| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 50th | Fair |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Targee St, Staten Island, NY, 10304, US |
| Region / Metro | Staten Island |
| Year of Construction | 1972 |
| Units | 98 |
| Transaction Date | 2020-03-25 |
| Transaction Price | $1,017,834 |
| Buyer | ANNUNZIATA JOSEPH |
| Seller | BARANOFF ROBERT LE |
1000 Targee St Staten Island Multifamily Opportunity
Neighborhood occupancy trends in the low 90s and a high-cost ownership landscape point to steady renter demand in Staten Island, according to WDSuite’s CRE market data.
This Urban Core location balances daily convenience with measured growth. Neighborhood grocery and pharmacy access ranks strong compared with areas nationwide, while restaurants are reasonably available; parks, cafes, and childcare are thinner locally. Average school ratings sit near the national middle. Taken together, fundamentals support day-to-day livability without relying on destination amenities.
For investors screening rent and occupancy dynamics, neighborhood occupancy has held in the low 90s with modest improvement over five years, landing around the national middle-to-above range based on CRE market data from WDSuite. Median asking rents in the neighborhood benchmark above many U.S. areas, while rent-to-income levels suggest manageable affordability pressure for a broad working‑household base. These are neighborhood-level indicators, not property performance.
Ownership costs are elevated relative to incomes locally, a common pattern in the New York metro. That dynamic typically sustains reliance on rental housing and can support leasing stability and retention. Within a 3‑mile radius, the renter-occupied share is roughly two‑fifths of housing units, indicating a sizable tenant base without being overwhelmingly renter‑heavy.
Demographic trends within 3 miles show population and households expanding over the last five years, with further growth projected by mid‑decade. A larger household count points to a deeper renter pool, which can help support occupancy stability and pricing discipline through various cycles.
Safety outcomes are mixed versus the broader New York–Jersey City–White Plains metro. Compared with neighborhoods nationwide, the area sits near the middle overall, with violent and property offense rates that have trended downward in the most recent year. Notably, estimated property offenses declined sharply year over year, and violent incidents also eased, according to WDSuite’s CRE market data.
At the metro level, the neighborhood’s crime ranking is in the lower half among 889 neighborhoods, so investors should underwrite with standard operating assumptions and consider routine security and lighting upgrades typical for Urban Core assets. The directional improvement is a constructive signal, but property‑level measures and management practices remain important drivers of resident sentiment.
Nearby corporate offices across food distribution, beverages, staffing, and financial services provide diversified employment centers that help support renter demand and commute convenience for workforce households.
- Performance Food Group — food distribution (6.2 miles)
- Dr Pepper Snapple Group — beverages (6.5 miles)
- Robert Half International — staffing & recruiting (8.0 miles)
- S&P Global — financial information (8.1 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (8.1 miles) — HQ
Built in 1972 with 98 units, the property offers a classic value‑add profile in a submarket where neighborhood occupancy trends in the low 90s and high ownership costs reinforce sustained rental demand. The average unit size is compact, which can position the asset competitively for price‑sensitive renters while leaving room for targeted renovations to improve finishes, energy systems, and common areas. Based on commercial real estate analysis from WDSuite, neighborhood rents benchmark above many U.S. areas while rent‑to‑income levels indicate room to manage pricing without overextending typical working‑household budgets.
Macro context is constructive: within a 3‑mile radius, population and households have grown and are projected to expand further, supporting a larger tenant base over the next several years. Strong access to groceries and pharmacies, plus proximity to diversified employment nodes, underpins day‑to‑day livability and retention potential. Key underwriting considerations include routine CapEx for a 1970s asset, measured amenity depth in the immediate area, and consistent property‑level safety practices to align with resident expectations.
- 1972 vintage with clear value‑add and modernization levers across interiors and building systems
- Neighborhood occupancy in the low 90s supports leasing stability versus broader U.S. norms
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power and retention
- 3‑mile population and household growth expands the renter pool and supports absorption
- Risks: 1970s CapEx needs, thinner park/cafe amenities nearby, and the need for standard safety/lighting investments