| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 881 E 162nd St, Bronx, NY, 10459, US |
| Region / Metro | Bronx |
| Year of Construction | 2005 |
| Units | 86 |
| Transaction Date | 2017-11-16 |
| Transaction Price | $6,437,838 |
| Buyer | ATLANTIC DEVELOPMENT GROUP INC |
| Seller | BFIM SPECIAL LIMITED PARTNER INC |
881 E 162nd St, Bronx — 86-Unit Urban Core Multifamily
Renter demand is supported by high neighborhood occupancy and a deep tenant base, according to WDSuite’s CRE market data. Newer construction for the area helps the asset compete in a renter-first submarket.
Situated in the Bronx Urban Core, the property benefits from a strong daily-needs ecosystem. Grocery and pharmacy access rank among the nation’s strongest, with restaurants and parks also testing near the top nationally. This density of amenities supports leasing convenience and reduces friction for everyday living.
Occupancy in the surrounding neighborhood sits above national medians, and the share of housing units that are renter-occupied is among the highest in the metro, signaling depth for multifamily demand. Median home values are elevated for the area, which typically sustains reliance on rentals and can support pricing power, while requiring disciplined lease management where rent-to-income pressure is present.
The average school rating in the neighborhood trails national medians, which may matter for family-oriented units; however, childcare availability is comparatively strong. For context, demographic statistics referenced here are aggregated within a 3-mile radius, where households have been expanding and are projected to continue growing, implying a larger tenant base over the medium term.
Built in 2005 versus an area average vintage around the 1970s, the asset is newer than much of the local stock. That typically improves competitive positioning versus older properties, while still warranting ongoing system updates and selective renovations to drive rent and retention.
Safety indicators for the neighborhood trend below national averages and should be underwritten with care. That said, both violent and property offense estimates have moved lower over the past year, a constructive directional signal investors may monitor alongside local initiatives and building-level security measures.
Comparisons are based on neighborhood-level data within the New York–Jersey City–White Plains metro’s 889 tracked neighborhoods and national percentiles; investors should focus on trend direction and property-specific controls rather than block-level assumptions.
Large employers within commuting range provide a diversified white-collar employment base that supports renter demand and retention, including airlines, media, hospitality, apparel, and beauty headquarters and offices listed below.
- JetBlue Airways — airlines (5.3 miles) — HQ
- Disney ABC Television Group — media (5.4 miles)
- Loews — hospitality (5.4 miles) — HQ
- Ralph Lauren — apparel (5.5 miles) — HQ
- Estée Lauder — beauty (5.5 miles) — HQ
The investment case centers on durable renter demand in a high-renter neighborhood, amenity-rich location, and a 2005 vintage that is newer than much of the Bronx housing stock. Elevated ownership costs in the area tend to reinforce reliance on rentals, supporting occupancy stability and pricing power with prudent income screening and renewal strategies.
Based on CRE market data from WDSuite, neighborhood occupancy trends remain healthy versus national medians, while a very high share of renter-occupied housing indicates a deep tenant base. Investors should underwrite affordability pressure and local safety perceptions as manageable risks, balanced by proximity to major employment nodes and the property’s competitive positioning against older assets.
- High renter concentration and above-median neighborhood occupancy support demand and lease retention
- 2005 construction offers competitive positioning versus older local stock with targeted value-add potential
- Amenity-dense Urban Core location and access to major employers bolster leasing fundamentals
- Risks: affordability pressure (rent-to-income) and below-average neighborhood safety require careful underwriting and tenant management