| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 23rd | Poor |
| Amenities | 67th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1415 Wythe Pl, Bronx, NY, 10452, US |
| Region / Metro | Bronx |
| Year of Construction | 1924 |
| Units | 60 |
| Transaction Date | 2019-06-26 |
| Transaction Price | $9,737,500 |
| Buyer | 1415 WYTHE HOUSING DEVELOPMENT FUND CORP |
| Seller | ADAMA HOLDINGS LLC |
1415 Wythe Pl Bronx Multifamily With Durable Renter Base
Neighborhood data points to high occupancy and a deep renter pool, according to WDSuite’s CRE market data. Built in 1991, the asset skews newer than much of the Bronx housing stock, supporting competitive positioning.
Located in the Bronx Urban Core, the neighborhood shows strong utilization of existing apartments with occupancy near the top quartile among 889 New York–Jersey City–White Plains neighborhoods, supporting income stability for professionally managed assets. Renter-occupied housing is the dominant tenure, indicating a large tenant base that can underpin leasing velocity and renewal depth.
Daily-needs access is a clear strength: grocery and pharmacy density score in the top percentiles nationally, and restaurants and cafes are plentiful for an urban workforce renter profile (based on CRE market data from WDSuite). Park access is more limited immediately nearby, which may modestly influence appeal for outdoor-oriented households.
Within a 3‑mile radius, household counts have expanded in recent years and are projected to continue rising, even as average household size trends smaller. This dynamic typically broadens the renter pool and supports occupancy stability for smaller floorplans. Median home values rank well above the national midpoint, reflecting a high‑cost ownership market that tends to sustain reliance on multifamily rentals and bolster pricing power for well-operated properties.
School ratings in the area trend below national averages, which can affect the mix of family-oriented demand. Vintage-wise, 1991 construction is newer than the neighborhood average (1950s era), offering relative competitiveness versus older stock, though investors should underwrite for modernization of building systems and common areas typical for assets of this age.
Safety conditions trend below national averages for comparable urban neighborhoods, and rank indicators within the New York metro suggest higher-than-typical incident levels for the area. That said, recent year-over-year trends point to improvement, with violent offenses and property offenses both declining, according to WDSuite’s CRE market data.
Investors should account for neighborhood perception and continue monitoring multi-year trajectories rather than single-year snapshots. Positioning with enhanced on-site lighting, access control, and resident engagement can help mitigate risk and support retention.
Proximity to major Manhattan corporate offices within roughly 5–6 miles supports a steady commuter renter base and helps retention for workforce-oriented units. Notable employers nearby include Cognizant, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — technology services (5.3 miles)
- Cognizant Technology Solutions — technology services (5.3 miles) — HQ
- Disney ABC Television Group — media (5.7 miles)
- Loews — diversified holdings (6.0 miles) — HQ
- Ralph Lauren — apparel & lifestyle (6.0 miles) — HQ
1415 Wythe Pl benefits from a dense urban renter ecosystem: neighborhood occupancy sits in the metro’s upper tier and renter concentration is exceptionally high, supporting a deep tenant base and stable leasing. Amenity access for daily needs is a relative strength, while elevated ownership costs in the Bronx context tend to keep households in rental housing longer, aiding renewal outcomes. Built in 1991, the property is newer than much of the local stock, offering competitive positioning with potential value-add through targeted system upgrades and contemporary finishes.
Within a 3‑mile radius, recent growth in households and a projected increase in population point to a larger tenant base over the medium term. At the same time, rent-to-income metrics indicate affordability pressure for many renters, which argues for disciplined lease management and a focus on resident retention. According to CRE market data from WDSuite, safety trends show recent improvement but remain below national benchmarks—an underwriting consideration that can be addressed with property-level measures and community partnerships.
- High neighborhood occupancy and deep renter base support income durability
- 1991 vintage offers competitive edge versus older Bronx stock with value‑add potential
- Strong daily‑needs amenity access and proximity to major employers aid retention
- Household growth within 3 miles expands the tenant pool and supports leasing
- Risks: affordability pressure, below‑average safety metrics, and limited park access