| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 71st | Good |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 998 Stewart Ave, Garden City, NY, 11530, US |
| Region / Metro | Garden City |
| Year of Construction | 2012 |
| Units | 40 |
| Transaction Date | 2011-10-14 |
| Transaction Price | $7,828,000 |
| Buyer | JUANITA CONSTRUCTION INC |
| Seller | GARDEN CITY SF LLC |
998 Stewart Ave, Garden City NY Multifamily Investment
2012 vintage in an amenity-rich, high-income inner suburb where neighborhood occupancy has been steady, according to WDSuite’s CRE market data.
Garden City’s inner-suburb location combines daily convenience with depth of demand drivers. Restaurant and cafe density ranks in the top percentile nationally, and grocery and pharmacy access are also strong. This concentration of amenities supports leasing and retention for working professionals and households.
At the neighborhood level, A+ overall ratings and strong housing fundamentals indicate competitive positioning among Nassau County–Suffolk County neighborhoods. Neighborhood NOI per unit performance sits in the top percentile nationally, suggesting operators in this area have historically achieved strong income relative to peer locations, based on CRE market data from WDSuite.
The resident base skews high income relative to national norms, and median home values are elevated for the region. In practice, a high-cost ownership market tends to reinforce reliance on multifamily housing, while a neighborhood rent-to-income ratio near the national middle implies manageable affordability pressure that can support lease retention and disciplined pricing.
Tenure patterns show a smaller renter-occupied share at the neighborhood level (around three in ten units), which concentrates demand among households who prefer or need rental options; for investors, that often translates to a defined but stable tenant base. Demographic statistics aggregated within a 3-mile radius point to recent population and household growth, with forecasts indicating additional household gains and gradually smaller average household sizes — factors that typically expand the local renter pool and support occupancy stability over time.
Vintage matters: the property’s 2012 construction is newer than the neighborhood’s typical 1990s housing stock, offering relative competitiveness versus older buildings. Investors should still plan for mid-life system updates and modernization during the hold to sustain positioning against newer deliveries.
Neighborhood safety indicators compare favorably to national benchmarks. Property offense measures are in a high national safety percentile, and recent trends show notable declines in property incidents year over year, according to WDSuite’s CRE market data.
Violent offense measures also trend safer than many U.S. neighborhoods, though the most recent year shows a modest uptick. For investors, the broader pattern supports leasing stability, with standard practice being to monitor submarket trends and apply typical site-level security and lighting standards.
Proximity to a diversified white-collar employment base supports workforce housing demand and commute convenience, including financial services, healthcare products, and airlines corporate roles listed below.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services (8.6 miles)
- Henry Schein — healthcare products (9.5 miles) — HQ
- Prudential — financial services (14.3 miles)
- Jetblue Airways — airline corporate offices (18.1 miles) — HQ
- W.R. Berkley — insurance (19.7 miles) — HQ
998 Stewart Ave offers a newer-build (2012) asset in a high-amenity, high-income Nassau County location where neighborhood-level occupancy has been steady and amenity density sits in the top percentile nationally. The property’s vintage is competitive versus the area’s older 1990s stock, which can reduce near-term capital needs while leaving room for selective upgrades to bolster rent positioning.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, with smaller average household sizes indicating more households relative to residents — dynamics that typically expand the renter pool and support occupancy stability. Elevated home values and a rent-to-income profile near the national middle suggest balanced affordability, helping sustain retention without relying on aggressive concessions, based on commercial real estate analysis from WDSuite.
- 2012 construction offers competitive positioning against older local stock with potential for targeted modernization
- Amenity-rich inner suburb with top-percentile dining and grocery access supports leasing and retention
- High-income area and elevated ownership costs reinforce multifamily demand and pricing discipline
- 3-mile demographic growth and smaller household sizes point to a larger renter pool over time
- Risks: smaller renter-occupied share and below-median school ratings can narrow the tenant base; monitor occupancy trends and invest in unit quality