| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 77th | Best |
| Amenities | 81st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2014 31st St, Astoria, NY, 11105, US |
| Region / Metro | Astoria |
| Year of Construction | 2011 |
| Units | 47 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2014 31st St Astoria Multifamily Opportunity
Amenity-rich Urban Core location with deep renter demand and occupancy that has edged higher over the past five years, according to WDSuite’s CRE market data.
Astoria’s Urban Core setting offers strong day-to-day convenience for renters. Neighborhood amenities sit in the top quartile nationally, with dense grocery, pharmacy, and dining options supporting lease retention and reducing commute friction for essentials. Cafes and restaurants are especially concentrated (near the top of national distributions), which helps sustain lifestyle-driven rental demand.
The area carries an A neighborhood rating and ranks 76 out of 889 New York–Jersey City–White Plains neighborhoods, placing it firmly in the top quartile locally. For investors, that positioning signals competitive fundamentals relative to the metro, not a guarantee of performance but a favorable backdrop for leasing and renewal.
Tenure patterns point to a large renter base: renter-occupied housing accounts for a high share of units in the neighborhood, indicating depth for multifamily leasing. Median home values are elevated for the area, which typically sustains reliance on rental housing and supports pricing power as long as rent-to-income levels remain manageable.
Within a 3-mile radius, demographic statistics show households have increased even as household sizes trend smaller, expanding the pool of potential renters. Forward-looking projections in the same radius indicate growth in both households and incomes, contributing to a larger tenant base. The property’s 2011 vintage is materially newer than the neighborhood’s older housing stock, offering competitive positioning versus prewar inventory while still warranting periodic system upgrades or light modernization to meet today’s renter expectations.
Neighborhood safety metrics are mixed. Compared with neighborhoods nationwide, the area sits below the national median for safety; however, recent year-over-year trends show declines in both property and violent offense rates, an encouraging directional signal for investors.
Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is 363 out of 889 neighborhoods, situating it around the metro middle. Investors should underwrite prudent security measures and monitor ongoing trends rather than rely on short-term improvements.
Proximity to major employers supports renter demand through short commutes and a diversified white-collar employment base, including JetBlue Airways, Loews, Ralph Lauren, HRG Group, and Estée Lauder.
- Jetblue Airways — airlines (2.37 miles) — HQ
- Loews — hospitality & holdings (3.33 miles) — HQ
- Ralph Lauren — apparel (3.40 miles) — HQ
- Estee Lauder — cosmetics (3.43 miles) — HQ
- HRG Group — holding company (3.43 miles) — HQ
2014 31st St is a 47-unit asset built in 2011, materially newer than the surrounding Astoria housing stock. The vintage confers competitive appeal versus older buildings, while allowing for targeted modernization to refresh finishes and common areas as part of a value-add plan. Elevated neighborhood home values and a high concentration of renter-occupied units underpin a deep tenant base. Occupancy in the neighborhood has trended up over the last five years, and, according to CRE market data from WDSuite, local amenity density supports lease retention and day-to-day convenience.
Within a 3-mile radius, households have grown and are projected to continue expanding alongside rising incomes, pointing to a larger renter pool and potential for stable absorption. Rent-to-income levels indicate manageable affordability pressure relative to local incomes, suggesting room for disciplined rent strategies when paired with thoughtful unit positioning.
- 2011 construction offers competitive positioning versus older neighborhood stock with targeted value-add upside
- Amenity-rich Urban Core location supports retention and sustained renter demand
- High renter concentration and elevated ownership costs reinforce depth of the tenant base
- 3-mile household and income growth point to a larger renter pool and leasing stability
- Risk: safety metrics sit below national median; underwrite security and operational controls