| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 17th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1744 Clay Ave, Bronx, NY, 10457, US |
| Region / Metro | Bronx |
| Year of Construction | 1927 |
| Units | 43 |
| Transaction Date | 2023-05-05 |
| Transaction Price | $17,813,447 |
| Buyer | TGA GP HOLDCO LLC |
| Seller | BENNETT ROBERT |
1744 Clay Ave Bronx — 2011 Multifamily in Renter-Dense Core
Neighborhood occupancy has held in the mid‑90s and a high share of renter‑occupied units supports demand resilience, according to WDSuite’s CRE market data. Amenity density and newer 2011 construction provide a competitive position for durable leasing.
This Urban Core location offers concentrated daily conveniences: the neighborhood ranks 104 out of 889 metro neighborhoods for amenity access (competitive among New York–Jersey City–White Plains sub‑markets) and sits in the 97th percentile nationally for overall amenities. Dense retail and services are reflected in abundant groceries, pharmacies, and restaurants, supporting resident retention and day‑to‑day livability.
The property’s 2011 vintage is materially newer than the neighborhood’s average 1961 construction year. That recency can reduce near‑term capital expenditure exposure versus older stock while leaving room for targeted value‑add and systems modernization as the asset moves through its second decade.
At the neighborhood level, occupancy is around the mid‑90s with a renter‑occupied share of roughly 89%. For investors, that depth of renter base helps sustain leasing velocity and supports occupancy stability through cycles. Median contract rents are moderate for the metro, which, together with a high rent‑to‑income ratio locally, points to ongoing affordability pressure that should be considered in lease management and renewal strategies.
Within a 3‑mile radius, demographic statistics show households increased over the past five years and are projected to expand further by 2028, even as average household size trends lower. This combination generally broadens the tenant base and can lift demand for smaller units over time. School ratings in the immediate area trend toward the lower end compared with national norms; investors should weigh this against strong access to daily amenities and transit connectivity typical of the Bronx.
Safety outcomes here compare weaker than many neighborhoods nationwide, with the area sitting in a lower national safety percentile. Within the New York–Jersey City–White Plains metro, the neighborhood’s crime position is near the middle of the pack (ranked 420 out of 889), indicating conditions that are neither among the best nor worst regionally.
Recent trend data show estimated violent and property offense rates declining year over year, which is a constructive directional signal. Investors typically account for these dynamics via security enhancements, lighting, and tenant‑experience measures that support retention without overreaching on operating expenses.
Regional employment access is anchored by nearby corporate offices in technology services, media, hospitality, and apparel, supporting a broad commuter tenant base and lease retention. Notable employers include Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Ralph Lauren.
- Cognizant — technology services (5.7 miles)
- Cognizant Technology Solutions — technology services (5.7 miles) — HQ
- Disney ABC Television Group — media & entertainment (6.3 miles)
- Loews — hospitality conglomerate (6.5 miles) — HQ
- Ralph Lauren — apparel & lifestyle (6.6 miles) — HQ
1744 Clay Ave combines a renter‑dense Bronx location with a 2011 vintage that is newer than much of the surrounding housing stock. At the neighborhood level, occupancy has remained stable and amenity access ranks competitively within the metro, underpinning day‑to‑day convenience and leasing durability. Based on commercial real estate analysis from WDSuite, the local rent‑to‑income profile suggests affordability pressure; prudent renewal management and targeted concessions can help sustain retention while preserving pricing power.
Within a 3‑mile radius, households have grown and are projected to increase further by 2028 as average household size declines, expanding the renter pool for smaller formats like studios and one‑bedrooms. While safety metrics lag national benchmarks and school ratings skew lower, recent year‑over‑year declines in estimated offense rates and the property’s relative recency provide a constructive foundation for long‑term operations with selective value‑add.
- Renter‑occupied share near 89% locally supports a deep tenant base and steady leasing
- 2011 construction offers competitive positioning versus older neighborhood stock with targeted upgrade upside
- Strong amenity density and mid‑90s neighborhood occupancy reinforce retention potential
- 3‑mile household growth and smaller household sizes point to sustained demand for smaller units
- Risk: Safety metrics rank below national norms; plan for security and tenant‑experience investments