| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 87th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38 Knightsbridge Rd, Great Neck, NY, 11021, US |
| Region / Metro | Great Neck |
| Year of Construction | 2004 |
| Units | 36 |
| Transaction Date | 2010-08-26 |
| Transaction Price | $2,600,000 |
| Buyer | LIU HUAN |
| Seller | CIOFFI GARY |
38 Knightsbridge Rd Great Neck Multifamily — 2004 Vintage, 36 Units
Neighborhood occupancy has trended steady and the area offers unusually dense daily amenities, according to WDSuite’s CRE market data. This combination supports consistent renter demand for smaller-format units in an urban-core pocket of Nassau County.
Great Neck’s Urban Core setting stands out within the Nassau County–Suffolk County metro, with the neighborhood ranked 16 out of 608 and an A+ rating. Amenity access is a clear advantage: cafés and restaurants rank 1st out of 608 neighborhoods locally and sit in the top quartile nationally, while groceries (6th of 608) and pharmacies (17th of 608) are also competitive among metro peers. This density of essentials helps sustain leasing velocity and day-to-day convenience for residents.
Renter concentration in the neighborhood is meaningful, with a sizable share of housing units renter-occupied, indicating depth in the tenant base. Neighborhood occupancy has been stable over the past five years, supporting expectations for leasing resilience through normal cycles based on CRE market data from WDSuite. Median contract rents in the neighborhood track on the higher side for the region, which aligns with the amenity profile and household income mix.
Within a 3-mile radius, demographics indicate gradual population growth over the last five years and a modest increase in households, pointing to a slightly larger renter pool over time. Forecasts call for additional household growth alongside smaller average household sizes, which can translate into more renters entering the market and reinforce occupancy stability for well-located multifamily properties.
Ownership costs in the neighborhood are elevated relative to many U.S. areas, which tends to sustain reliance on rental housing and can support pricing power and retention for competitive assets. While childcare and park counts are limited in the immediate neighborhood, core retail and service amenities are unusually dense, balancing daily convenience for a broad renter cohort.
Comparable safety data for this neighborhood are not available in WDSuite’s current release. Investors often contextualize conditions by reviewing county-level trends and municipality reports alongside property-level security features and management practices.
Proximity to established corporate employers supports a steady commuter renter base and can aid retention. Nearby firms include Prudential (insurance), JetBlue Airways (airline HQ), Loews (hospitality HQ), Lockheed Martin (defense and aerospace offices), and Ralph Lauren (apparel HQ).
- Prudential — insurance (10.3 miles)
- Jetblue Airways — airline (11.2 miles) — HQ
- Loews — hospitality (12.7 miles) — HQ
- Lockheed Martin — defense & aerospace offices (12.7 miles)
- Ralph Lauren — apparel (12.8 miles) — HQ
Built in 2004, 38 Knightsbridge Rd is newer than the neighborhood’s mid-century average, offering relative competitiveness versus older stock while leaving room for targeted system upgrades or light modernization. The surrounding neighborhood shows stable occupancy, strong amenity density, and a sizable renter-occupied share of housing units — factors that support leasing stability for smaller-unit layouts. According to CRE market data from WDSuite, neighborhood rents and incomes are comparatively high for the region, suggesting manageable affordability pressure that can aid retention.
Within a 3-mile radius, recent population growth and a projected increase in households indicate a larger tenant base ahead, with smaller average household sizes likely to put incremental demand on rental options. Elevated ownership costs versus many U.S. areas should continue to reinforce renter reliance on multifamily housing in this location.
- 2004 vintage offers competitive positioning against older local stock with selective value-add potential
- Dense café, restaurant, grocery, and pharmacy access supports leasing velocity and resident convenience
- Stable neighborhood occupancy and meaningful renter-occupied share point to demand resilience
- 3-mile forecasts show household growth and smaller household sizes, expanding the renter pool
- Risk: limited nearby parks/childcare and higher relative rents require active lease management and amenity-forward operations