| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 59th | Fair |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 Cortelyou Ave, Staten Island, NY, 10312, US |
| Region / Metro | Staten Island |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 1998-10-27 |
| Transaction Price | $925,000 |
| Buyer | 300 CORTELYOU REALTY CORP |
| Seller | ROSE COURT ASSOCIATES |
300 Cortelyou Ave Staten Island Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by elevated ownership costs and occupancy in the low 90s, according to WDSuite’s CRE market data. For investors, the area’s owner-heavy profile suggests a focused but resilient tenant base.
Located in Staten Island’s Urban Core, the property benefits from a daily-needs footprint where grocery and pharmacy access rank strong across the metro and sit in high national percentiles, while restaurant density is competitive for the borough. Café and park density are lighter, so the amenity mix skews toward essentials over lifestyle venues. Based on CRE market data from WDSuite, neighborhood occupancy is in the low 90s, which supports baseline leasing stability without signaling overheated conditions.
The area is predominantly owner-occupied at the neighborhood level, indicating a lower renter-occupied share and a more selective multifamily demand profile. For investors, that typically translates to steadier tenancy in well-managed assets, with pricing power driven more by quality and convenience than by abundant turnover. Elevated home values relative to income in the neighborhood context tend to keep households in rental longer, reinforcing depth for well-located apartments.
Within a 3-mile radius, demographics show recent population growth and a projected expansion in both households and incomes through the next five years. This implies a gradually larger renter pool and supports occupancy stability for existing stock. The income distribution also includes a sizable upper-income segment, which can underpin demand for renovated or well-maintained units while still requiring attention to rent-to-income alignment for retention.
Vintage across the neighborhood skews slightly newer than this asset. With a 1972 construction year, investors should underwrite near- and medium-term capital needs and consider value-add upgrades to remain competitive against newer stock, particularly in kitchens, baths, and building systems.
Safety indicators for the neighborhood are mixed in a national context. Overall crime levels sit near the national middle, but violent offense metrics compare less favorably than many U.S. neighborhoods. Recent trend data shows a meaningful year-over-year reduction in property offenses, which is constructive for perception and claims risk. For asset strategy, plan for standard urban security measures and responsive on-site management to support resident retention.
Proximity to regional employers supports commute convenience and renter retention, with a concentration in food distribution, pharmaceuticals, logistics, and consumer goods reflected below.
- US Foods — foodservice distribution (5.96 miles)
- Performance Food Group — foodservice distribution (8.20 miles)
- Merck — pharmaceuticals (10.39 miles) — HQ
- FedEx SmartPost — logistics (11.45 miles)
- Dr Pepper Snapple Group — beverages (11.66 miles)
300 Cortelyou Ave offers exposure to Staten Island’s owner-leaning Urban Core, where elevated home values and stable neighborhood occupancy support multifamily leasing durability. The asset’s 1972 vintage is older than nearby averages, pointing to clear value-add and system upgrade opportunities to capture demand from higher-income households while maintaining rent-to-income balance for retention. According to CRE market data from WDSuite, the neighborhood’s essentials-focused amenity mix and improving property-crime trends further support operational stability.
Within a 3-mile radius, recent and projected growth in population and households indicates a gradually expanding renter pool. Combined with strong grocery/pharmacy access and solid restaurant density, the location fundamentals support steady occupancy for well-managed assets, with upside tied to targeted renovations and curb appeal.
- Elevated ownership costs reinforce rental demand and lease retention potential.
- 1972 vintage offers value-add potential via interior upgrades and building systems.
- Essentials-rich trade area (grocery/pharmacy) and solid restaurant density support daily convenience.
- Expanding 3-mile population and household counts point to a larger renter pool over time.
- Risks: owner-heavy neighborhood limits the immediate tenant pool; safety metrics for violent offenses require proactive property management.