| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 19th | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 621 Manida St, Bronx, NY, 10474, US |
| Region / Metro | Bronx |
| Year of Construction | 1923 |
| Units | 56 |
| Transaction Date | 2024-08-01 |
| Transaction Price | $1,068,541 |
| Buyer | DCHSCU ACQUISITION HOLDINGS LLC |
| Seller | RCG TOWER GROUP I LLC |
621 Manida St, Bronx NY Multifamily Investment
Neighborhood renter demand is deep and occupancy has been stable, according to WDSuite’s CRE market data, supporting a steady leasing outlook for this Bronx asset. Position within an Urban Core setting and proximity to daily amenities underpin durable tenancy.
The property sits in a Bronx Urban Core neighborhood rated B and positioned above the metro median (ranked 402 among 889 New York–Jersey City–White Plains neighborhoods). Local livability drivers are strong for workforce renters, with dense retail and services that help sustain day-to-day convenience and resident retention.
Amenity access is a notable strength: neighborhood counts for restaurants and groceries are among the highest nationally, and parks, pharmacies, and childcare also score in the top quartile. These concentrations support walkable daily needs and reduce commute friction for errands, factors that can reinforce occupancy stability.
Housing dynamics favor multifamily demand. The share of housing units that are renter-occupied is very high within the neighborhood, indicating a deep tenant base. Neighborhood occupancy is in the low-to-mid 90s and has edged up over the past five years, which points to steady absorption and leasing resilience. Median home values are elevated for the Bronx context, and the value-to-income ratio sits high relative to national norms—conditions that typically sustain reliance on rental housing and can support pricing power for well-positioned assets.
Demographic statistics are aggregated within a 3-mile radius. Over the last five years, households increased even as average household size declined, creating a larger pool of renting households. Forecasts call for additional growth in households by 2028 alongside higher median incomes, which should expand the renter pool and help support occupancy and renewal performance. Average school ratings are lower than national medians, which may matter for family-focused unit mixes, but proximity to services and transit-oriented urban fabric remain key neighborhood drivers.
Safety trends are mixed. The neighborhood’s crime position sits in the lower half of the metro (ranked 459 out of 889), and its national standing is below the median. However, recent data show an improvement in violent offense rates year over year, suggesting some directional progress. Investors typically account for this by prioritizing on-site security practices and tenant screening to support retention.
Major employers within roughly five to six miles provide a broad white-collar employment base that supports renter demand and renewal stability, including headquarters and corporate offices such as JetBlue Airways, Loews, Ralph Lauren, Disney ABC Television Group, and Est e9e Lauder.
- Jetblue Airways — airlines (5.0 miles) — HQ
- Loews — diversified holdings (5.4 miles) — HQ
- Ralph Lauren — apparel & lifestyle (5.5 miles) — HQ
- Disney ABC Television Group — media offices (5.5 miles)
- Estee Lauder — cosmetics (5.6 miles) — HQ
Built in 2010, the asset is materially newer than the neighborhood’s mid-century housing stock. That vintage typically confers competitive positioning versus older buildings on systems, finishes, and efficiency, while leaving room for targeted upgrades as the property moves through its second decade. Neighborhood-level occupancy has remained steady in recent years and renter-occupied share is high, indicating a durable tenant base. Elevated ownership costs in the area further reinforce reliance on multifamily rentals, while dense amenities support day-to-day convenience and leasing velocity.
According to CRE market data from WDSuite, household growth within a 3-mile radius and forecasts for rising median incomes point to a larger tenant base over the next cycle, supporting occupancy stability and measured rent growth management. Key considerations include local safety comparatives and rent-to-income levels that call for attentive lease management and renewal strategies rather than aggressive short-term pricing.
- 2010 construction offers competitive positioning versus older neighborhood stock, with selective value-add potential as systems age.
- High neighborhood renter-occupied share and stable occupancy support depth of demand and renewal performance.
- Dense retail, grocery, and services underpin convenience-driven retention and steady leasing.
- Forward-looking demographics (3-mile radius) indicate more households and higher incomes, expanding the renter pool.
- Risks: below-median safety standing and rent-to-income pressures require disciplined lease management and expense planning.