| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 67th | Good |
| Amenities | 75th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6425 Broadway, Bronx, NY, 10471, US |
| Region / Metro | Bronx |
| Year of Construction | 1974 |
| Units | 57 |
| Transaction Date | 2014-08-12 |
| Transaction Price | $11,000,000 |
| Buyer | PRISMA REALTY LLC |
| Seller | PAE SURREY LLC |
6425 Broadway Bronx Multifamily — Stabilized Urban Core Position
Neighborhood occupancy is around 97% and has strengthened over five years, supporting income stability at this address according to WDSuite’s CRE market data; these rates reflect the surrounding neighborhood, not the property.
Positioned in the Urban Core of the Bronx, the surrounding neighborhood is rated A- and ranks 182 out of 889 metro neighborhoods (top quartile). The area shows high neighborhood occupancy (about 97%), with above metro median standing and a national percentile in the mid-80s, indicating durable renter demand rather than property-specific performance, based on CRE market data from WDSuite.
Livability factors are strong for daily needs: parks density sits near the top nationally (roughly 99th percentile), and access to groceries, pharmacies, and childcare ranks well above average (upper-70s to low-90s percentiles). Restaurant density is also competitive (mid-90s percentile), even as the immediate cafe count is thinner; together, these amenities support leasing and retention by giving residents convenient options close by.
Within a 3-mile radius, households have grown by about 7% over five years while population was roughly flat, pointing to smaller household sizes and a broader renter pool. Looking ahead to 2028, the same 3-mile area is projected for high single-digit population growth alongside a sizable increase in households, which generally expands the tenant base and supports occupancy stability.
Ownership remains a high-cost proposition locally (neighborhood median home values sit in the upper-80s national percentile). This high-cost ownership market tends to sustain reliance on rentals, supporting lease retention and pricing power for well-run assets. Neighborhood median contract rents and incomes are both above national norms, with a rent-to-income ratio around 0.18, suggesting manageable affordability pressure that can aid renewals and reduce turnover risk.
The property’s 1974 vintage is newer than the neighborhood’s average construction year (1961). That relative youth can enhance competitive positioning versus older stock, though investors should still plan for ongoing system updates or targeted renovations to keep the asset aligned with renter expectations.
Safety indicators are mixed. The neighborhood’s crime rank is 214 out of 889 metro neighborhoods, which is below the metro average for safety, and national safety percentiles trend below the median. At the same time, recent year-over-year trends show improvement, with both violent and property offense rates declining; these are neighborhood-level signals and not property-specific.
In practical terms, investors should weigh the improving trajectory against the still-elevated baseline relative to national norms. Monitoring local trends and standard on-site measures can help sustain leasing performance and resident satisfaction without relying on block-level conclusions.
Major employment nodes within commuting range include IT services and media headquarters that support a steady professional tenant base: Cognizant, Cognizant Technology Solutions, Disney ABC Television Group, Loews, and Time Warner.
- Cognizant — IT services (6.1 miles)
- Cognizant Technology Solutions — IT services (6.1 miles) — HQ
- Disney ABC Television Group — media & entertainment (10.0 miles)
- Loews — diversified holdings (10.3 miles) — HQ
- Time Warner — media & entertainment (10.4 miles) — HQ
6425 Broadway offers 57 units in a neighborhood that is competitive among New York–Jersey City–White Plains submarkets, with neighborhood occupancy near 97% and an A- neighborhood rating. Elevated neighborhood home values and above-average incomes reinforce reliance on rentals, supporting pricing power and lease retention for well-managed assets. According to commercial real estate analysis from WDSuite, neighborhood NOI per unit trends in the upper tier nationally, aligning with the area’s income profile and sustained renter demand.
Constructed in 1974, the asset is newer than the neighborhood’s average vintage, providing relative competitiveness versus older stock while still warranting continued capital planning for building systems and targeted upgrades. Within a 3-mile radius, projected growth in households through 2028 points to a larger tenant base and supports occupancy stability over the hold.
- Neighborhood occupancy around 97% supports stable collections and limits downtime (neighborhood-level metric).
- High-cost ownership context sustains renter reliance, aiding retention and measured pricing power.
- 1974 vintage is newer than local average, with potential to outperform older stock after targeted updates.
- 3-mile household growth outlook expands the renter pool, supporting long-run occupancy.
- Risks: safety metrics remain below national median despite improving trends; aging systems require ongoing capex discipline.