| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 24th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1779 Southern Blvd, Bronx, NY, 10460, US |
| Region / Metro | Bronx |
| Year of Construction | 2007 |
| Units | 20 |
| Transaction Date | 2012-11-27 |
| Transaction Price | $2,545,500 |
| Buyer | 1779 SOUTHERN LLC |
| Seller | SOUTHERN BLVD CONTRACTING CORP |
1779 Southern Blvd Bronx Multifamily — 2007 Vintage
High renter concentration in the surrounding neighborhood supports a deep tenant base and above-median metro occupancy, according to WDSuite’s CRE market data. Investors evaluating the Bronx will note demand durability tied to location fundamentals rather than luxury positioning.
Situated in the Urban Core of the Bronx, the area around 1779 Southern Blvd shows strong renter demand fundamentals. Neighborhood occupancy is 95.3% and has edged higher over the last five years; this places the area above the metro median and in the top quartile nationally for occupancy. Importantly, these occupancy metrics describe the neighborhood, not the property.
Livability is reinforced by dense amenities: neighborhood data ranks groceries, restaurants, parks, and pharmacies near the top of national comparisons (many in the 98th–100th percentiles), which helps retention and reduces turnover friction. School ratings trail national averages, which can temper family-oriented demand but is often offset in the Bronx by workforce proximity and transit access typical of Urban Core locations.
The property’s 2007 construction is newer than the neighborhood’s average 1970 vintage, giving it competitive positioning versus older local stock. Newer systems can reduce near-term capital exposure and support pricing power if kept well-maintained, though periodic modernization may still be prudent for leasing appeal.
Tenure patterns are firmly renter-oriented: within the neighborhood, renter-occupied housing is among the highest shares metro-wide, indicating depth for multifamily leasing and potential stability during cycles. In the 3-mile radius, demographics show a large population base with households having grown in recent years and projected to expand further, alongside smaller average household sizes. For investors, that points to a broader tenant pool and support for occupancy over time.
Home values in the neighborhood sit well above most U.S. neighborhoods, signaling a high-cost ownership market. This tends to sustain reliance on rental housing and can aid lease retention. At the same time, rent-to-income ratios indicate affordability pressure for some renters, suggesting operators should emphasize renewal strategies and measured rent setting to balance occupancy and revenue.
Safety indicators for the neighborhood lag national norms, with violent and property offense rates positioned in lower national percentiles. However, recent trend data shows year-over-year declines in both violent and property offenses, indicating improvement momentum. These figures reflect neighborhood-level patterns, not property-specific security.
Relative to the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is toward the less favorable end among 889 metro neighborhoods, while the national positioning is below average. Investors typically underwrite to enhanced onsite security practices and resident engagement, and may weigh insurance and operating protocols accordingly while noting the improving trajectory.
Nearby Midtown corporate clusters provide a broad employment base supportive of renter demand and commuting convenience, including aviation, media, hospitality, and apparel headquarters noted below.
- Jetblue Airways — aviation HQ (6.6 miles) — HQ
- Disney ABC Television Group — media offices (6.6 miles)
- Loews — hospitality & insurance HQ (6.7 miles) — HQ
- Cognizant Technology Solutions — IT services HQ (6.7 miles) — HQ
- Ralph Lauren — apparel HQ (6.7 miles) — HQ
This 2007-vintage, 20-unit property is positioned in a renter-heavy Bronx neighborhood where occupancy has been above the metro median and in the top quartile nationally, supporting income durability. The building’s newer vintage relative to local stock enhances competitiveness versus older assets, while dense neighborhood amenities aid retention. According to CRE market data from WDSuite, elevated ownership costs locally reinforce reliance on rentals, though rent-to-income levels suggest operators should prioritize renewals and thoughtful rent setting.
Neighborhood household counts have risen and are projected to expand within a 3-mile radius, pointing to a larger tenant base over time. At the metro scale, neighborhood NOI per unit performance ranks in the top quartile among 889 metro neighborhoods yet sits around midrange nationally, suggesting room for efficient operations without assuming outsized growth. Safety metrics remain a watch item but show recent improvement, warranting standard risk controls rather than outsized premiums.
- Renter-oriented location with occupancy above metro median and top quartile nationally
- 2007 construction competes well against older neighborhood stock
- Dense amenities and strong employment access support retention and leasing
- High-cost ownership market reinforces multifamily demand
- Risks: renter affordability pressure and below-average safety metrics call for measured rent strategy and robust operations