| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1402 Bristow St, Bronx, NY, 10459, US |
| Region / Metro | Bronx |
| Year of Construction | 2001 |
| Units | 80 |
| Transaction Date | 2013-06-27 |
| Transaction Price | $4,706,236 |
| Buyer | 360 PRESERVATION LLC |
| Seller | BRISTOW STEBBINS OWNER LLC |
1402 Bristow St Bronx Multifamily with Durable Renter Base
Neighborhood occupancy and a deep renter pool point to steady demand, according to WDSuite’s CRE market data, supporting consistent leasing performance for this Bronx asset.
This Urban Core Bronx neighborhood provides everyday convenience that supports resident retention. Amenity access for groceries, pharmacies, parks, cafes, and restaurants ranks in the top quartile nationally, offering walkable daily needs and reinforcing multifamily appeal for working households.
On neighborhood-level housing metrics, occupancy is above the metro median among 889 New York–Jersey City–White Plains neighborhoods, and net operating income per unit is competitive among peer submarkets, signaling resilient renter demand rather than lease-up volatility. Construction in the surrounding area skews older, so a 2002 vintage can compete well versus nearby stock while still warranting thoughtful capital planning for aging systems over a longer hold.
Tenure patterns indicate a very high share of renter-occupied housing units in the neighborhood, suggesting a broad tenant base and depth for leasing. Within a 3-mile radius, demographics show households have been increasing and are projected to continue rising alongside smaller average household sizes, which typically expands the renter pool and supports occupancy stability.
Homeownership is a high-cost proposition locally relative to incomes, a context that tends to sustain reliance on multifamily rentals. For investors, that backdrop can aid pricing power and lease retention, while also warranting close attention to rent-to-income ratios for balanced renewals.
Safety outcomes at the neighborhood level trend below national averages, indicating higher crime rates than many U.S. neighborhoods. Within the metro context, the area performs below the median among 889 neighborhoods. Recent year-over-year data shows declines in both property and violent offense estimates, offering a modestly improving trajectory to monitor over subsequent reporting periods.
Investors typically underwrite with enhanced security measures, lighting, and community engagement in submarkets with below-average safety metrics, aligning operating plans with local conditions while tracking multi-year trends for further improvement.
Proximity to major corporate offices within roughly six miles supports commuter convenience and helps sustain renter demand. The nearby employment base spans media, airlines, hospitality, apparel, and beauty.
- Disney ABC Television Group — media (6.1 miles)
- Jetblue Airways — airline (6.1 miles) — HQ
- Loews — hospitality (6.2 miles) — HQ
- Ralph Lauren — apparel (6.2 miles) — HQ
- Estee Lauder — beauty (6.3 miles) — HQ
Built in 2002, this 80-unit property can position competitively against an older local stock while planning for systems upgrades over time. Neighborhood data points to above-metro-median occupancy and dense daily amenities, both supportive of resident retention and steady leasing. The very high renter-occupied share at the neighborhood level suggests depth of demand, while the high-cost ownership environment reinforces reliance on rentals; together these dynamics can stabilize occupancy and support rent management through cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, households have been growing and are projected to expand further as average household size trends lower, typically enlarging the renter base. Key underwriting considerations include area safety metrics that trail national norms and rent-to-income pressure in parts of the neighborhood; these can be mitigated through resident services, security enhancements, and measured renewal strategies.
- Competitive 2002 vintage versus older local stock, with clear capital planning path
- Above-metro-median neighborhood occupancy supports leasing stability
- Dense daily amenities and nearby employers bolster retention and demand
- High-cost ownership context reinforces multifamily reliance and pricing power
- Risks: below-average safety metrics and affordability pressure require active management