| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 70th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 153 E Pine St, Long Beach, NY, 11561, US |
| Region / Metro | Long Beach |
| Year of Construction | 1975 |
| Units | 44 |
| Transaction Date | 2006-12-14 |
| Transaction Price | $10,300,000 |
| Buyer | PINE TOWN HOMES LP |
| Seller | LONG BEACH TOWN HOMES LLC |
153 E Pine St, Long Beach Multifamily Opportunity
Coastal Nassau location with high household incomes and elevated home values supports durable renter demand, according to WDSuite’s CRE market data. Expect steady leasing interest driven by amenity access and commute connectivity rather than short-term momentum.
The property sits in an Urban Core pocket of Long Beach that ranks 45th out of 608 neighborhoods in the Nassau County–Suffolk County metro—top decile performance metro-wide—with amenities and income levels that are well above national norms. Restaurant and grocery density score in the 95th percentile nationally, pharmacies near the 91st, and park access around the 90th percentile, while cafes are sparse—suggesting strong daily-needs convenience with limited coffee-shop saturation (per WDSuite).
Neighborhood schools average roughly 4.0 out of 5 (84th percentile nationally), which can aid retention for family-oriented renters. Median contract rents are elevated and have risen materially over five years, reflecting the area’s income strength and coastal positioning. The neighborhood’s occupancy rate is around 90%, indicating generally steady leasing conditions versus national midpoints, based on CRE market data from WDSuite.
Tenure patterns point to a primarily owner-occupied area with a modest renter-occupied share (about one-quarter in the immediate neighborhood and roughly one-third within 3 miles). For investors, that mix implies a targeted but stable tenant base rather than deep, transient turnover—supportive of pricing power when paired with high-cost ownership alternatives.
Demographic statistics are aggregated within a 3-mile radius. Recent years show a slight increase in population with household sizes edging up, and WDSuite projects notable population and household growth over the next five years. Combined with high local incomes and elevated home values, this outlook supports continued multifamily demand via a larger tenant base and sustained reliance on rental housing where ownership costs remain high.
Vintage context: the average neighborhood construction year skews older (late 1940s). A 1975 asset is newer than much of the surrounding stock, positioning it competitively versus prewar buildings while still warranting capital planning for aging systems and potential value-add modernization.
Safety indicators compare favorably. Property crime sits in the top percentile nationally (safer than nearly all neighborhoods nationwide), and violent crime is also in the top decile, according to WDSuite. Within the Nassau County–Suffolk County metro, these results are competitive among peer neighborhoods rather than outliers at the block level.
Trend-wise, estimated property offenses declined year over year while violent incidents ticked up slightly. For investors, the mix suggests generally stable conditions with typical cyclical variability—useful for underwriting retention expectations without assuming outsized volatility.
Nearby corporate employers provide a diversified white-collar employment base that supports renter demand and commute convenience, led by insurance, healthcare distribution, airlines, pharmaceuticals, and telecommunications.
- Prudential — insurance (11.4 miles)
- Henry Schein — healthcare distribution (17.5 miles) — HQ
- JetBlue Airways — airline (18.4 miles) — HQ
- Pfizer — pharmaceuticals (19.8 miles) — HQ
- Verizon Communications — telecommunications (19.8 miles)
153 E Pine St offers exposure to a high-income, high-cost ownership submarket where elevated home values reinforce rental demand. According to CRE market data from WDSuite, the neighborhood performs in the top decile metro-wide with strong daily-needs access and school quality, while occupancy trends hover near national midpoints—supportive of stable leasing rather than oversupplied dynamics.
Built in 1975, the asset is newer than much of the local housing stock (average late 1940s), suggesting competitive positioning versus older buildings while still warranting prudent capital planning for systems and value-add upgrades. A primarily owner-occupied backdrop, rising rents, and projected population and household growth within 3 miles point to steady renter demand and retention, particularly as ownership costs remain elevated.
- High-income, high-cost coastal market supports pricing power and lease retention
- Amenity-rich location with top-quartile schools and strong daily-needs access
- 1975 vintage offers value-add potential versus older neighborhood stock
- Employment access to major corporate offices underpins leasing demand
- Risks: modest renter concentration locally and routine capex for mid-1970s systems