| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1441 Boston Rd, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 1990 |
| Units | 92 |
| Transaction Date | 2011-04-28 |
| Transaction Price | $9,600,000 |
| Buyer | MBP HDFC AS NOMINEE FOR MID-BRONX PLAZA |
| Seller | MID-BRONX PLAZA HDFC INC |
1441 Boston Rd Bronx Multifamily — 2010 Urban Core Asset
Neighborhood occupancy remains resilient and renter demand is deep in this Urban Core pocket of the Bronx, according to WDSuite’s CRE market data. Positioning a 2010-vintage asset here targets stable leasing supported by a predominantly renter-occupied housing base.
Situated in the Bronx Urban Core, the property benefits from a B-rated neighborhood with occupancy that is above the metro median among 889 neighborhoods, per WDSuite. Note that occupancy metrics reflect the neighborhood, not the property. The submarket’s renter-occupied share is high, indicating a broad tenant base and generally steady renewal potential for multifamily operators.
Everyday convenience is a strength: grocery and pharmacy access ranks in the top quartile nationally, and restaurants are likewise top quartile. Parks are also top quartile nationally, while cafes and childcare options perform above the metro median. These features help support day-to-day livability and reduce friction in leasing, particularly for workforce housing.
The asset’s 2010 construction is newer than the neighborhood’s older average (1970), offering relative competitiveness versus legacy stock. Investors should still plan for periodic system updates and potential common-area refreshes to maintain positioning against newer deliveries.
Within a 3-mile radius, household counts increased over the last five years and are projected to expand further as average household size trends smaller. This combination implies a larger renter pool over time, which can support occupancy stability. Elevated ownership costs in the area sustain reliance on rental housing, reinforcing depth of demand while warranting careful rent-to-income monitoring for lease management.
Safety indicators are mixed. Relative to neighborhoods nationwide, this area tracks below the national average for safety; within the New York–Jersey City–White Plains metro it places around the middle of 889 neighborhoods. Recent trend data from WDSuite shows estimated violent and property offense rates declining year over year (approximately -13% in each category), which investors may view as incremental improvement, though ongoing monitoring remains prudent.
Proximity to established Manhattan corporate offices supports commuter convenience and leasing durability for workforce renters. Nearby employers include media, airlines, hospitality, apparel, and beauty corporate offices noted below.
- Disney ABC Television Group — media (6.1 miles)
- Jetblue Airways — airline (6.2 miles) — HQ
- Loews — hospitality (6.2 miles) — HQ
- Ralph Lauren — apparel (6.2 miles) — HQ
- Estee Lauder — beauty (6.3 miles) — HQ
This 92-unit, 2010-vintage multifamily asset is positioned in a renter-heavy Bronx neighborhood where occupancy trends remain above the metro median and amenities are a clear strength. The combination of strong daily-needs access (grocery, pharmacy, parks) and proximity to Manhattan employers supports leasing velocity and renewal stability. Based on CRE market data from WDSuite, the neighborhood’s renter concentration and stable occupancy, coupled with a newer vintage than much of the surrounding stock, provide a defensible competitive position.
Within a 3-mile radius, households have grown and are projected to expand further as average household size declines, signaling a larger tenant base over time. Elevated ownership costs relative to local incomes reinforce multifamily reliance, while higher rent-to-income ratios warrant disciplined rent setting and renewal strategies. Operators should account for neighborhood safety perceptions and school ratings in marketing and amenity programming.
- Newer 2010 construction versus older neighborhood stock supports competitive positioning
- Above-metro-median neighborhood occupancy and high renter concentration support demand stability
- Strong daily-needs access (grocery, pharmacy, parks) and nearby corporate employment underpin leasing
- 3-mile household growth and smaller household sizes imply a larger renter pool over time
- Risks: affordability pressure (rent-to-income), safety perceptions, and school ratings require active management