| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 70th | Good |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 50 Elias Pl, Staten Island, NY, 10314, US |
| Region / Metro | Staten Island |
| Year of Construction | 1975 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
50 Elias Pl Staten Island Multifamily Investment
Staten Island s renter demand is supported by a high-cost ownership landscape and steady neighborhood occupancy, based on CRE market data from WDSuite. The asset s compact layouts can target value-seeking tenants while benefiting from broad New York metro fundamentals.
Competitive among New York Jersey City White Plains metro neighborhoods (341 of 889), the area around 50 Elias Pl combines steady occupancy with daily-needs convenience, according to WDSuite s CRE market data. Neighborhood occupancy is reported at 92% and has edged up over the past five years, which supports income stability for multifamily assets at this address rather than the property specifically.
Everyday amenities are a strength: grocery access and dining density both rank in the top quartile nationally (grocers near the 99th percentile; restaurants near the 98th percentile). By contrast, cafes and childcare options are thinner locally, which can modestly affect lifestyle positioning and should be reflected in leasing strategy.
School quality is a notable tailwind: the neighborhood s average school rating is at the top of national comparisons (100th percentile; rank 1 of 889 metro neighborhoods), which can aid retention for family-oriented renters. Within a 3-mile radius, households and population have expanded over the last five years with further growth projected, indicating a larger tenant base over time. The 3-mile area shows a renter-occupied share near four in ten today with the share expected to rise, while the immediate neighborhood reflects a lower renter concentration; together this mix suggests depth for multifamily demand with some owner-occupied stability nearby.
The asset s 1975 vintage is newer than the neighborhood s older housing stock (average construction year 1948). That relative youth can be competitive against pre-war product; however, systems are still mid- to late-life, so targeted modernization or value-add upgrades may enhance leasing and rent positioning.
Safety indicators are mixed in a regional context. National percentiles point to below-average safety relative to neighborhoods nationwide, while recent trend data shows a meaningful year-over-year decline in property offenses, according to WDSuite s CRE market data. Investors should underwrite with realistic assumptions around security measures and insurance, while noting the improving trajectory in property-related incidents.
Proximity to a diverse employment base supports renter demand and commute convenience, notably in food distribution, beverages, and major corporate offices such as financial services and utilities referenced below.
- Performance Food Group food distribution (3.9 miles)
- Dr Pepper Snapple Group beverages (7.2 miles)
- Prudential Financial financial services (8.2 miles) HQ
- Public Service Enterprise Group utilities (8.2 miles) HQ
- Merck pharmaceuticals (8.4 miles) HQ
This 26-unit property with compact average unit sizes positions as attainable urban housing in a high-cost ownership market. Elevated home values at the neighborhood level reinforce renter reliance on multifamily, and neighborhood occupancy near 92% has trended slightly higher, supporting lease-up and retention. Within a 3-mile radius, population and household growth point to a larger tenant base ahead, with the renter share expected to increase a constructive setup for demand and pricing discipline.
The 1975 vintage is newer than much of the surrounding stock, offering a competitive edge versus older buildings while leaving room for targeted capital improvements to enhance NOI. According to CRE market data from WDSuite, rents in the area sit above national medians yet remain manageable relative to local incomes, suggesting room for thoughtful value-add without overextending affordability.
- High-cost ownership context supports durable renter demand and retention
- Steady neighborhood occupancy with a growing 3-mile renter pool aids leasing stability
- 1975 vintage offers value-add and modernization upside versus older local stock
- Diverse nearby employers underpin commute-driven demand
- Risks: below-average national safety indicators and mid-life systems warrant prudent underwriting