| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 65th | Good |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 260 Middle Neck Rd, Great Neck, NY, 11021, US |
| Region / Metro | Great Neck |
| Year of Construction | 1998 |
| Units | 42 |
| Transaction Date | 1997-10-28 |
| Transaction Price | $110,625 |
| Buyer | OLD MILL PARTNERS LP |
| Seller | GOTTLIEB MINNIE |
260 Middle Neck Rd, Great Neck Multifamily Investment
1998-vintage suburban asset in a high-cost ownership market where upper-income households support steady renter demand, according to WDSuite’s CRE market data.
Great Neck’s Inner Suburb location combines strong daily conveniences with top-tier schools. Cafes, restaurants, parks, groceries, and pharmacies are dense for a suburban node (each testing well above national medians), while dedicated childcare density is thinner, suggesting some family-oriented services occur outside the immediate blocks.
School quality is a core draw: the neighborhood’s average school rating sits in the top percentile nationally and is ranked 1st among 608 metro neighborhoods, a differentiator for family renters and longer tenancy horizons. Amenities also score competitively versus suburbs nationwide, reinforcing lifestyle appeal that can aid retention and leasing.
Tenure patterns indicate a low-to-moderate renter concentration, implying multifamily demand is supported by a stable but selective tenant base rather than a transient one. Median home values are elevated relative to incomes, characteristic of a high-cost ownership market; for multifamily owners, this typically sustains reliance on rentals and can support pricing power when units are well-positioned. Local rent-to-income ratios are manageable by regional standards, which can mitigate near-term affordability pressure and help stabilize renewals.
Within a 3-mile radius, demographics show an upper-income profile with population and household counts increasing and projected to expand further by 2028. That larger tenant base, combined with rising incomes, points to continued depth for quality rentals. Based on multifamily property research from WDSuite, neighborhood occupancy trends trail national medians, so operators should emphasize retention and product differentiation.
Vintage context matters: with most neighborhood housing stock dating to the 1920s, a 1998 construction year positions this property as newer than much of its competitive set. Investors can leverage this relative youth for leasing competitiveness while planning for mid-life system upgrades and targeted interior refreshes to capture premium demand.
Comparable crime rankings are not published for this neighborhood in the current WDSuite release. Investors commonly triangulate public safety data at the village and county levels alongside property-level incident logs and insurance loss runs to assess trend direction and relative positioning.
A prudent approach is to benchmark against Nassau County and nearby Inner Suburb peers, evaluate daytime population and commuter patterns, and incorporate on-site measures (lighting, access control, and monitoring) into underwriting assumptions as part of risk management.
The location sits within commuting reach of diversified white-collar employers that help underpin renter demand and lease retention, including insurance, airlines, defense, hospitality, and apparel.
- Prudential — insurance (10.9 miles)
- Jetblue Airways — airline (11.2 miles) — HQ
- Loews — diversified holdings/hospitality (12.6 miles) — HQ
- Lockheed Martin — defense & aerospace offices (12.6 miles)
- Ralph Lauren — apparel (12.6 miles) — HQ
This 1998, 42-unit property offers relative newness versus an older neighborhood housing base, helping it compete for tenants seeking quality finishes and dependable systems. High home values across Great Neck’s Inner Suburb context reinforce renter reliance on multifamily, while an upper-income household mix and projected population and household growth within a 3-mile radius expand the tenant base and support occupancy stability.
According to CRE market data from WDSuite, neighborhood occupancy compares below national medians, placing a premium on retention, targeted renovations, and disciplined leasing. With amenities and schools performing at the top of the metro and nationally, thoughtful capital plans—focused on mid-life mechanicals and selective interior upgrades—can enhance competitive positioning and rent achievement without overextending risk.
- Newer 1998 vintage versus older neighborhood stock supports leasing competitiveness
- High-cost ownership market sustains renter reliance and pricing power for well-positioned units
- Upper-income, expanding 3-mile renter pool supports occupancy stability and renewal rates
- Risk: neighborhood occupancy trails national medians—emphasize retention, product quality, and leasing discipline