| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 27th | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 E 149th St, Bronx, NY, 10455, US |
| Region / Metro | Bronx |
| Year of Construction | 1923 |
| Units | 39 |
| Transaction Date | 2017-07-06 |
| Transaction Price | $2,417,010 |
| Buyer | SCN REALTY LLC |
| Seller | FARRAIOLI SALVATORE A |
601 E 149th St Bronx Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 1980s-vintage asset in the South Bronx.
Situated in the Urban Core of the Bronx, 601 E 149th St benefits from dense amenities and transit access that typically support leasing velocity. The neighborhood posts a high occupancy rate and ranks 90th out of 889 metro neighborhoods on this metric—top quartile in the New York–Jersey City–White Plains region—signaling historically tight availability and fewer downtime gaps between turns.
Amenity access is a local strength: grocery, pharmacy, cafes, restaurants, and parks are all abundant, with national percentiles near the top of the distribution. For investors, this tends to expand the tenant funnel and aids retention, particularly for workforce renters prioritizing walkability and services.
Renter concentration is high at the neighborhood level (share of renter-occupied housing is elevated), indicating a broad tenant base for multifamily. Within a 3-mile radius, demographics show modest recent population change but a rise in total households and a projected increase over the next several years, which points to a larger renter pool and supports occupancy stability.
Median home values in the area are elevated by national standards while incomes trend lower than many coastal submarkets. This high-cost ownership market reinforces reliance on rental housing and can support pricing power, though rent-to-income levels suggest prudent lease management to mitigate retention risk.
Built in 1982, the asset is newer than much of the local housing stock (average vintage late 1960s). That positioning can be competitively favorable versus older buildings nearby, while still warranting targeted capital planning for aging systems and value-add upgrades.
Safety outcomes are mixed in this part of the Bronx. Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank sits in the more competitive portion of the distribution (346 out of 889), yet national percentiles place the area below national averages for safety. Recent estimates indicate year-over-year declines in both violent and property offense rates, suggesting an improving trend, but investors should still underwrite with conservative assumptions and emphasize on-site security and lighting.
Proximity to major Manhattan employers supports commuter convenience and multifamily demand. Nearby anchors include Disney ABC Television Group, JetBlue Airways, Loews, Ralph Lauren, and Est e9e Lauder.
- Disney ABC Television Group — media offices (4.6 miles)
- Jetblue Airways — airline HQ & offices (4.6 miles) — HQ
- Loews — diversified holdings (4.6 miles) — HQ
- Ralph Lauren — apparel & lifestyle (4.7 miles) — HQ
- Estee Lauder — beauty & consumer goods (4.7 miles) — HQ
This 39-unit, 1982-vintage property aligns with a Bronx submarket characterized by high renter concentration and historically tight occupancy. Dense neighborhood amenities and access to Manhattan’s employment base underpin steady leasing, while an ownership market that is expensive relative to incomes helps sustain multifamily demand. According to CRE market data from WDSuite, the immediate neighborhood’s occupancy ranks among the region’s top quartile, a constructive backdrop for maintaining stabilized operations.
Investor focus should center on thoughtful capital planning—typical of 1980s assets—for systems modernization and targeted unit upgrades that can capture value without overextending affordability. Demographics within a 3-mile radius indicate a growing household count and smaller average household sizes over time, which supports a larger tenant base and sustained absorption. Balance this with rent-to-income considerations and prudent renewal strategies to protect retention.
- Tight neighborhood occupancy and deep renter base support leasing stability
- Dense amenities and proximity to major employers aid absorption and retention
- 1982 vintage offers value-add potential via focused systems and interior upgrades
- Elevated ownership costs bolster reliance on rentals, supporting pricing power
- Risk: below-average national safety benchmarks and rent-to-income pressures warrant conservative underwriting