| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 28th | Poor |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 299 E 162nd St, Bronx, NY, 10451, US |
| Region / Metro | Bronx |
| Year of Construction | 1910 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
299 E 162nd St, Bronx — Multifamily with Deep Renter Demand
Neighborhood occupancy is strong and renter concentration is high, supporting stable leasing conditions for this asset, according to WDSuite’s CRE market data. These indicators reflect neighborhood-level dynamics rather than the property itself.
Located in the Bronx Urban Core, the surrounding neighborhood rates a solid B and sits above the metro median (ranked 378 out of 889 metro neighborhoods). Amenity density is a clear strength: grocery, pharmacy, parks, cafés, and restaurants all register in the top percentiles nationally, translating into daily convenience and walkable appeal that helps sustain renter interest.
Neighborhood occupancy is high (top decile nationally), and the share of housing units that are renter-occupied is among the highest in the country. For investors, this points to a deep tenant base and historically resilient absorption for multifamily, even as specific property performance will depend on execution and price positioning.
Within a 3-mile radius, households have increased in recent years while overall population edged slightly lower, indicating smaller household sizes and a broader pool of potential renters. Forecasts point to growth in both households and incomes over the next five years, expanding the potential renter pool and supporting occupancy stability. Median contract rents benchmark near mid-tier levels nationally, with steady multi-year gains that align with sustained demand.
The building’s 2000 vintage is newer than the neighborhood’s older housing stock (average year 1971). That relative youth can be competitively advantageous versus pre-1980 product, though investors should still plan for system updates and potential modernization to capture rent premiums and maintain positioning.
School ratings in the area trend below national averages, which may influence demand dynamics for larger family-oriented units. Home values in the neighborhood are comparatively lower on a national scale; in investor terms, this can introduce some competition from ownership at certain price points, but the area’s high renter concentration continues to underpin multifamily demand.
Safety indicators are mixed and should be weighed thoughtfully. At the metro level, the neighborhood’s crime rank sits slightly below the median (475 out of 889), and nationally it falls in lower percentiles for safety. Year over year, violent offense estimates have improved, while property offenses show an uptick—together suggesting ongoing risk management needs alongside recent progress.
Investors typically mitigate these conditions through targeted security measures, resident engagement, and lighting/camera upgrades. It’s prudent to benchmark incident trends and management costs against comparable Bronx assets and broader New York-Jersey City-White Plains submarkets when underwriting.
Proximity to Manhattan’s Midtown employment core supports commuter convenience and leasing depth, with nearby corporate offices across media, consumer, and financial services.
- Disney ABC Television Group — media (4.9 miles)
- Loews — diversified holdings (5.1 miles) — HQ
- Estee Lauder — consumer products (5.2 miles) — HQ
- Icahn Enterprises — diversified holdings (5.2 miles) — HQ
- Ralph Lauren — apparel (5.2 miles) — HQ
299 E 162nd St benefits from a renter-driven Bronx location with high neighborhood occupancy and exceptional amenity access that reinforces day-to-day livability and lease retention. Based on CRE market data from WDSuite, the surrounding neighborhood’s occupancy outperforms most U.S. areas, and the renter-occupied share is among the highest nationally—key signals for demand depth and absorption for a 21-unit asset.
Constructed in 2000, the property is newer than much of the local housing stock, providing a competitive edge versus older buildings while still presenting scope for capital upgrades to systems and interiors to support rent positioning. Household growth within a 3-mile radius and projected income gains indicate a larger tenant base ahead, though underwriting should account for affordability pressure (high rent-to-income at the neighborhood level), safety-related operating needs, and potential competition from more accessible ownership options in parts of the Bronx.
- Deep renter base and high neighborhood occupancy support leasing stability
- 2000 vintage offers competitive positioning versus older stock with value-add upside
- Dense amenities and access to Midtown employers bolster demand and retention
- Demographic trends within 3 miles point to a growing tenant pool over time
- Risks: safety metrics, affordability pressure (rent-to-income), and some ownership competition