| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 50th | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2860 Buhre Ave, Bronx, NY, 10461, US |
| Region / Metro | Bronx |
| Year of Construction | 1928 |
| Units | 102 |
| Transaction Date | 1997-05-06 |
| Transaction Price | $2,650,000 |
| Buyer | BUHRE REALTY CORP |
| Seller | 2860 BUHRE REALTY CORP |
2860 Buhre Ave, Bronx Multifamily Investment Thesis
Neighborhood renter concentration is high and amenity access is strong, supporting steady demand, according to WDSuite’s CRE market data. This location’s Urban Core profile points to durable occupancy at the neighborhood level, with pricing set against a high-cost ownership market.
The property sits in an Urban Core area of the Bronx that ranks 189 out of 889 metro neighborhoods (A- rating), placing it in the top quartile among New York–Jersey City–White Plains neighborhoods. For investors, that reflects solid livability and established demand drivers rather than emerging, untested dynamics.
Amenity coverage is a clear strength: neighborhood metrics are nationally high for restaurants, groceries, pharmacies, and childcare, reinforcing day-to-day convenience that supports tenant retention. Average school ratings are modest but slightly above national norms, offering a balanced family appeal without being a primary draw.
On housing fundamentals, the neighborhood’s occupancy is above national median levels, which supports income stability over the cycle. The share of renter-occupied housing units is elevated (neighborhood statistic), indicating a deep tenant base for multifamily operators. Median home values are high for the area (neighborhood statistic), which tends to sustain apartment demand as ownership costs remain elevated.
Within a 3-mile radius, recent data show a slight decline in population alongside an increase in total households, with forecasts pointing to further household growth and smaller average household sizes. For multifamily owners, that combination implies a broader renter pool and diversified demand. Contract rents in the 3-mile radius have risen historically and are projected to continue increasing, while rent-to-income at the neighborhood level suggests some affordability pressure that warrants active lease management.
The property’s 1983 construction is newer than the neighborhood’s older-average housing stock. That relative vintage can be competitively advantageous versus mid-century assets, though investors should still plan for system updates and targeted modernization to sharpen positioning.
Safety conditions should be underwritten carefully. The neighborhood’s safety ranking sits in the lower half of the metro (rank 482 out of 889), and national comparisons indicate below-average safety relative to neighborhoods nationwide. Recent year-over-year estimates point to increases in both violent and property offenses, suggesting operators should budget for security measures and emphasize resident safety communications.
For investors, the takeaway is comparative rather than block-specific: underwriting should incorporate prudent assumptions for insurance, security, and turnover, and weigh these against the area’s renter demand depth and amenity strengths.
Proximity to major Manhattan and Queens employers supports commute convenience and a broad renter base. Notable nearby employment nodes include airline, hospitality, IT services, media, and apparel headquarters and offices listed below.
- Jetblue Airways — airline (8.6 miles) — HQ
- Loews — hospitality (9.2 miles) — HQ
- Cognizant — IT services (9.2 miles)
- Disney ABC Television Group — media (9.2 miles)
- Ralph Lauren — apparel (9.2 miles) — HQ
2860 Buhre Ave is a 1983-vintage, institutional-scale multifamily asset in a top-quartile Bronx neighborhood by metro ranking. The area’s high share of renter-occupied housing units (neighborhood statistic) and above-median occupancy support income durability, while elevated ownership costs in the neighborhood sustain reliance on rentals. According to CRE market data from WDSuite, amenity density is strong, which helps leasing and retention relative to many urban submarkets nationally.
Forward-looking fundamentals are constructive: within a 3-mile radius, household counts are rising even as average household size trends lower, broadening the renter pool. Neighborhood rent-to-income levels indicate some affordability pressure, suggesting the opportunity to pair value-add renovations with disciplined rent setting and resident retention programs. The 1983 vintage is newer than much of the surrounding housing stock, offering a competitive baseline with potential upside from system updates and unit modernization.
- Top-quartile neighborhood rank in the metro, signaling durable demand drivers
- High neighborhood renter-occupied share and above-median occupancy support cash flow stability
- Strong amenity density and commute access underpin leasing and retention
- 1983 vintage offers relative competitive edge with value-add modernization potential
- Risks: below-average safety in national context and affordability pressure require prudent underwriting