| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 73rd | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9 Chelsea Pl, Great Neck, NY, 11021, US |
| Region / Metro | Great Neck |
| Year of Construction | 1985 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9 Chelsea Pl Great Neck Multifamily Opportunity
Positioned in an inner-suburban pocket of Nassau County with strong schools and high ownership costs, the property benefits from steady renter demand and balanced occupancy, according to WDSuite’s CRE market data.
Great Neck’s inner-suburban setting combines top-tier schools with solid neighborhood fundamentals that support multifamily performance. School quality is ranked 1st among 608 metro neighborhoods and sits in the top percentile nationally, a factor that can enhance family-oriented leasing and retention. Pharmacies are plentiful (high national percentile), parks are relatively accessible, and restaurants are competitive for the metro, while cafe and grocery density is limited within the immediate neighborhood, suggesting residents rely on nearby corridors for daily needs.
Neighborhood occupancy is around the metro median and has improved over the past five years, indicating stable renter demand rather than volatility. Home values are elevated and rank near the top among U.S. neighborhoods, which tends to sustain reliance on rental housing and can support pricing power for well-maintained assets without overextending affordability. Rent-to-income levels are manageable for the area, helping reduce near-term retention risk compared with more cost-burdened submarkets.
The property’s 1985 vintage is newer than the neighborhood’s older housing stock (average construction year skewing mid-20th century), offering a relative competitive edge versus prewar and early postwar assets. Investors should still plan for modernization of systems and finishes to meet current renter expectations, but the vintage positioning can reduce the scope of heavy structural CapEx compared with much older comparables.
Within a 3-mile radius, demographics show modest population growth with rising incomes and projections for a larger household base over the next five years. A gradual shift toward a higher share of renter-occupied housing in the surrounding area would expand the tenant pool and support occupancy stability for professionally managed properties.
Specific crime metrics for this neighborhood are not available in the current WDSuite dataset. Investors typically benchmark safety using Nassau County comparables and trend reviews at the submarket level, alongside customary site-level diligence such as lighting, access control, and local enforcement engagement.
Proximity to major corporate offices underpins commuter convenience and helps sustain renter demand, particularly among professionals working across finance, consumer brands, and transportation. Nearby anchors include Prudential, JetBlue Airways, Loews, Lockheed Martin, and Ralph Lauren.
- Prudential — insurance (10.2 miles)
- Jetblue Airways — airline HQ and corporate (11.0 miles) — HQ
- Loews — hospitality & holding company (12.5 miles) — HQ
- Lockheed Martin — defense & aerospace offices (12.5 miles)
- Ralph Lauren — apparel & retail HQ (12.6 miles) — HQ
9 Chelsea Pl offers exposure to a high-income Nassau County location where elevated ownership costs and top-ranked schools support steady renter demand. Neighborhood occupancy trends are around metro norms with incremental improvement, while home values sit near national highs—conditions that favor lease retention for quality multifamily assets. Based on CRE market data from WDSuite, the surrounding area shows manageable rent-to-income dynamics, which helps maintain pricing power without materially increasing turnover risk.
Built in 1985, the asset is newer than much of the neighborhood’s older stock, creating a relative competitive position while leaving room for targeted modernization to capture premium rents. Within a 3-mile radius, population and household counts are projected to grow, with a gradual increase in renter-occupied share—drivers that point to a larger tenant base and support for occupancy stability over the medium term.
- High-cost ownership market and top-rated schools reinforce sustained rental demand
- Occupancy around metro median with improving trend supports stable cash flow
- 1985 vintage is competitively newer than local stock, with value-add modernization upside
- 3-mile radius shows population and household growth, expanding the renter pool
- Risks: limited walkable retail in immediate area and a lower neighborhood renter concentration could lengthen lease-up if positioning misses target demand