| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 39th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 216 Jersey St, Staten Island, NY, 10301, US |
| Region / Metro | Staten Island |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2011-12-22 |
| Transaction Price | $14,000,000 |
| Buyer | FAIRWAY RICHMOND HOUSING DEVELOPMENT FUN |
| Seller | RICHMOND HOUSING ASSOCIATES LP |
216 Jersey St, Staten Island Multifamily Investment
Renter demand is supported by a high-cost ownership landscape and a majority share of renter-occupied housing at the neighborhood level, according to WDSuite’s CRE market data. The submarket’s amenities and ongoing household growth suggest durable leasing fundamentals with selective value-add potential.
This Urban Core pocket of Staten Island rates B+ overall and is competitive among New York–Jersey City–White Plains neighborhoods (324 of 889), signaling balanced fundamentals for workforce and market-rate renters. Neighborhood metrics reflect the neighborhood, not the subject property.
Daily convenience is a strength: groceries and pharmacies are dense for the metro, and parks and restaurants benchmark in the top deciles nationally. This concentration of amenities supports resident retention and gives operators more levers on leasing and renewals.
The neighborhood’s renter concentration is above metro norms, with more than half of housing units renter-occupied, indicating a deeper tenant base for multifamily assets. Median contract rents trend mid-to-upper range for the region, while a rent-to-income profile near one-quarter supports lease stability and reduces near-term affordability pressure relative to many coastal submarkets.
Within a 3-mile radius, population and household counts have grown in recent years, and forecasts point to further increases by 2028. This expansion — paired with a broad income mix — enlarges the local renter pool and supports occupancy resilience for well-managed assets.
Elevated home values relative to income (high national percentile) position this as a high-cost ownership area, which typically sustains reliance on rental housing and can reinforce pricing power for well-located multifamily. Average neighborhood building stock skews older, while the subject’s 1984 vintage is newer than much of the surrounding inventory, offering a foothold for cosmetic and systems upgrades to sharpen competitive positioning.
School ratings trail national averages, which may moderate appeal for some family renters; operators can offset with unit features and access to nearby amenities when targeting demand segments less sensitive to school performance.
Safety indicators benchmark below national averages at the neighborhood level (lower national percentiles indicate higher crime), though recent trends show improvement with year-over-year declines in both violent and property offense estimates. Within the metro, the neighborhood’s safety profile sits below the median, so underwriting should incorporate prudent security, lighting, and access-control planning.
For investors, the key takeaway is directional: offense rates have been trending downward, which can support leasing and renewal efforts over time, but current levels warrant conservative assumptions and active operations to maintain resident confidence.
Proximity to Manhattan and Downtown Brooklyn expands access to diversified employment nodes. Nearby employers span consumer products, food distribution, professional services, and financial headquarters — a mix that supports commuter convenience and broad renter demand.
- Dr Pepper Snapple Group — consumer products (4.4 miles)
- Performance Food Group — food distribution (4.8 miles)
- Robert Half International — professional staffing (5.7 miles)
- S&P Global — financial information services (5.8 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (5.9 miles) — HQ
Built in 1984, this 20-unit asset offers a relatively newer vintage than much of the surrounding housing stock, positioning it for targeted value-add to improve finishes and building systems while remaining competitive against older comparables. Elevated ownership costs in the neighborhood underpin sustained reliance on rental housing, and a majority renter-occupied share indicates depth in the tenant base. According to CRE market data from WDSuite, amenity density is a local advantage, while household growth within 3 miles points to a larger renter pool over the next several years.
Operators should underwrite conservatively for neighborhood-level occupancy that tracks below national averages and incorporate active management of safety and curb appeal. The smaller-format unit mix can support attainable rents and broaden demand capture, with upside from selective renovations and operational execution.
- 1984 vintage offers value-add potential versus older neighborhood stock
- High-cost ownership market supports renter reliance and pricing power
- Dense amenities and expanding 3-mile renter pool support retention
- Risks: below-median safety and softer neighborhood occupancy require conservative underwriting and active management