| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Poor |
| Demographics | 34th | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 371 Van Name Ave, Staten Island, NY, 10303, US |
| Region / Metro | Staten Island |
| Year of Construction | 1990 |
| Units | 28 |
| Transaction Date | 2001-09-24 |
| Transaction Price | $1,485,000 |
| Buyer | COSAJ REALTY CORP |
| Seller | VAN NAME REALTY LLC |
371 Van Name Ave, Staten Island Multifamily Investment
Stabilized renter demand is supported by a high-cost homeownership market and an expanding 3-mile renter pool, according to WDSuite s CRE market data. Neighborhood occupancy figures cited here reflect the surrounding area, not this specific property.
Built in 1990, this 28-unit asset is newer than much of the surrounding housing stock (neighborhood average skewing toward 1960s), which can help competitive positioning versus older properties while still warranting periodic system upgrades or cosmetic refreshes for leasing momentum.
Within a 3-mile radius, population and household counts are projected to increase, indicating a larger tenant base over the next several years. Median contract rents in the neighborhood have risen over the past five years, while a rent-to-income profile around the mid-teens suggests manageable affordability pressure that can support retention with disciplined lease management.
Ownership costs in the area are elevated relative to national norms, which tends to sustain reliance on rental housing and deepen the renter pipeline. Neighborhood renter-occupied share is meaningful and projected to expand modestly over the next five years (3-mile view), supporting demand for smaller units and workforce housing.
Local amenities are mixed: restaurant density is comparatively strong at the neighborhood level, and pharmacies and childcare options rank well versus national peers, while grocery and cafes are thinner in the immediate area. For investors, this mix translates into day-to-day convenience for residents with some retail categories requiring slightly longer trips. These dynamics, taken together with metro context from WDSuite s commercial real estate analysis, point to steady renter interest and pricing supported by location fundamentals.
Neighborhood safety indicators are mixed when benchmarked against the New York Jersey City White Plains metro. The area tracks below national safety percentiles overall and sits on the higher-crime side compared with many metro neighborhoods. However, recent trend data show year-over-year declines in both violent and property offenses, indicating some improvement in the near term.
Investors should underwrite with pragmatic assumptions: emphasize lighting, access control, and resident engagement, and weigh insurance and security line items accordingly. Continued improvement would support leasing stability and renewal willingness; conversely, stagnation in trend gains could pressure marketing costs and concessions.
Proximity to diversified employers supports a broad commuter renter base and can aid retention through commute convenience. Notable nearby corporate offices include Performance Food Group, Merck, Prudential Financial, Public Service Enterprise Group, and Dr Pepper Snapple Group.
- Performance Food Group distribution (3.2 miles)
- Merck pharmaceuticals (7.1 miles) HQ
- Prudential Financial financial services (7.6 miles) HQ
- Public Service Enterprise Group utilities (7.7 miles) HQ
- Dr Pepper Snapple Group beverages (8.1 miles)
The property constructed in 1990 offers a relative age advantage versus much of the surrounding 1960s-era stock, which can translate to fewer immediate capital surprises and a competitive leasing position. Neighborhood-level occupancy runs below national medians, but a growing 3-mile renter pool and elevated ownership costs support steady demand, with rent-to-income dynamics suggesting room for disciplined rent growth without materially increasing turnover risk.
According to CRE market data from WDSuite, neighborhood median rents have trended upward while home values remain high for the area, reinforcing renter reliance on multifamily housing. Forward-looking increases in households within 3 miles point to a deeper tenant base, and the nearby employer base provides diversified demand drivers. Investors should still plan for selective upgrades to sustain competitive appeal and to manage operating expenses prudently.
- 1990 vintage positions the asset competitively versus older local stock, with targeted modernization supporting rentability
- Elevated ownership costs reinforce sustained rental demand and can aid lease retention
- 3-mile population and household growth indicate renter pool expansion, supporting occupancy stability
- Diverse nearby employers broaden the commuter tenant base and support leasing durability
- Risk: neighborhood safety and below-median occupancy warrant conservative underwriting for marketing, security, and concessions