / Metro | Albany |
| Year of Construction | 1972 |
| Units | 105 |
| Transaction Date | 2014-11-14 |
| Transaction Price | $5,405,000 |
| Buyer | TMG NY ALBANY I L P |
| Seller | GIDEON LODGE 140 B NAI B RITH HOUSING DE |
400 Hudson Ave, Albany NY Multifamily Investment
In an Urban Core setting with a large renter base and dense amenities, the property aligns with steady tenant demand, according to WDSuite’s CRE market data. Investors should balance demand depth with active lease management given neighborhood occupancy trends.
This Urban Core neighborhood scores A- overall and is competitive among Albany-Schenectady-Troy neighborhoods (rank 61 of 295), supported by strong retail and daily-needs access. Dining and grocery density rank near the top of the metro (restaurants rank 4 of 295; groceries rank 2 of 295) and sit in the high 90s nationally, which helps sustain foot traffic and convenience for residents.
Renter concentration is a defining feature: 74.6% of housing units are renter-occupied (rank 4 of 295; 98th percentile nationally). For multifamily investors, this indicates a deep tenant base and ongoing leasing demand. However, the neighborhood’s occupied housing share is below the metro median (occupancy rank 234 of 295; 25th percentile nationally), suggesting that hands-on marketing and renewal strategies may be needed to maintain stability.
Home values sit below national norms (31st percentile), while the value-to-income ratio is elevated (76th percentile). In practice, a high-cost ownership market relative to local incomes can reinforce reliance on rentals, supporting tenant retention; at the same time, a high rent-to-income ratio (very low national percentile) points to affordability pressure that may warrant measured rent setting and proactive lease management. Average schools score low locally (rank 102 of 295; 15th percentile nationally), which can influence tenant mix but does not negate the area’s amenity appeal.
Within a 3-mile radius, demographics show modest recent population growth and rising household counts, with WDSuite data indicating further increases in households over the next five years. This trajectory implies a larger tenant base and supports occupancy over time. The property’s 1972 vintage is newer than much of the neighborhood’s older housing stock (average year 1905; rank 272 of 295), positioning it competitively versus pre-war assets while leaving room for targeted modernization that can capture value relative to nearby older buildings. For investors conducting multifamily property research, the neighborhood’s NOI per unit performance is strong versus the metro (rank 8 of 295; 83rd percentile nationally), underscoring achievable operations for well-managed assets.
Safety indicators are mixed and should be evaluated in context. Compared with Albany-Schenectady-Troy neighborhoods, overall crime sits below the metro median (rank 69 of 295). Nationally, the area falls in the lower third for overall safety (33rd percentile), while property offenses trend comparatively better (66th percentile). Violent offense levels sit around the middle of national comparisons (41st percentile).
Year-over-year movements have been volatile, with a sharp increase in estimated property offense rates recently. For investors, this argues for standard security measures, careful underwriting of operating expenses, and attention to tenant experience, rather than assumptions of block-level conditions. Trends should be monitored alongside management practices and local initiatives.
Nearby employers provide a stable white-collar employment base that supports renter demand and commute convenience, including technology and professional services present in the immediate area.
- IBM — technology & services (1.4 miles)
400 Hudson Ave combines a deep renter pool and amenity-dense Urban Core location with operational upside. Based on CRE market data from WDSuite, the neighborhood posts strong NOI per unit relative to the metro and a very high share of renter-occupied housing, indicating durable tenant demand. Softer neighborhood occupancy suggests value for active operators who can drive leasing, renewals, and resident experience.
Built in 1972, the 105-unit asset is newer than much of the surrounding housing stock, allowing it to compete effectively against older buildings while offering potential value-add via targeted modernization and systems updates. Within a 3-mile radius, households have been increasing and are projected to grow further, expanding the renter base. Elevated ownership costs relative to local incomes and dense daily conveniences support retention and pricing power, balanced against rent-to-income pressures that call for measured rent strategies.
- Deep renter base (74.6% renter-occupied locally) supports leasing velocity and renewals.
- Amenity-rich Urban Core with top-tier dining and grocery density aids resident retention.
- 1972 vintage is competitive versus older stock and offers value-add through modernization.
- Strong neighborhood NOI per unit versus metro benchmarks implies achievable operations for capable managers.
- Risks: below-median neighborhood occupancy, affordability pressure (high rent-to-income), and mixed safety trends require proactive management.