| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 59th | Fair |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 37 Petrus Ave, Staten Island, NY, 10312, US |
| Region / Metro | Staten Island |
| Year of Construction | 1991 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
37 Petrus Ave, Staten Island — 27-Unit Multifamily
Steady neighborhood occupancy and a high-cost ownership market support durable renter demand, according to WDSuite’s CRE market data. 1991 construction offers relative competitiveness versus older local stock while allowing room for targeted upgrades.
The property sits within Staten Island’s Urban Core, where neighborhood metrics point to stable multifamily fundamentals rather than outsized volatility. Neighborhood occupancy is near national medians, suggesting predictable leasing conditions without relying on aggressive concessions, based on WDSuite’s CRE market data.
Everyday conveniences are accessible, with restaurants and grocery options comparing favorably at the national level (restaurants and pharmacies are in the top quartile nationally, and groceries test well above average). Within the New York–Jersey City–White Plains metro, the area’s overall amenity rank is below the metro median among 889 neighborhoods, indicating investors should underwrite more to necessity retail than to destination retail.
Tenure data indicates a more ownership-oriented area: within a 3-mile radius, roughly one-fifth of housing units are renter-occupied. For multifamily operators, that translates to a defined—but not saturated—tenant pool, favoring retention and measured absorption over rapid lease-up. Elevated home values relative to incomes locally tend to reinforce reliance on rental options, which can support pricing power and stabilize occupancy.
Demographics within a 3-mile radius show modest recent population growth and a projected increase in households over the next five years, expanding the local renter pool. According to commercial real estate analysis from WDSuite, this forward drift in households, coupled with rising median incomes, supports sustained demand for well-managed, professionally maintained rentals.
Safety signals are mixed and should be underwritten thoughtfully. Relative to the New York–Jersey City–White Plains metro, the neighborhood falls on the higher-crime end (ranked 137 out of 889 metro neighborhoods, where lower ranks indicate higher crime). Nationally, violent and property offense measures track below median safety benchmarks, but recent year-over-year declines are notable.
Trend-wise, both violent and property offenses have moved lower over the last year, with improvement pacing competitively versus national peers. For investors, this trajectory supports a prudent but constructive view: incorporate appropriate security measures and insurance assumptions, while recognizing the potential for continued stabilization if these trends persist.
Proximity to regional employers supports a steady commuting renter base, led by food distribution, pharmaceuticals, parcel logistics, and beverage companies within a 6–12 mile radius.
- US Foods — food distribution (5.6 miles)
- Performance Food Group — food distribution (8.5 miles)
- Merck — pharmaceuticals (10.6 miles) — HQ
- FedEx SmartPost — parcel logistics (11.1 miles)
- Dr Pepper Snapple Group — beverages (12.1 miles)
37 Petrus Ave offers a 27-unit footprint in a fundamentally steady Staten Island submarket. Neighborhood occupancy hovers around national medians while the 3-mile area skews ownership-heavy, implying a defined renter base that can support stable lease rolls rather than rapid turnover. Elevated home values and rising incomes reinforce reliance on rental housing, which can aid pricing power and retention.
Built in 1991, the asset is newer than the neighborhood’s average vintage, providing relative competitiveness against older stock while leaving room for targeted modernization of finishes and systems. Household counts within 3 miles are projected to rise, expanding the tenant base and supporting absorption and occupancy. These dynamics, based on commercial real estate analysis from WDSuite, point to durable demand with measured growth potential.
- Steady neighborhood occupancy with ownership-leaning tenure supports lease stability and retention.
- 1991 vintage offers competitive positioning versus older local stock with value-add upgrade potential.
- Expanding 3-mile household base and rising incomes point to a growing renter pool and sustained demand.
- Nearby regional employers underpin commuter demand and reduce reliance on any single industry.
- Risks: safety metrics lag stronger neighborhoods and amenities skew to necessity retail; underwrite for security, insurance, and measured lease-up.