| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 19th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1955 Grand Concourse, Bronx, NY, 10453, US |
| Region / Metro | Bronx |
| Year of Construction | 1922 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1955 Grand Concourse, Bronx Multifamily Investment
Neighborhood occupancy has remained competitive and stable, supporting cash flow durability for professionally managed assets, according to WDSuite’s CRE market data. These metrics describe the surrounding neighborhood rather than the property itself.
Positioned in the Bronx’s Urban Core, 1955 Grand Concourse benefits from a dense amenity base. The neighborhood ranks 36th among 889 metro neighborhoods for amenity access and sits at the top end of national comparisons for groceries, pharmacies, cafes, and restaurants—an everyday convenience profile that supports renter retention and lease-up efficiency.
Neighborhood occupancy is strong and competitive among New York-Jersey City-White Plains neighborhoods (ranked 220 of 889; 82nd national percentile), indicating a deep tenant base and stable absorption. Importantly, housing units are predominantly renter-occupied (about nine in ten units at the neighborhood level), which signals consistent multifamily demand and a broad pool of prospective tenants for smaller-format units.
Home values in the surrounding area are elevated relative to national benchmarks (near the 99th percentile), creating a high-cost ownership market that generally reinforces reliance on rental housing and supports pricing power for well-located multifamily. At the same time, the neighborhood’s median contract rents have risen over the last five years, so operators should manage rent-to-income dynamics carefully to sustain renewal rates.
Demographic statistics aggregated within a 3-mile radius show households increased in recent years and are projected to expand further alongside smaller average household sizes. This combination points to a larger tenant base over time and supports occupancy stability for efficiently sized units—particularly studios and one-bedrooms consistent with the property’s average unit size profile.
The broader neighborhood’s building stock skews older (average vintage early-1950s), while the subject asset was built in 2000. That relative youth typically improves competitive positioning versus older walk-ups, though capital plans should still consider modernization to maintain advantage against newer deliveries across the metro.
Safety indicators for the neighborhood trail national benchmarks, with crime levels placing it below the metro median (crime rank 366 among 889 metro neighborhoods). Compared with neighborhoods nationwide, violent and property offense rates sit in low national percentiles; however, both categories show year-over-year declines, indicating recent improvement momentum. Investors should underwrite to local operating practices—access control, lighting, and staffing—to support resident retention while monitoring ongoing trends.
Proximity to Midtown corporate offices supports commuter convenience and a resilient renter base. Notable employers within a 5–7 mile radius include technology, media, and consumer brand headquarters and offices referenced below.
- Cognizant — technology services (5.5 miles)
- Cognizant Technology Solutions — technology services (5.6 miles) — HQ
- Disney ABC Television Group — media (6.6 miles)
- Loews — diversified holdings (6.9 miles) — HQ
- Ralph Lauren — apparel & lifestyle (6.9 miles) — HQ
This 59-unit asset, built in 2000 with efficiently sized apartments, is positioned for durable renter demand in an amenity-rich Bronx corridor. Neighborhood occupancy is competitive among metro peers and sits well above national midpoints, and the area’s high-cost ownership landscape tends to sustain reliance on rentals—positive for lease-up and renewal performance. Based on CRE market data from WDSuite, the surrounding area’s renter-occupied housing share is very high, reinforcing depth of the tenant base for smaller-format units.
Demographic statistics aggregated within a 3-mile radius point to growth in households and projections for further expansion alongside smaller household sizes, which supports a larger renter pool over time. Relative to the neighborhood’s older 1950s-era stock, a 2000 vintage can compete effectively with modest modernization, though operators should proactively manage affordability pressure (elevated rent-to-income ratios) and localized safety perceptions through resident experience and asset management.
- Competitive neighborhood occupancy and deep renter base support cash flow stability.
- Amenity-dense urban location aids leasing velocity and renewal retention.
- High-cost ownership market reinforces rental demand and pricing power potential.
- 2000 vintage offers a relative edge versus older local stock with targeted upgrades.
- Key risks: affordability pressure (rent-to-income) and below-average safety metrics requiring active management.