Staten Island with a current population of 485,144 is typically a bucolic bedroom community with the majority of residences comprised of privately owned one- and two-family homes. Current average home value is $556,601. Of some 167,672 households, 47.3% are over the age of 55 with an anticipated growth rate in senior ownership of .63% by 2023.
There are few if any options for Staten Island’s aging population who are looking to downsize, or who no longer can or want to manage the day-to-day maintenance of a private home and who wish to stay near their families in the community they have established a life in. With such a large customer base, it is hard to imagine that there not more available product.
There is currently only one luxury 55+…
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