| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1490 Crotona Park E, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 1931 |
| Units | 42 |
| Transaction Date | 2014-06-30 |
| Transaction Price | $2,208,800 |
| Buyer | 1490 CROTONA PARK EAST HOUSING DEVELOPMENT |
| Seller | 1490 CROTONA PARK EAST ASSOCIATES |
1490 Crotona Park E Bronx Multifamily Investment
Renter demand is deep and durable in this Urban Core pocket, where neighborhood occupancy has trended higher over five years and the renter-occupied share is elevated, according to WDSuite’s CRE market data. Ownership costs are high relative to incomes locally, which tends to sustain reliance on multifamily rentals and supports pricing power with attentive lease management.
Situated in the Bronx Urban Core with a neighborhood rating of B, the area shows healthy renter fundamentals: occupancy is above the national median and has increased over the past five years, and renter-occupied housing makes up a large share of units—indicating a broad tenant base and potential for stable lease-up and renewals.
Daily-life amenities are a strength. The neighborhood sits in the top national percentiles for grocery access, pharmacies, restaurants, parks, and childcare—factors that support resident convenience and retention. Café density is also well above average nationally, adding to street-level vibrancy that many renters value.
Construction in the immediate neighborhood skews older on average (1970), while this asset’s 1988 vintage is comparatively newer. That positioning can be competitive versus older stock while still warranting ongoing system updates and targeted modernization to meet current renter expectations and reduce near-term capital surprises.
Home values in the neighborhood are elevated compared with national norms, and the value-to-income ratio ranks among the highest nationally. In investor terms, a high-cost ownership landscape tends to reinforce renter reliance on multifamily housing, supporting demand depth and potential lease retention. At the same time, rent-to-income ratios indicate affordability pressure for some households, suggesting prudent lease management and income verification remain important.
Within a 3-mile radius, demographics show a modest population dip in recent years but an increase in total households and a trend toward smaller household sizes; forward-looking estimates point to further household growth. For investors, this suggests a larger renter pool over time even as household composition shifts, which can support occupancy stability and absorption for smaller-format units.
Schools in the area trend below national averages, which may influence unit mix performance for family-oriented layouts. Even so, strong amenity access and transit-oriented urban context remain demand drivers for workforce and convenience-seeking renters.
Safety indicators benchmark below national percentiles for both violent and property offenses, signaling a more challenging backdrop than many U.S. neighborhoods. However, recent year-over-year data show double-digit declines in estimated offense rates, indicating an improving trend line. These figures are neighborhood-level and can vary block to block; investors typically underwrite enhanced lighting, access control, and resident engagement to support onsite safety outcomes.
Compared with peer neighborhoods across the New York–Jersey City–White Plains metro, the area is not among the top quartile for safety, but the downward trajectory in estimated incidents provides some support for risk management assumptions. Monitoring updated comps and continued trend improvement remains prudent in underwriting.
Proximity to major corporate offices within roughly 6–7 miles supports a sizable commuter tenant base and can enhance leasing stability. Notable employers include Disney ABC Television Group, JetBlue Airways, Loews, Ralph Lauren, and Cognizant.
- Disney ABC Television Group — media (6.2 miles)
- Jetblue Airways — airline HQ and corporate (6.3 miles) — HQ
- Loews — diversified holding company (6.3 miles) — HQ
- Ralph Lauren — apparel & lifestyle brand (6.4 miles) — HQ
- Cognizant — technology services (6.4 miles)
This 42-unit property, built in 1988, sits in a Bronx neighborhood where renter concentration is high and occupancy has risen over the past five years. The asset’s vintage is newer than the neighborhood average, offering competitive positioning versus older housing stock while warranting targeted building system upgrades and cosmetic refreshes to capture renter preferences and manage near-term capex. According to CRE market data from WDSuite, neighborhood amenities rank strong nationally—supporting resident convenience and retention.
Household counts within a 3-mile radius have grown and are projected to expand further as household sizes trend smaller, which points to a larger renter pool over time and supports occupancy stability. Elevated home values relative to incomes reinforce reliance on rentals, although high rent-to-income ratios in the area suggest an emphasis on income screening, renewal strategies, and value-focused resident services to sustain collections and reduce turnover.
- High renter-occupied share and above-median neighborhood occupancy support stable demand.
- 1988 vintage is newer than local averages, with value-add potential through selective upgrades.
- Strong amenity access supports resident satisfaction and lease retention.
- Risks: below-average safety percentiles and affordability pressure warrant conservative underwriting and active lease management.