| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 87th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 265 Great Neck Rd, Great Neck, NY, 11021, US |
| Region / Metro | Great Neck |
| Year of Construction | 2012 |
| Units | 93 |
| Transaction Date | 2010-09-30 |
| Transaction Price | $6,300,000 |
| Buyer | PLAZA LANDMARK LLC |
| Seller | 245 GREAT NECK ROAD LLC |
265 Great Neck Rd Great Neck Multifamily Asset
2012-vintage, 93-unit property positioned in a high-amenity Urban Core where neighborhood occupancy trends are stable and the renter-occupied share supports depth of demand, according to WDSuite’s CRE market data. Newer construction than the local average suggests competitive positioning versus older stock and fewer near-term capital needs.
Great Neck’s Urban Core setting ranks among the stronger sub-areas of the Nassau–Suffolk metro, with the neighborhood rated A+ and positioned near the top of 608 metro neighborhoods by composite factors. Dining and daily-needs access are a core strength: the area ranks 1st of 608 for both restaurants and cafés per square mile and sits in the 99th–100th national percentiles, which supports leasing velocity and retention for multifamily operators. By contrast, park and childcare density track low within the metro, an operational consideration for family-oriented product.
Neighborhood occupancy is 94.8% with a modest five-year uptick, signaling durable demand and above-median performance nationally. Renter concentration is approximately 44% of housing units being renter-occupied (84th national percentile), indicating a meaningful tenant base for apartments without overreliance on any single cohort.
Within a 3-mile radius, population has grown modestly over the past five years and is projected to expand further, with households increasing and average household size trending lower. This combination typically enlarges the renter pool and supports occupancy stability and leasing depth. Income levels in the 3-mile area are high and rising, while the neighborhood’s rent-to-income ratio of roughly 0.28 points to manageable affordability pressure that can aid renewal performance and pricing discipline.
Home values are elevated versus many U.S. neighborhoods (upper-quartile nationally), reinforcing reliance on rental housing for many households and supporting sustained multifamily demand. For investors conducting multifamily property research, the property’s 2012 vintage—newer than the neighborhood’s average vintage of 1964—offers competitive appeal versus older inventory while still warranting routine system upgrades over time.
Comparable crime statistics at the neighborhood level are not available in this WDSuite extract. Investors typically benchmark safety using county and municipal sources and observe trend direction around the property rather than block-level snapshots. As with any dense Urban Core location, standard diligence—daypart visits, management interviews, and review of official reports—helps contextualize operating risk and tenant retention considerations.
Proximity to a diversified employment base supports renter demand and commute convenience, led by financial services, airlines, hospitality, defense/aerospace, and consumer brands.
- Prudential — financial services (10.1 miles)
- Jetblue Airways — airline HQ & operations (11.0 miles) — HQ
- Loews — hospitality & holdings (12.5 miles) — HQ
- Lockheed Martin — defense & aerospace offices (12.5 miles)
- Ralph Lauren — apparel & retail (12.6 miles) — HQ
Built in 2012 with 93 units, 265 Great Neck Rd offers newer construction relative to the neighborhood’s older housing stock, giving it competitive positioning in a high-amenity Urban Core where restaurants, cafés, pharmacies, and grocery access rank among the metro’s best. Neighborhood occupancy is in the mid-90s with slight gains over five years, and the renter-occupied share near the mid-40s indicates a sizable tenant base. Within a 3-mile radius, modest population growth, rising incomes, and a projected increase in household counts—alongside smaller household sizes—suggest a larger renter pool and supportive leasing fundamentals. Elevated ownership costs in the area tend to reinforce multifamily demand and can help sustain pricing power without overextending affordability; based on CRE market data from WDSuite, the neighborhood’s rent-to-income dynamics remain manageable.
- Newer 2012 vintage relative to local stock supports competitive positioning with moderate near-term capital needs.
- High-amenity Urban Core with top-ranked dining and daily-needs access underpins leasing and retention.
- Stable neighborhood occupancy and a meaningful renter-occupied share indicate depth of demand.
- 3-mile demographics show population growth, household expansion, and rising incomes, supporting rent durability.
- Risks: limited parks/childcare density in the neighborhood, standard Urban Core safety diligence, and system aging over the hold period.