| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Poor |
| Demographics | 34th | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Willow Rd W, Staten Island, NY, 10303, US |
| Region / Metro | Staten Island |
| Year of Construction | 1973 |
| Units | 54 |
| Transaction Date | 2016-07-18 |
| Transaction Price | $7,200,000 |
| Buyer | WILLOW FLATS LLC |
| Seller | PEAKMONT HOLDINGS CORP |
40 Willow Rd W Staten Island Multifamily Opportunity
Neighborhood dynamics point to durable renter demand supported by a high-cost ownership market and steady household growth within a 3-mile radius, according to WDSuite’s CRE market data. The investment case centers on occupancy stability and tenant retention rather than outsized rent swings.
This Urban Core neighborhood in Staten Island offers day-to-day conveniences and workforce access, with restaurants comparatively dense (top decile nationally) and pharmacies readily available. Childcare coverage also rates strong, while groceries and cafes are less concentrated—an operational consideration for tenants who may rely on nearby arterials rather than on-foot errands.
Relative to the New York–Jersey City–White Plains metro, the neighborhood s overall rank is below the metro median (810 out of 889 neighborhoods), but investors should note that median contract rents trend above the national midpoint and have advanced over the last five years based on WDSuite data. Neighborhood occupancy has been broadly steady in recent years, supporting predictable cash flow management even if leasing velocity may be more seasonal than core-Manhattan submarkets.
From a tenure standpoint, about one-third of housing units are renter-occupied, indicating a meaningful, though not dominant, renter concentration that helps sustain the multifamily tenant base. In the 3-mile radius, population and household counts have increased in recent years and are expected to continue growing by 2028, pointing to a larger tenant pool and support for occupancy stability.
Ownership costs are elevated versus national norms (home values rank in the higher national percentiles), which typically sustains reliance on rental housing and can aid lease retention. Value-to-income metrics similarly indicate a high-cost ownership market, which historically supports multifamily demand depth and pricing discipline for well-managed assets.
Vintage context: the property s 1974 construction is newer than the neighborhood s average vintage. That positioning can be competitively advantageous versus older stock, though investors should still plan for targeted system upgrades or modernization to meet current renter expectations.
Safety trends are mixed. Within the New York–Jersey City–White Plains metro, the neighborhood ranks 210 out of 889 on crime, which is competitive among metro neighborhoods. Nationally, however, safety metrics sit below average, reflecting higher reported offense rates than many neighborhoods across the country.
Recent year-over-year movement is favorable: both violent and property offense estimates decreased at a pace that tracks in the upper tiers of improvement nationally. For investors, this suggests directional progress even as prudent security measures and attentive property management remain important underwriting considerations.
Proximity to a diversified employment base supports renter demand and commute convenience, notably across food distribution, pharmaceuticals, financial services, beverages, and utilities. The employers below represent nearby drivers of daily-worker traffic and stable white-collar payrolls.
- Performance Food Group — foodservice distribution (3.2 miles)
- Merck — pharmaceuticals (7.4 miles) — HQ
- Prudential Financial — financial services (7.6 miles) — HQ
- Dr Pepper Snapple Group — beverages (7.6 miles)
- Public Service Enterprise Group — utility (7.6 miles) — HQ
At 54 units with a 1974 vintage, the asset sits slightly newer than the neighborhood s average stock, offering a platform for selective value-add to improve competitive positioning against older buildings. Neighborhood occupancy has been generally stable, and 3-mile demographics indicate population and household growth ahead, supporting tenant-base expansion and lease retention. Elevated ownership costs locally further reinforce the role of rentals in the housing mix, which can aid revenue durability, based on commercial real estate analysis from WDSuite.
Operationally, amenity coverage favors restaurants, pharmacies, and childcare, with fewer groceries and cafes in immediate proximity—factors to consider in marketing and resident services. Safety metrics, while improving year over year, still trail national norms, making proactive management and lighting/camera investments prudent planning items in underwriting.
- Newer-than-neighborhood vintage (1974) with clear value-add and modernization pathways
- High-cost ownership market supports sustained renter demand and lease retention
- 3-mile population and household growth expected to expand the renter pool by 2028
- Amenity strengths in dining, pharmacies, and childcare; plan around limited grocery/cafe density
- Risk: Safety levels below national averages despite recent improvement; budget for security and attentive management