| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 39 Hudson Ter, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1998 |
| Units | 49 |
| Transaction Date | 2012-12-31 |
| Transaction Price | $7,600,000 |
| Buyer | HUDSON TERRACE HOUSING DEVELOPMENT FUND |
| Seller | TERRACE HOUSING DEVELOPMENT FUND CO INC |
39 Hudson Ter Yonkers Multifamily Investment
Neighborhood occupancy in Yonkers has held around the mid‑90s, supporting stable tenant retention and consistent leasing, according to WDSuite’s CRE market data. Positioned near the Hudson River and major Westchester employment nodes, the asset benefits from durable renter demand and a broad commuter base.
Located in Yonkers’ Urban Core, the property sits in a neighborhood that trends above metro median for occupancy and stability, with neighborhood occupancy near 96% and a national standing in the top quartile. While on-the-ground dining options within the immediate neighborhood are thin, residents have practical daily conveniences nearby, including parks (top decile nationally) and solid childcare density (also top decile nationally), per WDSuite’s CRE market data.
The neighborhood ranks 275 out of 889 metro neighborhoods for occupancy (top quartile nationally by percentile) and posts exceptionally strong NOI per unit outcomes at the neighborhood level (99th percentile nationally). These are neighborhood metrics, not property performance, but they underscore durable renter demand drivers in this part of Westchester relative to national CRE trends.
Median home values in the neighborhood sit in the low‑80s national percentile, reflecting a high‑cost ownership market for Westchester. For multifamily investors, elevated ownership costs tend to sustain reliance on rental housing and can support pricing power when paired with prudent lease management. Rent-to-income at the neighborhood level is in a favorable national percentile, indicating manageable affordability pressure that can aid retention.
Vintage context matters here: the average neighborhood building stock skews older (around 1940), whereas this asset was built in 1998. Newer construction than the neighborhood norm can be competitively positioned versus older inventory, while still leaving room for targeted modernization to meet current renter expectations.
Within a 3‑mile radius, demographics show population growth over the last five years with a further mid‑teens increase forecast, alongside rising household counts and incomes. This points to a larger tenant base and continued renter pool expansion that supports occupancy stability and leasing velocity over the medium term.
Safety indicators show a mixed but improving profile. Nationally, the neighborhood benchmarks in a stronger position (around the mid‑70s percentile for overall crime safety), yet within the New York–Jersey City–White Plains metro it ranks 33 out of 889, which signals higher crime relative to its metro peers. Year over year, both property and violent offense estimates have declined meaningfully, which supports a constructive trend. These are neighborhood‑level indicators and not property‑specific.
Nearby corporate offices across Westchester and the lower Hudson Valley provide a diversified white‑collar employment base that supports renter demand and commute convenience, including Cognizant Technology Solutions, Citizens Bank mortgage operations, Prudential Financial, Mastercard, and PepsiCo.
- Cognizant Technology Solutions — IT services (7.9 miles) — HQ
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (9.8 miles)
- Prudential Financial — insurance & asset management (9.9 miles)
- Mastercard — payments technology (10.8 miles) — HQ
- PepsiCo — consumer products (11.4 miles)
39 Hudson Ter offers investors a 49‑unit asset built in 1998, giving it a competitive edge versus the neighborhood’s older housing stock while preserving potential for selective value‑add updates. Neighborhood occupancy runs in the mid‑90s and ranks in the top quartile nationally, supporting steady leasing and retention. Elevated home values in Westchester help reinforce rental demand, and neighborhood rent‑to‑income metrics indicate manageable affordability pressure that can support stable cash flows with prudent pricing. According to CRE market data from WDSuite, the surrounding neighborhood also scores strongly on NOI per unit nationally, signaling durable local demand drivers at the neighborhood level.
Within a 3‑mile radius, recent population and household growth—along with rising incomes and a forecast for further expansion—point to a larger tenant base over the medium term. While immediate dining and pharmacy options are limited within the neighborhood, strong park access and childcare density enhance day‑to‑day livability. Safety trends show national‑level resilience with local metro comparatives worth monitoring; investors should underwrite accordingly and leverage modern building vintage to compete effectively against older supply.
- 1998 construction offers competitive positioning versus older neighborhood stock, with targeted modernization upside
- Top‑quartile neighborhood occupancy supports stable tenant retention and consistent leasing
- High‑cost ownership context in Westchester reinforces reliance on rental housing and supports pricing power
- 3‑mile growth in population, households, and incomes expands the renter base and supports demand
- Risks: thinner on‑block amenities and mixed metro‑relative safety mean careful underwriting and asset management are important