All Forum Posts by: Yveson Laurore

Being near a correctional facility isn’t necessarily a deal breaker, but it can affect perception. Some tenants may not care, especially if the building itself is well-kept, rents are competitive, and the location is walkable and transit-accessible (which Washington Heights usually is). But others might hesitate purely based on stigma—even if it’s a low-risk, minimum-security site.

From an investor’s point of view, the key is to figure out how much that stigma impacts demand in that specific pocket. You want to look at days on market for nearby rentals, how quickly units turn over, and whether rents are below market to compensate. If nearby comps are performing just fine and tenants barely mention the facility, it’s probably not a huge issue. But if you see higher vacancy or need to offer big move-in concessions, that’s something to factor into your underwriting.

Resale could be a little slower depending on who your buyer is. Institutional buyers or out-of-towners might hesitate. Locals or experienced investors who know the neighborhood might see it as just another tradeoff like being near the train or above a bar. So yeah, I’d say it’s not a hard no—it’s more of a discount lever and a question of who your future buyer might be.

Really appreciate your thoughtful take on this—it’s exactly the kind of balanced perspective I was hoping to get. Totally agree that being near a correctional facility isn’t an automatic deal breaker, but more of a factor to weigh in the broader context of tenant demand and resale dynamics.

You made a great point about using it as a “discount lever” depending on how the local market responds. I’ll dig into comps, vacancy rates, and turnover nearby to get a better sense of how much (if at all) this impacts performance.

Thanks again for the insight—super helpful. If you’ve had experience with something similar, I’d love to hear how it played out for you.

0 Votes

New York City, New York

Thanks for your thoughtful input—I really appreciate your perspective. I agree that in a high-density market like NYC, quality and pricing often outweigh location nuances. I'm aiming to deliver a clean, well-managed building with long-term value, and your comment reinforces that focusing on tenant experience can offset potential concerns like proximity to a correctional facility. Thanks again for sharing your insight—it helps clarify my approach moving forward.

0 Votes

New York City, New York

Quote from @Michael K Gallagher:

@Yveson Laurore I'm not operating in this market, so what I'm about to say could be totally wrong but if this is actually in NYC, that's a pretty densely populated area I'd think anyone in that general area would be "OK" living in the vicinity of the correction center. how it would impact the bottom line I couldn't speak to, but if you were offering a high quality product at a reasonable price its likely to outweigh the proximity in my mind.

0 Votes

New York City, New York

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.

Have you ever owned or evaluated a property near a correctional facility? What were your takeaways?
Did the proximity impact tenant interest, rent collection, or occupancy rates?
How would this influence resale and long-term value from your experience?
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.

1 Vote

New York City, New York

All Forum Posts by: Yveson Laurore

Yveson Laurore has started 1 posts and replied 4 times.

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