| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1735 Townsend Ave, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1927 |
| Units | 53 |
| Transaction Date | 2018-02-23 |
| Transaction Price | $3,922,510 |
| Buyer | MOUNT HOPE PRESERVATION APARTMENTS 1A HO |
| Seller | TOWNSEND AVENUE ENTERPRISES LIMITED PART |
1735 Townsend Ave, Bronx — Multifamily Demand in an Urban Core
Neighborhood fundamentals point to deep renter demand and high occupancy in this part of the Bronx, according to WDSuite’s CRE market data. The area’s renter concentration supports leasing stability for a professionally managed asset at this address.
Neighborhood dynamics and renter demand
Set within the Bronx Urban Core, this location benefits from very high renter concentration at the neighborhood level, which indicates a large tenant base and supports occupancy stability. Neighborhood occupancy is strong and has trended up over the last five years, a favorable backdrop for renewal velocity and pricing discipline.
Daily needs are well covered: the neighborhood sits in the top national percentiles for grocery access, parks, and pharmacies, with dense restaurant and cafe options. These amenities improve resident convenience and can aid retention relative to other New York-Jersey City-White Plains subareas. Average school ratings in the neighborhood are lower versus national norms, which is worth noting for family-oriented tenant profiles, but proximity to services and transit alternatives typically anchors workforce-oriented demand.
Housing and income trends suggest investors should plan for thoughtful lease management. Median household incomes in the neighborhood are below national medians, and the rent-to-income ratio is elevated, which can create affordability pressure; at the same time, neighborhood home values are high for the metro, signaling a high-cost ownership market that tends to reinforce reliance on rental housing and support longer renter tenures.
Within a 3-mile radius, population has been essentially flat in recent years while the number of households has increased, indicating smaller household sizes and a gradual expansion of the renter pool. Forward-looking projections show modest population growth and a continued increase in households, which supports multifamily demand. This summary is based on commercial real estate analysis from WDSuite’s dataset.
Safety context
Compared with neighborhoods nationwide, this area sits in lower safety percentiles, indicating higher reported incident rates than the national average. Within the New York-Jersey City-White Plains metro, it is not among the top quartile for safety, so investors should underwrite active property management and security measures appropriate for an urban environment.
Recent trend data shows one-year declines in both violent and property offense estimates at the neighborhood level, suggesting gradual improvement. As always, conditions vary block to block; investors typically validate on-the-ground patterns, transit nodes, and frontage exposure when assessing risk and mitigation costs.
Nearby employers supporting renter demand
A broad Midtown/Upper Manhattan corporate base provides diversified employment within commuting distance, supporting workforce renter demand and lease retention. Notable nearby employers include Cognizant, Cognizant Technology Solutions, 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 & entertainment (6.2 miles)
- Loews — hospitality & diversified holdings (6.5 miles) — HQ
- Ralph Lauren — apparel & retail (6.5 miles) — HQ
Investment thesis
Built in 1990, the property is newer than much of the surrounding housing stock, offering relative competitiveness versus older buildings while still warranting selective modernization for long-term durability. The neighborhood’s very high share of renter-occupied units and historically strong occupancy support leasing stability and reduce downtime risk, especially for efficient unit mixes.
Home values in the neighborhood are elevated relative to national norms, reinforcing renter reliance on multifamily housing and helping sustain demand depth near 1735 Townsend Ave. Within a 3-mile radius, households have increased and are projected to grow further, pointing to a larger tenant base over time; based on multifamily property research from WDSuite, this should support occupancy and renewal performance, provided operators manage affordability pressure through prudent rent setting and resident retention programs.
- Newer 1990 vintage versus older neighborhood stock; potential to out-compete with targeted modernization
- High neighborhood renter concentration and strong occupancy underpin demand stability
- Elevated ownership costs locally reinforce multifamily demand and lease retention
- Expanding household counts within 3 miles indicate a growing renter pool over time
- Risks: below-average safety metrics and higher rent-to-income ratios warrant conservative underwriting and proactive management