| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 50th | Fair |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2009 Cruger Ave, Bronx, NY, 10462, US |
| Region / Metro | Bronx |
| Year of Construction | 1932 |
| Units | 45 |
| Transaction Date | 2023-09-06 |
| Transaction Price | $6,200,000 |
| Buyer | 2009 CRUGER LLC |
| Seller | BRONXDALE PROPERTIES LLC |
2009 Cruger Ave, Bronx Multifamily Investment
Urban-core Bronx location with dense amenities and a deep renter base supports durable demand, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood has been steady while ownership costs remain elevated, reinforcing multifamily leasing fundamentals.
The property sits in an Urban Core pocket of the Bronx rated A- and competitive among New York–Jersey City–White Plains metro neighborhoods (top quartile among 889). Amenity density is a clear strength: groceries, restaurants, cafes, parks, and pharmacies score in the mid- to high-90s nationally, providing daily-life convenience that tends to support retention and consistent leasing.
Neighborhood renter concentration is high (renter-occupied share measured for the neighborhood is well above national norms), signaling a broad tenant pool for multifamily assets. Median neighborhood contract rents and household incomes sit above many national peers, and the rent-to-income profile indicates manageable affordability pressure for operators to monitor rather than acute risk.
Schools average roughly mid-3 out of 5 with performance above many areas nationwide, adding family-friendly appeal within an otherwise urban renter market. Home values rank high nationally alongside a value-to-income ratio near the top decile; in practical terms, this high-cost ownership market tends to sustain reliance on rental housing and can bolster lease retention.
Demographic statistics aggregated within a 3-mile radius show households have grown in recent years with smaller average household sizes. Looking ahead, forecasts point to modest population growth, a sizable increase in household counts, and continued rent growth — dynamics that typically expand the renter pool and support occupancy stability for well-positioned assets, based on commercial real estate analysis from WDSuite.
Vintage matters: with a 1991 construction year versus a neighborhood average skewing to mid-20th century stock, the asset is newer than much of the surrounding inventory. That relative youth can aid competitiveness against older walk-ups, though investors should still plan for targeted modernization of systems and interiors to meet current renter expectations.
Safety outcomes in the surrounding neighborhood trail national benchmarks, with violent and property offense rates positioned in low national percentiles. For investors, this warrants attentive property management and resident-experience strategies to support retention and leasing velocity.
Recent trend signals are mixed but improving on some measures: estimated property offenses declined meaningfully year over year, while violent offense rates were roughly flat. Monitoring multi-year directionality and comparing against metro trends is advisable for underwriting and operations planning.
Proximity to a broad Midtown corridor of corporate offices provides access to diverse employment clusters that can underpin renter demand and reduce commute times for residents. Notable nearby employers include Cognizant, JetBlue, Disney ABC, and Loews.
- Cognizant — technology services (7.46 miles)
- Cognizant Technology Solutions — technology services (7.49 miles) — HQ
- Jetblue Airways — airline (7.85 miles) — HQ
- Disney ABC Television Group — media (7.99 miles)
- Loews — diversified holdings (8.05 miles) — HQ
2009 Cruger Ave is a 45-unit, 1991-vintage asset positioned in a high-amenity Bronx neighborhood where renter-occupied housing is prevalent and ownership costs are elevated. These fundamentals, combined with neighborhood occupancy that has held in a healthy range, point to resilient demand and manageable turnover risk for professionally operated multifamily.
The asset’s vintage is newer than much of the local housing stock, offering competitive positioning versus older buildings while leaving room for targeted value-add to interiors and building systems. Within a 3-mile radius, households are projected to increase alongside further rent gains, supporting a larger tenant base and pricing power when paired with disciplined operations — trends reflected in CRE market data from WDSuite. Key considerations include neighborhood safety metrics that lag national norms and the need for ongoing affordability management to sustain retention.
- Urban-core location with top-quartile amenity access supports retention and steady leasing
- High neighborhood renter concentration and elevated ownership costs deepen the tenant pool
- 1991 construction is competitively newer than surrounding stock, with value-add modernization potential
- 3-mile household growth and projected rent gains support occupancy stability and revenue management
- Risks: neighborhood safety below national norms; operators should emphasize security, resident experience, and affordability management