| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 950 Jennings St, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 1998 |
| Units | 84 |
| Transaction Date | 2024-05-08 |
| Transaction Price | $7,996,282 |
| Buyer | HAT PARTNERS LLC |
| Seller | CROTONA AVENUE ASSOCIATES LP |
950 Jennings St Bronx 84-Unit Multifamily Investment
Neighborhood occupancy trends point to stable renter demand and leasing durability, according to WDSuite’s CRE market data. Newer vintage for the area supports competitive positioning while maintaining focus on steady operations rather than speculative upside.
Situated in the Bronx Urban Core, the neighborhood is rated B and ranks above the metro median among 889 New York–Jersey City–White Plains neighborhoods, signaling balanced fundamentals for multifamily investors. Amenity access is a clear strength, with high concentrations of grocery, pharmacy, parks, and restaurants placing the area in the top quartile nationally for day-to-day convenience—an advantage for retention and leasing.
Renter concentration is high, with a large share of housing units renter-occupied at the neighborhood level, indicating depth in the tenant base and support for occupancy stability. Neighborhood occupancy has trended higher over the past five years and sits above national benchmarks, reinforcing steady cash flow potential rather than heavy lease-up risk.
The property’s 1999 construction is newer than the neighborhood’s older housing stock (average vintage 1970). That relative youth can reduce near-term capital exposure versus pre-war buildings and supports competitive standing; investors should still plan for targeted modernization and system updates typical for late-1990s assets.
Within a 3-mile radius, demographics show a large population base and an increase in households alongside smaller average household sizes. This points to a gradually expanding renter pool and diversification of unit demand profiles—factors that can underpin occupancy and renewal performance. Median home values in the neighborhood are elevated in a regional context, which tends to sustain reliance on rental housing and can support pricing power, while the rent-to-income environment suggests prudent lease management to balance affordability pressure with retention objectives.
Neighborhood safety indicators are weaker than national averages, but recent year-over-year trends show improvement, with both violent and property offense rates declining. For context, these statistics are neighborhood-level—not property-specific—and should be underwritten with appropriate security measures and resident-experience policies typical for Urban Core assets.
Compared with peer areas across the region, the neighborhood sits below the metro midpoint on safety. The downward trend in estimated offense rates over the last year provides a constructive signal, yet investors should budget for on-site lighting, access control, and community engagement to support resident satisfaction and retention.
Proximity to major Manhattan employment nodes broadens the commuter renter base and supports leasing durability. Key nearby employers include JetBlue Airways, Disney ABC Television Group, Loews, Ralph Lauren, and Estée Lauder.
- JetBlue Airways — airlines (6.2 miles) — HQ
- Disney ABC Television Group — media (6.2 miles)
- Loews — hospitality (6.3 miles) — HQ
- Ralph Lauren — apparel (6.4 miles) — HQ
- Estée Lauder — cosmetics (6.4 miles) — HQ
950 Jennings St offers an 84-unit, late-1990s multifamily asset positioned within a heavily renter-occupied Bronx neighborhood where occupancy levels have been resilient and above national benchmarks. Elevated ownership costs in the area continue to reinforce rental housing reliance, supporting a broad tenant base and steady renewal potential.
The 1999 vintage compares favorably to the neighborhood’s older stock, providing relative competitiveness with measured capital needs. Within a 3-mile radius, household counts are rising even as household sizes trend smaller—an indicator of renter pool expansion that can support occupancy stability and absorption. According to CRE market data from WDSuite, neighborhood amenity access is strong in national context, adding to day-to-day livability and aiding retention.
- High renter-occupied share and above-national occupancy support durable leasing
- 1999 vintage is newer than local stock, moderating near-term capital needs with targeted modernization potential
- Strong amenity access and large commuter base aid retention and absorption
- Risks: affordability pressure and below-metro safety warrant conservative underwriting and active asset management