| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 90th | Best |
| Demographics | 2nd | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26 Koritz Way, Spring Valley, NY, 10977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2002 |
| Units | 22 |
| Transaction Date | 2010-01-25 |
| Transaction Price | $150,000 |
| Buyer | WOLODARSKY EFRAIM |
| Seller | FISCHEL ARON |
26 Koritz Way Spring Valley Multifamily Investment
Neighborhood occupancy remains high and elevated ownership costs point to durable renter demand in this Spring Valley pocket, according to WDSuite’s CRE market data.
Located in Spring Valley within the New York–Jersey City–White Plains metro, the neighborhood shows solid renter fundamentals for a 22-unit asset. Neighborhood occupancy is reported at 98.3% and ranks 99 out of 889 metro neighborhoods, which is competitive among New York–Jersey City–White Plains neighborhoods and well above national norms based on CRE market data from WDSuite. Note this occupancy figure reflects the neighborhood, not the property.
Daily-needs access is comparatively strong: cafés and pharmacies score in the higher national percentiles (93rd for both categories), and grocery density sits around the 80th percentile nationwide. Park and formal childcare densities are limited locally, so resident appeal will lean more on proximity to retail and services than on green space or childcare offerings.
Relative costs support the renter pool. Neighborhood home values trend high (89th percentile nationally), which tends to sustain reliance on multifamily housing and can aid lease retention. Median contract rents in the neighborhood sit around the 71st national percentile, suggesting pricing power may be available, but investors should manage affordability pressure and renewal strategy carefully where rent-to-income is elevated.
Within a 3-mile radius, demographics indicate a growing tenant base: population rose over the last five years with additional growth projected, households increased and are forecast to expand further, and the renter-occupied share is approximately 45.5% of housing units. This points to a sizable and expanding renter pool that can support occupancy stability and absorption for comparable multifamily assets.
Asset vintage matters here: the property was built in 2002, while the broader neighborhood skews newer on average (2006). That age gap suggests potential value-add through selective renovations and capital planning to stay competitive versus younger stock.
Comparable crime metrics for this specific neighborhood were not available in WDSuite at the time of publication. Investors typically benchmark safety by reviewing multi-year trends and comparing neighborhood-level data to metro averages; local public data and on-the-ground diligence can provide additional context around patterns and perceptions.
Proximity to regional corporate employers supports commuter convenience and a diversified renter base tied to retail, insurance, consumer goods, medical technology, and legacy retail operations.
- Ascena Retail Group — apparel retail HQ (8.7 miles) — HQ
- Prudential Financial — financial services/insurance offices (11.9 miles)
- PepsiCo — consumer beverages/CPG offices (12.1 miles)
- Becton Dickinson — medical technology — HQ (12.7 miles)
- Toys "R" Us — retail corporate offices (16.2 miles) — HQ
26 Koritz Way offers exposure to a neighborhood with historically strong renter demand and tight occupancy. According to commercial real estate analysis from WDSuite, neighborhood occupancy is competitive versus metro peers and well above national norms, while high ownership costs in the area reinforce reliance on multifamily housing and can support pricing power. The 2002 construction creates a straightforward value-add path through unit and system updates, positioning the asset to compete against a local stock that trends slightly newer.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, expanding the tenant base and supporting leasing stability. Amenities skew toward daily-needs retail and services, aiding resident convenience, though limited parks and childcare density mean the appeal will rely more on access to retail corridors and regional job centers.
- Tight neighborhood occupancy and durable renter demand support income stability
- High local home values reinforce multifamily reliance and potential pricing power
- 2002 vintage enables targeted value-add and capex planning to compete with newer stock
- Expanding 3-mile renter pool underpins absorption and renewal prospects
- Risks: affordability pressure (manage renewals carefully) and limited park/childcare density