| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 46th | Poor |
| Amenities | 78th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Carmel Ct, Staten Island, NY, 10304, US |
| Region / Metro | Staten Island |
| Year of Construction | 1983 |
| Units | 100 |
| Transaction Date | 2013-06-27 |
| Transaction Price | $8,950,000 |
| Buyer | CARMEL HOUSING DEVELOPMENT FUND COMPANY |
| Seller | CARMEL HOUSING DEVELOPMENT FUND COMPANY |
2 Carmel Ct Staten Island Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. Expect stable leasing fundamentals with room for value-add positioning in an Urban Core pocket of Staten Island.
Located in Staten Island’s Urban Core, the property benefits from neighborhood fundamentals that are competitive among New York-Jersey City-White Plains neighborhoods (316th of 889 by overall rank). Amenity access is a relative strength: grocery and pharmacy density sit in the top national percentiles, with cafes and restaurants also performing above average. These patterns typically underpin daily convenience and support retention for workforce and middle-income renters.
The neighborhood’s occupancy rate is in the top quartile nationally, signaling durable leasing conditions versus many U.S. areas. Renter-occupied share is roughly two-fifths of housing units, indicating a meaningful tenant base without overwhelming reliance on renters; investors can underwrite to steady demand while watching for seasonality. Median contract rents sit above national norms, while the rent-to-income ratio near 0.19 suggests manageable affordability pressure relative to other coastal submarkets, which can aid retention and limit turnover risk.
Within a 3-mile radius, population and household counts have expanded in recent years, with WDSuite data indicating additional growth ahead. Forecasts call for further increases in both households and incomes, which generally support a larger tenant base and pricing resilience over the medium term. At the same time, the area’s elevated home values (top decile nationally) reinforce continued reliance on rental housing, a positive for occupancy stability in professionally managed multifamily.
School ratings trend below national averages and park access is limited, which can matter for family-oriented leasing; operators may lean into convenience, commute access, and on-site amenities to compete. Vintage context also helps: the property was built in 1983, newer than the neighborhood’s average construction year, which positions it competitively against older stock while still warranting capital planning for systems modernization and common-area upgrades.
Safety indicators are mixed. The neighborhood sits below the national median for safety based on WDSuite’s crime percentiles, yet both violent and property offense rates show year-over-year improvement. This trajectory suggests recent moderation in reported incidents, though investors should still underwrite with prudent security and operating practices typical for dense Urban Core locations.
In comparative terms, the area is not among the top quartile nationally for safety, but improving trends can help leasing consistency when paired with on-site measures (lighting, access controls) and resident engagement. As always, evaluate submarket and street-level dynamics during due diligence to align operating plans with the immediate surroundings.
Proximity to a diverse set of corporate offices supports commuter demand and lease retention. Nearby employers include food & beverage distributors, staffing services, and major financial services headquarters listed below.
- Performance Food Group — food distribution (6.7 miles)
- Dr Pepper Snapple Group — beverages (6.9 miles)
- Robert Half International — staffing & professional services (8.5 miles)
- S&P Global — financial services (8.5 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (8.6 miles) — HQ
This 1983-vintage, 100-unit asset sits in a neighborhood with top-quartile national occupancy and strong daily conveniences, creating a foundation for leasing stability. Elevated home values relative to incomes at the neighborhood level point to a high-cost ownership market, which typically sustains multifamily demand and supports rent roll durability. According to CRE market data from WDSuite, renter-occupied housing comprises roughly two-fifths of units locally, indicating depth in the tenant base without overconcentration.
Demographics aggregated within a 3-mile radius show recent growth in population and households with further expansion forecast, a constructive backdrop for absorption and renewal performance. While school ratings and safety metrics trail national medians and park access is limited, the property’s newer-than-average vintage versus local stock offers a competitive position for value-add upgrades to interiors and common areas to capture renter demand.
- Top-quartile neighborhood occupancy supports stable leasing and renewal rates
- High-cost ownership market reinforces renter reliance and demand depth
- 1983 vintage is newer than area average, enabling competitive value-add
- 3-mile growth in households and incomes expands the tenant base
- Risks: below-median safety and school ratings; limited park access