| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 77th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2311 31st Ave, Astoria, NY, 11106, US |
| Region / Metro | Astoria |
| Year of Construction | 2002 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2311 31st Ave, Astoria NY Multifamily Investment
2002 construction in an Urban Core pocket with a deep renter base supports durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy and rent dynamics should be evaluated at the submarket level, but nearby amenities and jobs provide a compelling backdrop for lease-up and retention.
Astoria’s Urban Core location delivers rare convenience for renters: grocery, parks, pharmacies, cafes, and restaurants all score at the top of national percentiles, signaling daily-needs and lifestyle amenities within short reach. Within the New York–Jersey City–White Plains metro, the neighborhood’s amenity access ranks competitively (rank 25 out of 889 metro neighborhoods), a tailwind for renter appeal and lease retention.
The property’s 2002 vintage is newer than the neighborhood’s average construction year (1974), giving it a relative competitive edge versus older walk-ups while still warranting selective modernization planning for systems and finishes. Median contract rents in the neighborhood sit in the upper national percentiles, and the renter-occupied share is high relative to the U.S., indicating a deep tenant base and consistent multifamily demand. Note these are neighborhood indicators, not property-level performance.
Demographic statistics aggregated within a 3-mile radius point to stable-to-improving fundamentals for multifamily: households are projected to increase by roughly 45% by 2028 with slightly smaller average household sizes, expanding the renter pool and supporting occupancy stability. Higher home values locally create a high-cost ownership market, which generally sustains reliance on rental housing and can support pricing power when managed alongside rent-to-income and renewal risk.
While the neighborhood occupancy metric has softened in recent years, amenity depth and transit-oriented employment access position this location competitively among metro peers. Investors should underwrite to current neighborhood benchmarks and prioritize unit finishes and operations that resonate with the area’s educated, higher-income renter households.
Neighborhood safety indicators are mixed. Compared with neighborhoods nationwide, the area sits in lower national percentiles for safety, which warrants prudent underwriting and operational planning. Within the New York–Jersey City–White Plains metro, the neighborhood’s crime rank is 222 out of 889, indicating it is above the metro median for reported incidents.
Recent trend data from WDSuite shows estimated violent and property offenses declining year over year, placing those improvements in the upper national percentiles for pace of improvement. Investors can view this as a constructive directional trend, while still accounting for security measures, lighting, and resident communication to support retention.
Proximity to major employers underpins renter demand and commute convenience, with a concentration of corporate offices within roughly 1–3 miles. The nearby base spans airlines, diversified holdings, aerospace, and consumer brands that support steady leasing.
- Jetblue Airways — airline HQ (1.2 miles) — HQ
- Loews — diversified holdings (2.2 miles) — HQ
- Lockheed Martin — defense & aerospace offices (2.3 miles)
- HRG Group — holdings company (2.3 miles) — HQ
- Ralph Lauren — apparel & lifestyle brand (2.3 miles) — HQ
2311 31st Ave offers investors a 2002-vintage asset in a renter-centric, amenity-dense Astoria location. The neighborhood’s high renter-occupied share and elevated home values reinforce reliance on multifamily housing, while proximity to diversified employers supports day-one leasing and renewal prospects. According to commercial real estate analysis from WDSuite, neighborhood rents sit in upper national percentiles and the area’s amenity access is competitive among 889 metro neighborhoods—useful context for positioning and operations.
Forward-looking indicators aggregated within a 3-mile radius point to renter pool expansion as households are projected to rise materially by 2028 and average household sizes trend smaller. Balanced against this, neighborhood occupancy has softened, suggesting investors should emphasize targeted upgrades, marketing, and revenue management to win share from older stock.
- 2002 construction provides relative competitive positioning versus older neighborhood inventory with selective value-add potential
- High renter-occupied share and elevated ownership costs deepen the tenant base and can support pricing power
- Amenity-rich Urban Core setting and nearby employers support leasing velocity and renewal retention
- Demographic outlook (3-mile radius) indicates household growth and a larger renter pool by 2028
- Risk: neighborhood occupancy has eased; plan for competitive positioning, security, and data-driven revenue management