| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 57th | Fair |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 290 Myrtle Ave, Staten Island, NY, 10310, US |
| Region / Metro | Staten Island |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2004-05-25 |
| Transaction Price | $1,500,000 |
| Buyer | CEKA REALTY CORP |
| Seller | MYRTLE PROPERTIES LLC |
290 Myrtle Ave, Staten Island — 24-Unit Multifamily Position
Stable neighborhood occupancy and strong amenity access suggest durable renter demand in Staten Island according to WDSuite 27s CRE market data for the surrounding area. The 1973 vintage points to pragmatic value-add potential while remaining competitive versus older nearby stock.
The property sits in an Urban Core neighborhood rated A- and ranked 179 out of 889 within the New York–Jersey City–White Plains metro a position in the top quartile among metro neighborhoods. For investors, that standing signals balanced fundamentals and a renter base supported by local services and access to jobs.
Amenity access is a local strength: neighborhood amenity measures, including restaurants, groceries, parks, and pharmacies, benchmark in the low-90s national percentiles. This breadth helps with retention and day-to-day livability, and it aligns with investor expectations for urban workforce housing.
Neighborhood occupancy is reported at roughly 93% and sits above the national median (per WDSuite). Within a 3-mile radius, tenant demand is reinforced by a sizable and growing population and households, with incomes skewing higher than many U.S. areas. The renter-occupied share within 3 miles is in the low-to-mid 40% range, indicating meaningful depth in the tenant pool for multifamily operators while still leaving room for competitive positioning against ownership.
Home values in the neighborhood are elevated relative to national norms, with median values in the low-to-mid $600Ks and a value-to-income ratio around five. In investor terms, this high-cost ownership environment helps sustain reliance on rental housing and can support pricing power, provided lease management stays attentive to affordability and retention.
Vintage context matters: much of the area 27s housing stock skews older (average construction year circa 1950). A 1973 asset can compete favorably against older buildings while still requiring targeted capital planning for systems, common areas, and unit finishes to meet renter expectations.
Safety indicators should be evaluated thoughtfully. On a metro basis, the neighborhood 27s crime ranking sits in the lower portion of the distribution (rank 171 out of 889), suggesting it is below the metro median for safety. Nationally, overall crime benchmarks below the median as well, while recent trend data shows notable improvement in property offenses.
According to WDSuite 27s CRE market data, estimated property offense rates declined sharply year over year, placing that improvement in a strong national tier, while violent offense levels benchmark weaker nationally. Investors typically address this mix through security-minded operations, lighting and access controls, and resident screening to support leasing stability.
Nearby corporate offices help anchor employment and support renter demand through commute convenience. Key nodes within an 8-mile radius include Performance Food Group, Dr Pepper Snapple Group, Robert Half, S&P Global, and Guardian Life.
- Performance Food Group food distribution (3.9 miles)
- Dr Pepper Snapple Group beverages (6.5 miles)
- Robert Half International staffing & consulting (7.7 miles)
- S&P Global financial information (7.8 miles) HQ
- Guardian Life Ins. Co. of America insurance (7.9 miles) HQ
290 Myrtle Ave is a 24-unit, 1973-vintage asset in Staten Island 14positioned in a top-quartile metro neighborhood with strong access to daily amenities and employment. Based on CRE market data from WDSuite, neighborhood occupancy trends are above national medians and homeownership costs are elevated, both of which support a durable renter base and pricing resiliency when paired with disciplined lease management.
The building 27s 1970s vintage suggests targeted value-add opportunities: modernizing common areas, mechanicals, and smaller-format units can sharpen competitiveness versus older local stock. Demographic momentum within a 3-mile radius 14including growth in households and incomes 14points to a larger tenant base over the medium term, supporting occupancy stability for well-operated multifamily properties.
- Top-quartile neighborhood within the metro, with amenity access benchmarking strongly at the national level.
- Above-median neighborhood occupancy and high ownership costs reinforce multifamily demand and retention potential.
- 1973 vintage offers value-add angles to compete against older nearby stock.
- Nearby corporate offices expand the commuter renter pool and support leasing depth.
- Risks: safety benchmarks below metro median and aging systems; plan for security-minded operations and capex to protect NOI.