| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Poor |
| Demographics | 38th | Poor |
| Amenities | 77th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3310 Palmer Ave, Bronx, NY, 10475, US |
| Region / Metro | Bronx |
| Year of Construction | 1999 |
| Units | 68 |
| Transaction Date | 2016-06-14 |
| Transaction Price | $24,600,000 |
| Buyer | PALMER AVE ESTATES LLC |
| Seller | PALMER COURT ASSOCIATES LLC |
3310 Palmer Ave, Bronx Multifamily Investment Opportunity
Neighborhood occupancy trends sit above the metro median and the 2000 vintage offers relative competitiveness versus older stock, according to WDSuite’s CRE market data. Renter demand is supported by a sizable tenant base in the surrounding 3-mile radius, aiding leasing stability.
This Urban Core location in the Bronx balances daily-needs convenience with stable renter demand. Amenity access is competitive among 889 New York–Jersey City–White Plains neighborhoods (amenities rank 300 of 889; top quartile nationally), with strong concentrations of grocery, pharmacy, and restaurants by national percentiles. Average school ratings in the area are lower by national comparison, which investors should factor into positioning.
Occupancy in the neighborhood benchmarks above the metro median (rank 368 of 889; roughly upper half) and sits in the 73rd percentile nationally, an indicator of demand resilience for multifamily. Median contract rents in the neighborhood are also above the national midpoint (68th percentile), while the rent-to-income ratio trends around lower national percentiles, suggesting manageable resident affordability that can support retention and mitigate turnover risk.
The property’s 2000 construction year is newer than the neighborhood’s average vintage (1980), which can help competitive positioning versus older buildings; investors should still plan for system refreshes typical of a 2000-era asset. Within a 3-mile radius, 63.8% of housing units are renter-occupied, indicating a deep tenant pool and broad demand for multifamily product. Neighborhood home values trend in the lower national percentiles, which can introduce some competition from ownership options; leasing strategy should emphasize convenience, flexibility, and professional management to sustain absorption and renewals.
Demographic statistics are aggregated within a 3-mile radius. Recent history shows modest population softness but growth in households, pointing to smaller household sizes and continued renter pool expansion. Forward-looking projections indicate increases in households and incomes, which support stable occupancy and measured rent growth potential when aligned with property-level improvements.
Safety indicators for the neighborhood trend weaker than many parts of the metro and nation (crime rank 440 of 889; lower national percentiles). Property-related offenses show a recent year-over-year decline, while violent offense estimates ticked up slightly, according to WDSuite’s market benchmarks. Investors should underwrite prudent security measures and lean on professional management practices to support resident experience and retention.
Comparatively, these metrics place the area below metro average and well below top-quartile national benchmarks for safety. Trend monitoring and asset-level controls can help mitigate risk, and value-focused positioning may remain effective given the area’s established renter base.
Proximity to major corporate offices across technology, aviation, media, and diversified holdings supports a broad employment base and commute convenience for renters. Nearby employers include Cognizant, Cognizant Technology Solutions, JetBlue Airways, Disney ABC Television Group, and Loews.
- Cognizant — technology services (8.98 miles)
- Cognizant Technology Solutions — technology services (9.00 miles) — HQ
- Jetblue Airways — aviation (10.34 miles) — HQ
- Disney ABC Television Group — media (10.52 miles)
- Loews — diversified holdings (10.59 miles) — HQ
3310 Palmer Ave offers investors a 68-unit asset built in 2000, positioned in a renter-heavy Bronx micro-market where neighborhood occupancy trends above the metro median. Daily-needs access is strong by national standards, and rents benchmark above the national midpoint while rent-to-income metrics suggest manageable affordability—factors that can support retention and steady leasing. Based on commercial real estate analysis from WDSuite, the area’s household growth outlook and rising incomes within a 3-mile radius reinforce demand for well-managed multifamily.
Relative to older local stock, the 2000 vintage can be competitive; however, investors should still plan for targeted capital to modernize interiors and common areas and to address system aging typical of this era. Safety metrics trail metro and national benchmarks, so underwriting should include appropriate security and operating practices. With thoughtful value-add and professional management, the asset can capture durable demand from a broad tenant base.
- Neighborhood occupancy above metro median supports stability
- 2000 vintage provides competitive positioning versus older stock
- Strong daily-needs access and renter concentration within 3 miles bolster leasing
- Manageable rent-to-income dynamics aid renewal and pricing discipline
- Risk: safety metrics below metro and national averages warrant enhanced management