| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 29th | Poor |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Prospect St, Staten Island, NY, 10304, US |
| Region / Metro | Staten Island |
| Year of Construction | 2011 |
| Units | 93 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
40 Prospect St Staten Island Multifamily Investment
Newer construction in an Urban Core pocket of Staten Island positions this asset to compete against older local stock while serving a deep renter base, according to WDSuite’s CRE market data. Elevated ownership costs in the area support durable renter demand and potential lease retention for well-operated properties.
The property sits in Staten Island’s Urban Core, where daily needs and services are close at hand. Dining and convenience access are a relative strength, with restaurants, cafes, groceries, and pharmacies testing well above national averages, per WDSuite’s CRE market data. Within the New York-Jersey City-White Plains metro, overall amenity access is competitive among 889 neighborhoods, helping support leasing velocity for workforce-oriented product.
Construction year matters here: with the neighborhood’s average vintage skewing early-20th century, a 2011 build offers a competitive edge versus older comparables while still warranting typical mid-life system updates and selective modernization over the hold. This positioning can help limit immediate capex relative to prewar stock and support renter preference for newer finishes and building systems.
Tenure patterns point to a sizeable renter-occupied share at the neighborhood level, indicating depth in the tenant base and supporting ongoing demand for multifamily units. At the same time, neighborhood occupancy trends sit below national medians, so execution around marketing, concessions, and unit readiness can be important to sustain absorption and stabilize turnover.
Demographics aggregated within a 3-mile radius show recent population and household growth, with forecasts calling for further increases and rising incomes over the next five years. This expands the prospective renter pool and supports leasing fundamentals, while elevated home values in the area indicate a high-cost ownership market that can reinforce reliance on rental housing rather than compete directly with entry-level ownership.
Schools in the immediate area rate below the national average, which may be less critical for smaller-unit mixes but remains a consideration for retention among family households. Nearby parks are limited within the neighborhood boundary; investors may weigh this against the strong food-and-service amenity density when positioning the asset.
Safety indicators for the neighborhood track below national percentiles, and investors should underwrite for appropriate property management practices and security measures. Recent year-over-year trends in both violent and property offenses show improvement, suggesting conditions are moving in a favorable direction, according to WDSuite’s CRE market data.
Within the New York-Jersey City-White Plains metro, results are mixed across nearby blocks; comparative positioning is not top quartile, but the downward trend in incident rates helps mitigate risk over time. Practical measures—lighting, access control, and community engagement—can support resident experience and retention.
Proximity to Staten Island and Lower Manhattan job centers adds depth to the renter base. Nearby employers include Dr Pepper Snapple Group, Performance Food Group, Robert Half International, S&P Global, and Guardian Life, providing a mix of corporate roles that support commute convenience and lease stability.
- Dr Pepper Snapple Group — corporate offices (4.7 miles)
- Performance Food Group — corporate offices (5.8 miles)
- Robert Half International — professional services (6.2 miles)
- S&P Global — financial information (6.2 miles) — HQ
- Guardian Life Ins. Co. of America — insurance (6.3 miles) — HQ
Built in 2011 with 93 units averaging roughly 540 square feet, the asset competes well against much older neighborhood stock while keeping an eye on mid-life capital planning. Strong amenity access and a sizable renter-occupied share underpin demand, though neighborhood occupancy trends below national medians call for disciplined leasing and retention strategies. Elevated home values in the area point to a high-cost ownership market, supporting rental reliance and pricing power for well-managed units.
Population and household growth within a 3-mile radius, coupled with rising incomes and rent levels, expand the prospective tenant base and support long-term stability. According to CRE market data from WDSuite, recent safety trends are improving, which, paired with access to diverse employment nodes, provides a constructive backdrop for steady operations while leaving room for targeted value-add upgrades.
- 2011 construction offers competitive positioning versus older local stock with manageable mid-life capex
- Strong dining, grocery, and pharmacy access supports convenience-driven renter demand
- High-cost ownership market reinforces renter reliance and potential pricing power
- 3-mile population and household growth expands the renter pool and supports occupancy stability
- Risk: neighborhood safety and below-median occupancy warrant proactive security and leasing management