| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 28th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 899 Broadway, Westbury, NY, 11590, US |
| Region / Metro | Westbury |
| Year of Construction | 1986 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
899 Broadway Westbury NY Multifamily Opportunity
Situated in Nassau County’s Urban Core, the neighborhood shows high occupancy and a sizable renter base, according to CRE market data from WDSuite. Stable renter demand and strong household incomes support cash flow durability relative to broader Long Island.
Livability fundamentals in Westbury favor daily convenience for residents. Grocery, pharmacy, and park access score in the upper national percentiles, while on-block cafe and restaurant densities are limited; this typically points to errand efficiency with dining variety concentrated in nearby corridors. School quality indicators for the immediate neighborhood are mixed and warrant property-specific diligence, so marketing often leans on commute convenience and daily-needs access rather than school differentiation.
Multifamily demand indicators are constructive. Neighborhood occupancy is elevated (top quartile nationally), and the share of renter-occupied housing is also in the top quartile among 608 metro neighborhoods — a signal of a durable tenant base rather than a transient renter pocket. Median contract rents sit in the higher national percentiles with notable five-year growth, per WDSuite, reinforcing positioning for stabilized assets that manage renewals thoughtfully.
Within a 3-mile radius, demographics show a large, affluent consumer base with steady population and an increase in households, implying smaller average household sizes and a broader renter pool over time. This expansion supports occupancy stability and leasing velocity without requiring deep concessions, especially for well-managed garden and mid-rise product.
Ownership costs are elevated relative to national norms, and that high-cost ownership market tends to reinforce reliance on rental housing. For investors, this typically translates to deeper demand, stronger lease retention, and more consistent pricing power for quality units that are appropriately maintained and marketed.
Crime indicators compare favorably at the national level, landing in the top quartile nationwide, with recent year-over-year declines in both violent and property offenses according to WDSuite’s CRE market data. Within the Nassau County–Suffolk County metro context, readings can vary by block and asset type, so prudent operators typically budget for standard security measures and lighting upgrades during common-area improvements.
- Citizens Bank Home Mortgages (Fernando Monasterio) — financial services/mortgage (6.7 miles)
- Henry Schein — healthcare products (7.9 miles) — HQ
- Prudential — financial services (16.2 miles)
- W.R. Berkley — insurance (18.1 miles) — HQ
- XPO Logistics — logistics (18.4 miles) — HQ
899 Broadway totals 90 units built in 1986, newer than the neighborhood’s average vintage. That positioning is competitive versus older housing stock, though systems are reaching ages where targeted modernization (exteriors, MEPs, interiors) can capture value-add upside and support renewals. According to CRE market data from WDSuite, the neighborhood maintains high occupancy with rents in upper national percentiles, while elevated ownership costs and strong household incomes sustain depth in the renter pool.
Demographic trends within a 3-mile radius point to steady population with a projected increase in households and slightly smaller household sizes, which typically broadens the tenant base and supports occupancy stability. Limited on-block dining density is a minor drawback offset by strong daily-needs access (groceries, pharmacies, parks) and proximity to a diverse employment base across financial services, healthcare, insurance, and logistics.
- Newer 1986 vintage versus local average, with clear renovation and repositioning pathways
- High neighborhood occupancy and upper-percentile rents support income stability
- Affluent, expanding 3-mile renter pool underpins demand and renewal potential
- Elevated ownership costs reinforce reliance on rentals, aiding retention
- Risk: limited immediate dining density and typical capex needs for systems as the asset ages