| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 56th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4029 Long Beach Rd, Island Park, NY, 11558, US |
| Region / Metro | Island Park |
| Year of Construction | 1975 |
| Units | 54 |
| Transaction Date | 2011-04-08 |
| Transaction Price | $5,620,000 |
| Buyer | AMSN HOUSING DEVELOPMENT FUND COMPANY |
| Seller | PSCH INC |
4029 Long Beach Rd, Island Park Multifamily Investment
High neighborhood occupancy and a high-cost ownership landscape point to durable renter demand, according to WDSuite’s CRE market data. Focus is on leasing stability supported by strong local incomes and amenity access.
Island Park’s neighborhood ranks in the top quartile among 608 Nassau–Suffolk metro neighborhoods, signaling competitive fundamentals for multifamily investors. Parks and daily-needs retail test above national medians, with grocery and park access both tracking in the upper national percentiles, which supports resident convenience and retention.
Neighborhood occupancy is strong, with the area posting a high occupancy rate relative to national norms; investors should view this as supportive of cash flow stability rather than a guarantee of future performance. The renter-occupied share is modest (around one-fifth of housing units), implying a smaller but typically stable tenant base anchored by local households.
Elevated home values and above-average household incomes position this as a high-cost ownership market; that dynamic can sustain reliance on rental housing and aid pricing power and lease retention. Median contract rents benchmark high versus national levels, reinforcing the need for product quality and management execution to meet expectations.
School ratings in the neighborhood trail national averages, which may matter for family-oriented renters; however, adult-oriented renter segments often prioritize commute convenience and amenities. Vintage in the area skews mid-century; with a 1975 construction year, the subject asset is somewhat newer than much of the nearby stock, supporting competitive positioning while still warranting ongoing system upgrades and selective renovations over hold.
Compared with neighborhoods nationwide, safety indicators are favorable, landing in the top quartile nationally. Property and violent offense benchmarks both sit in high national percentiles, and recent year-over-year trends show improvement, which can support renter retention and reduce operating disruptions.
Within the Nassau–Suffolk metro context, measures can vary by metric and subarea, so property-level security and lighting should remain part of standard operating plans. Overall, the national positioning suggests a relatively low-risk backdrop versus many U.S. neighborhoods.
The employment base spans insurance, healthcare distribution, airlines, pharmaceuticals, and telecommunications, supporting a diversified renter pool and commute convenience for workforce and professional tenants. The following nearby employers anchor regional demand:
- Prudential — insurance (11.4 miles)
- Henry Schein — healthcare distribution (16.2 miles) — HQ
- JetBlue Airways — airline (18.0 miles) — HQ
- Pfizer — pharmaceuticals (19.5 miles) — HQ
- Verizon Communications — telecommunications (19.6 miles)
The investment case centers on leasing resilience supported by high neighborhood occupancy, a high-cost ownership market, and strong household incomes. Based on CRE market data from WDSuite, the neighborhood ranks competitively within the Nassau–Suffolk metro and trends above national medians for amenities, helping sustain renter demand and retention.
Built in 1975, the asset is somewhat newer than much of the surrounding mid-century stock, which helps competitive positioning versus older comparables while still calling for ongoing capital planning for building systems and selective value-add upgrades. The renter-occupied share is modest locally, suggesting a narrower but stable tenant base that can support occupancy when paired with quality operations. Lower school ratings are a consideration for family renters and should be reflected in targeting and amenity programming.
- High neighborhood occupancy and strong incomes support rent roll durability
- High-cost ownership market reinforces reliance on rental housing and pricing power
- 1975 vintage offers relative competitiveness with value-add and systems upgrades
- Amenity access above national medians aids retention and leasing velocity
- Risks: modest renter-occupied share and lower school ratings may narrow target renter segments