| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 19th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1291 Lafayette Ave, Bronx, NY, 10474, US |
| Region / Metro | Bronx |
| Year of Construction | 1989 |
| Units | 93 |
| Transaction Date | 2014-12-30 |
| Transaction Price | $12,950,000 |
| Buyer | PIO/VIP HOUSNG DEVELOPMENT FUND CORPORAT |
| Seller | PIO MENDEZ HOUSING DEVELOPMENT FUND COMP |
1291 Lafayette Ave Bronx Multifamily Opportunity
Neighborhood occupancy is steady and renter demand is deep in this urban-Bronx location, according to WDSuite’s CRE market data, supporting consistent lease-up for professionally managed assets.
The property sits in an Urban Core neighborhood that rates above the metro median (ranked 402 out of 889 New York–Jersey City–White Plains neighborhoods). Amenity access stands out: restaurants, groceries, parks, and pharmacies benchmark in the high national percentiles, which helps sustain day-to-day convenience for residents and supports retention.
Renter concentration is very high at the neighborhood level, indicating a large base of renter-occupied housing units and a deep tenant pool for multifamily operators. Neighborhood occupancy has held in the low-to-mid 90s in recent years, which supports leasing stability through cycles. Median contract rents sit around the middle of national distributions, while value-to-income metrics indicate a high-cost ownership market that tends to reinforce reliance on rental housing.
Construction vintage is materially older across the surrounding housing stock (average year 1951). Built in 1989, the subject property is newer than much of the competitive set, which can provide a relative edge on systems and finishes; however, investors should still plan for targeted modernization to keep pace with today’s renter expectations.
Within a 3-mile radius, demographics show households have increased over the past five years even as average household size edged lower. Looking ahead to 2028, WDSuite’s CRE market data indicates further growth in households and incomes with smaller household sizes, a combination that typically expands the renter pool and supports occupancy stability for well-located multifamily assets.
Safety metrics in this neighborhood trail national averages, with neighborhood crime ranking in the lower tiers locally and national percentiles indicating elevated incident rates compared to many U.S. neighborhoods. That said, recent year-over-year trends show improvement in violent offense rates, suggesting conditions have been moving in a more favorable direction. Investors should incorporate prudent security, lighting, and access-control measures into operating plans and underwrite accordingly.
Proximity to major corporate offices in Manhattan supports commuter demand and leasing durability for workforce-oriented units. Key employers within a roughly 6-mile radius include JetBlue Airways, Loews, Disney ABC Television Group, Ralph Lauren, and Estée Lauder.
- JetBlue Airways — airline HQ (5.3 miles) — HQ
- Loews — diversified holdings HQ (5.7 miles) — HQ
- Disney ABC Television Group — media offices (5.7 miles)
- Ralph Lauren — apparel HQ (5.7 miles) — HQ
- Estee Lauder — beauty & cosmetics HQ (5.8 miles) — HQ
1291 Lafayette Ave offers 93 units in a renter-heavy Bronx submarket where neighborhood occupancy trends have remained stable and daily amenities are abundant. Built in 1989, the asset is newer than much of the surrounding housing stock, positioning it competitively versus older properties while leaving room for targeted value-add to enhance rents and retention. According to CRE market data from WDSuite, the local ownership market is high-cost relative to incomes, which typically sustains multifamily demand and supports pricing power when paired with effective lease management.
Within a 3-mile radius, households have grown and are projected to expand further through 2028 even as household sizes decline, a pattern that generally increases the number of renters entering the market. Strong access to regional employment nodes within a short commute further underpins demand for well-managed workforce units, though investors should underwrite prudent expense reserves and thoughtful security measures given area safety benchmarks and rent-to-income pressures.
- Renter-heavy neighborhood and steady occupancy support leasing stability
- 1989 vintage is newer than nearby stock, with value-add potential
- High-cost ownership context reinforces reliance on rental housing
- Household growth in 3-mile radius expands the tenant base through 2028
- Risks: safety metrics below national averages and affordability pressure require disciplined operations