| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 46th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Parkinson Ave, Staten Island, NY, 10305, US |
| Region / Metro | Staten Island |
| Year of Construction | 1978 |
| Units | 36 |
| Transaction Date | 2018-10-23 |
| Transaction Price | $7,200,000 |
| Buyer | GRASMERE GARDENS REALTY LLC |
| Seller | GRASMERE GARDENS L L C |
100 Parkinson Ave Staten Island Multifamily Opportunity
Positioned in an Urban Core pocket with neighborhood occupancy trending above national medians and competitive among New York-Jersey City-White Plains submarkets, this asset targets stable renter demand and steady leasing. According to WDSuite’s CRE market data, renter concentration in the surrounding neighborhood supports a consistent tenant base.
The property sits within a Staten Island Urban Core neighborhood rated B+, where neighborhood occupancy trends are in the upper tiers nationally (78th percentile) and competitive among 889 metro neighborhoods. These neighborhood statistics reflect area dynamics, not the property’s operations, but they signal support for leasing stability.
Local amenity coverage is a relative strength: neighborhood measures indicate dense access to groceries and pharmacies (both near the top of national distributions) and above-average dining and café options. This level of daily-needs proximity typically underpins renter convenience and retention versus many U.S. neighborhoods.
Vintage matters for competitive positioning. Built in 1978 against a neighborhood average construction year of 1967, the property is newer than much of the surrounding housing stock, suggesting relative appeal versus older assets. Investors should still plan for system upgrades and selective modernization to sustain performance and capture value-add upside.
Tenure patterns in the neighborhood show a meaningful share of housing units that are renter-occupied (around two in five), indicating depth in the multifamily tenant pool. Within a 3-mile radius, demographics point to continued demand drivers: recent population and household growth, with forecasts indicating further expansion in households by the next five-year period, imply a larger renter base that can support occupancy and absorption. Median household incomes in the area have trended upward, which, alongside rent-to-income metrics near national mid-range levels, supports pricing power with balanced affordability management.
Ownership costs in the neighborhood are elevated compared with many U.S. areas (home values sit in the 90th-plus national percentile and value-to-income ratios are similarly high). In investor terms, a high-cost ownership market tends to reinforce renter reliance on multifamily housing, supporting lease retention and reducing competitive pressure from for-sale alternatives. School ratings for the neighborhood, however, trail national norms, a consideration for family-oriented renter segments and marketing strategy.
Neighborhood safety indicators suggest exposure that is below the national median for safety (around the 41st percentile nationally). Within the metro, the crime rank sits at 201 out of 889 neighborhoods, indicating higher-than-metro-average crime levels. These figures represent neighborhood context rather than conditions specific to the property.
Recent trend data shows improvement year over year, with both violent and property offense rates declining in the neighborhood, a constructive signal for investors monitoring directionality. While continued vigilance is warranted, a downward trajectory can aid perception and leasing over time.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for workforce tenants, including consumer goods, food distribution, professional services, and financial services employers listed below.
- Dr Pepper Snapple Group — consumer goods (6.6 miles)
- Performance Food Group — food distribution (6.7 miles)
- Robert Half International — professional staffing (8.2 miles)
- S&P Global — financial information services (8.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (8.3 miles) — HQ
100 Parkinson Ave combines Urban Core fundamentals with a demand profile supported by neighborhood occupancy that ranks competitive among New York-Jersey City-White Plains neighborhoods and above national medians. Elevated home values and value-to-income ratios point to a high-cost ownership market, which typically sustains renter reliance on multifamily units and supports retention. Built in 1978, the asset is somewhat newer than the neighborhood average, offering relative competitiveness versus older stock while leaving room for targeted renovations to enhance rents and durability.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, implying a larger tenant base and support for occupancy stability. Neighborhood rents have advanced over the last five years while rent-to-income sits near national mid-range levels, suggesting room for disciplined pricing and renewal management. According to CRE market data from WDSuite, amenity access is strong and occupancy trends align with sustained renter demand, though investors should underwrite for safety perceptions and school quality when targeting family households.
- Competitive Urban Core location with occupancy levels above national medians
- High-cost ownership market reinforces multifamily demand and lease retention
- 1978 vintage offers value-add and modernization pathways versus older local stock
- Strong daily-needs access (groceries, pharmacies, dining) supports renter convenience
- Risks: neighborhood safety ranks below national median and school ratings trail national norms