| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 455 N Broadway, Yonkers, NY, 10701, US |
| Region / Metro | Yonkers |
| Year of Construction | 1980 |
| Units | 87 |
| Transaction Date | 2008-06-25 |
| Transaction Price | $9,285,000 |
| Buyer | GAZI REALTY LLC |
| Seller | CONCOURSE REALTY ASSOCIATES II LP |
455 N Broadway, Yonkers Multifamily Investment
Neighborhood occupancy is resilient with steady renter demand, supported by a high-cost ownership market and competitive incomes, according to WDSuite’s CRE market data. For investors, this points to durable leasing fundamentals with room for selective value-add at this address in Yonkers, NY.
Situated in Yonkers’ urban core, the area around 455 N Broadway offers stable renter demand and above-metro occupancy conditions. Neighborhood occupancy is in the upper range compared with similar areas across the U.S., supporting retention and pricing discipline for well-managed assets. Median contract rents in the neighborhood trend on the higher side nationally, which aligns with stronger local incomes and helps sustain collections.
The renter-occupied share of housing units within a 3-mile radius is substantial, indicating a deep tenant base for multifamily. Over the past five years, population and household counts in this 3-mile area have increased, and projections indicate continued population growth and more households over the next five years. For investors, that points to a larger tenant pool and support for occupancy stability.
Local amenity access is mixed: grocery and park access rank stronger nationally, while dining and pharmacy density are thinner in the immediate neighborhood. This dynamic tends to favor properties with onsite or nearby convenience features and can help reduce turnover by meeting daily needs. Average school rating signals are limited at the neighborhood level; family renters may evaluate options across nearby districts.
Home values in the neighborhood sit in the higher range nationally, reflecting a high-cost ownership market that can reinforce reliance on rental housing. Rent-to-income levels trend favorable from an investor standpoint, which can support lease retention and measured rent growth. The building’s 1980 vintage is newer than the neighborhood’s older housing stock, offering relative competitiveness versus prewar assets while still warranting capital planning for aging systems or targeted modernization to capture value-add upside.
Safety indicators for the neighborhood are comparatively favorable, with overall crime measures performing above the national median, according to WDSuite. Both violent and property offense estimates sit in higher national percentiles (safer relative to many U.S. neighborhoods), and year-over-year trends show declines that rank in the upper quartile nationwide for improvement. Conditions can vary by block and over time, so investors typically underwrite to submarket-level trends rather than single-street readings.
The employment base features technology and financial services anchors within commutable distance, supporting workforce housing demand and lease stability. Notable nearby employers include Cognizant Technology Solutions, Citizens Bank home mortgages, Prudential Financial, Mastercard, and PepsiCo.
- Cognizant Technology Solutions — technology services (7.98 miles) — HQ
- Fernando DaCunha - Citizens Bank, Home Mortgages — financial services (9.71 miles)
- Prudential Financial — financial services (9.94 miles)
- Mastercard — payments (10.76 miles) — HQ
- Pepsico — consumer goods (11.30 miles)
455 N Broadway offers scale at 87 units in a neighborhood where occupancy trends are strong and the renter base is deep. Within a 3-mile radius, population and households have grown and are projected to expand further, indicating renter pool expansion that supports leasing stability. Elevated neighborhood home values signal a high-cost ownership market, which can sustain multifamily demand and help underpin retention for well-positioned assets.
The property’s 1980 vintage is newer than much of the surrounding housing stock, providing a competitive edge versus older buildings while leaving room for targeted renovations and system updates to drive value-add returns. Based on commercial real estate analysis using WDSuite’s CRE market data, neighborhood rents skew higher nationally but remain supported by solid income levels and favorable rent-to-income dynamics.
- Occupancy strength in the neighborhood supports retention and measured pricing power.
- Growing 3-mile population and household counts indicate a larger tenant base ahead.
- High-cost ownership market reinforces reliance on rental housing and demand depth.
- 1980 vintage offers relative competitiveness vs. older stock with value-add potential through modernization.
- Risk: Limited dining/pharmacy density locally may push some convenience needs to nearby corridors; plan amenities and services accordingly.