| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1331 Bay St, Staten Island, NY, 10305, US |
| Region / Metro | Staten Island |
| Year of Construction | 1999 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1331 Bay St, Staten Island Multifamily Investment Opportunity
Positioned in an Urban Core pocket of Staten Island, the asset benefits from a sizable renter base and steady neighborhood occupancy, according to WDSuite s CRE market data. Newer construction for the area supports competitive operations while local demand drivers help underpin leasing stability.
The property sits in a Staten Island Urban Core setting with a balanced mix of neighborhood conveniences. Dining and daily-needs access are strengths: restaurant density ranks in the top quartile nationally (99th percentile), with pharmacies and cafes also testing high (98th percentile). Parks are similarly abundant (98th percentile), adding livability for residents. By contrast, immediate-neighborhood grocery and formal childcare options are limited, which may shift some errands to nearby districts.
Neighborhood occupancy stands at 85.2% and has been broadly stable over the past five years. Note that this figure is measured for the neighborhood, not the property. The share of housing units that are renter-occupied is 46.7%, indicating a meaningful renter concentration that supports depth of tenant demand for multifamily.
At the neighborhood level, elevated home values (85th percentile nationally) and a very high value-to-income ratio reinforce reliance on rental housing, which can aid retention and pricing power for well-managed assets. Within a 3-mile radius, demographics show population and household growth in recent years with further gains projected, expanding the renter pool and supporting occupancy stability. Median contract rents in the 3-mile radius have grown and are forecast to continue rising, aligning with sustained multifamily demand.
The building s 1999 vintage is newer than the neighborhood s average construction year (1966). That relative age can improve competitive positioning versus older stock and may moderate near-term capital expenditures, though planning for systems modernization and selective upgrades remains prudent for long-term performance.
Safety conditions are mixed when viewed against national benchmarks. Neighborhood crime metrics sit below national percentiles for safety (e.g., violent and property offense measures are in lower national percentiles), signaling a need for routine risk management and resident engagement. However, recent trend data shows modest year-over-year improvements, with violent offenses and property offenses both declining, which is constructive from a trend perspective.
Investors should frame this as an underwriting consideration rather than a thesis driver: focus on standard security measures, lighting, and community partnerships, and compare incident trends to peer neighborhoods across the New York Jersey City White Plains metro to contextualize ongoing performance.
Nearby employment centers span beverages, staffing, financial information, insurance, and food distribution, supporting renter demand through commute convenience and a diverse white-collar workforce. The list below highlights notable employers within a 5 8 mile band.
- Dr Pepper Snapple Group beverages (5.3 miles)
- Robert Half International staffing & recruiting (6.9 miles)
- S&P Global financial information & ratings (6.9 miles) HQ
- Guardian Life Ins. Co. of America insurance (7.0 miles) HQ
- Performance Food Group food distribution (7.0 miles)
1331 Bay St combines Urban Core convenience with a tenant base supported by strong amenity access and a meaningful share of renter-occupied housing. Neighborhood occupancy has been steady, and within a 3-mile radius, recent population and household growth point to a larger renter pool ahead. Elevated ownership costs locally tend to sustain rental demand, while the property s 1999 vintage offers competitive positioning versus older stock and room for targeted value-add to drive rent and retention.
According to CRE market data from WDSuite, local dining, parks, and daily services rank well nationally, which can bolster leasing and renewal outcomes. Average unit sizes around 425 square feet can appeal to cost-conscious renters and singles, supporting absorption and pricing efficiency when paired with effective lease management. Key risks include below-national safety percentiles and pockets of neighborhood vacancy, which warrant conservative underwriting and proactive operations.
- Urban Core location with strong amenity access supports leasing and renewals
- 1999 vintage offers competitive edge versus older area stock with selective upgrade potential
- 3-mile radius shows population and household growth, expanding the renter pool
- Smaller average unit size positions for value-oriented demand and efficient pricing
- Risks: below-national safety percentiles and neighborhood vacancy require diligent operations