| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 77th | Best |
| Amenities | 81st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2160 33rd St, Astoria, NY, 11105, US |
| Region / Metro | Astoria |
| Year of Construction | 2007 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2160 33rd St Astoria Multifamily Investment
Positioned in Astoria’s Urban Core with deep renter demand and strong amenity access, the asset benefits from a high renter-occupied neighborhood and steady occupancy, according to WDSuite’s CRE market data.
Astoria’s Urban Core location delivers daily convenience that supports leasing durability. Grocery, pharmacy, cafe, and restaurant densities rank in the top tier nationally, translating into walkable access that helps sustain renter interest and renewal prospects. Neighborhood stature is top quartile among 889 metro neighborhoods (overall A rating), signaling competitive fundamentals versus the wider New York metro.
The neighborhood shows a high renter concentration: renter-occupied housing accounts for a substantial share of units (ranked 97 out of 889), indicating a deep tenant base for multifamily owners. Reported neighborhood occupancy is stable and roughly mid-pack nationally, with modest five‑year improvement that supports baseline cash flow planning rather than outsized volatility.
Ownership is a high-cost proposition locally, with home values and value-to-income measures in the upper national percentiles. For investors, a high-cost ownership market typically reinforces reliance on rental housing and can aid pricing power while prioritizing lease management to balance affordability pressure (neighborhood rent-to-income is comparatively manageable by national standards).
Within a 3‑mile radius, demographics indicate household growth alongside smaller average household sizes in recent years, expanding the renter pool. Forward-looking projections point to additional population growth and a pronounced increase in households, which would enlarge the addressable tenant base and support occupancy stability. Income measures are rising faster than the national pace, which can underpin effective rents without overextending lease retention risk.
The average neighborhood construction vintage skews older (1940s), while the subject was built in 2007. Newer stock relative to local competition can enhance curb appeal and operational competitiveness versus prewar buildings, though capital planning should still account for mid‑life systems and selective modernization to meet current renter expectations.
Safety indicators for the neighborhood track below national averages, with violent and property offense measures in lower national percentiles. Within the New York metro, the area’s crime standing is below the metro median (ranked 363 out of 889 neighborhoods). Recent data show year‑over‑year declines in both violent and property offense estimates, suggesting gradual improvement, but investors should underwrite prudent security, lighting, and operations protocols consistent with Urban Core assets.
Proximity to diversified corporate employers supports commuter convenience and renter retention, particularly for airline, hospitality, apparel, investment, and defense office workers based nearby.
- Jetblue Airways — airline (2.3 miles) — HQ
- Loews — hospitality (3.3 miles) — HQ
- Ralph Lauren — apparel (3.4 miles) — HQ
- HRG Group — investment holding (3.4 miles) — HQ
- Lockheed Martin — defense & aerospace offices (3.4 miles)
Built in 2007 with 25 units, 2160 33rd St offers newer-vintage positioning against a predominantly prewar competitive set in Astoria. The neighborhood’s high renter share, strong amenity access, and mid‑pack but steady occupancy create a durable demand backdrop for smaller‑format units, supporting consistent leasing and operational competitiveness. Based on CRE market data from WDSuite, ownership costs remain elevated locally, which reinforces reliance on multifamily housing and can support rent resilience when paired with careful lease management.
Within a 3‑mile radius, forecasts call for population growth and a sizable increase in households alongside smaller average household size—conditions that typically expand the tenant base and support occupancy stability over the medium term. While safety metrics are below national averages, recent year‑over‑year improvements and the asset’s relative vintage provide a path to sustain cash flow with targeted capex for modernization and resident experience.
- Newer 2007 construction versus older neighborhood stock enhances competitive positioning and curb appeal.
- High renter-occupied neighborhood with strong amenity access supports demand depth and renewal potential.
- Elevated ownership costs locally reinforce renter reliance, aiding pricing power with prudent lease management.
- 3‑mile forecasts indicate population and household growth, expanding the renter pool and supporting occupancy stability.
- Risks: safety readings below national averages and only mid‑pack occupancy rank—underwrite security, operations, and capex accordingly.