Apartment Building Location

[Yveson Laurore]

Hi BP community,

I'm currently analyzing a 16 units apartment building located on Amsterdam Ave, New York, NY. It appears to be a solid deal on the surface—good location in Washington Heights, strong rental potential, and solid building condition.

However, I recently found out the property is near a minimum-security correctional facility, and I’m weighing how that could impact future tenant perception, resale value, and appreciation.

Before I make an offer, I’d love to hear your insights.

1. Have you ever owned or evaluated a property near a correctional facility? What were your takeaways?
2. Did the proximity impact tenant interest, rent collection, or occupancy rates?
3. How would this influence resale and long-term value from your experience?
4. Would this be a deal breaker for you—or just another variable to price into the offer?

I’m open to all perspectives and really value your input. Thanks for your time and experience.