| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 80th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2533 23rd St, Astoria, NY, 11102, US |
| Region / Metro | Astoria |
| Year of Construction | 1974 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2533 23rd St, Astoria NY — Multifamily Value-Add in Amenity-Rich Core
Renter-occupied share in the neighborhood is high and amenities are dense, supporting leasing fundamentals, according to WDSuite’s CRE market data. Neighborhood occupancy and rent signals reflect the area, not this property, and point to steady renter demand.
Astoria’s Urban Core setting offers daily convenience and lifestyle drivers that matter for retention. Amenity access is competitive among New York-Jersey City-White Plains neighborhoods (158 of 889) and in the top quartile nationally by WDSuite’s measures. Restaurant and grocery densities sit near the 99th percentile nationwide, with parks and pharmacies also in very high percentiles, indicating walkable coverage that supports day-to-day living and renter stickiness.
Schools in the area average about the 70th percentile nationally, suggesting broadly serviceable options for family renters. Cafés (about the high-80s percentile) and childcare availability (mid-70s percentile) add depth to neighborhood services that help stabilize demand across household types.
Tenure patterns point to a durable renter base: within the neighborhood, an estimated 62.3% of housing units are renter-occupied, reinforcing depth of demand for multifamily product. Median contract rent levels are high relative to much of the country (around the low-90s national percentile), yet the rent-to-income ratio trends near the lower end nationally, suggesting affordability pressure is less acute than in many coastal peers—an investor consideration for pricing power and renewals.
Within a 3-mile radius, demographics show a large urban renter pool with modest historical shifts in population and households and projections indicating increases in population and households over the next five years, implying a larger tenant base. Elevated home values (about the high-90s percentile nationally) and a high value-to-income ratio reinforce that ownership remains costly locally, which typically sustains renter reliance on multifamily housing rather than drawing tenants into ownership.
Vintage context: the property’s 1974 construction is newer than the neighborhood’s average vintage (mid-1950s), which can enhance competitive positioning versus older stock, while still warranting attention to building systems and targeted modernization to meet current renter expectations.
Safety indicators, benchmarked by WDSuite, are below national averages for this neighborhood, with both violent and property offense rates comparing unfavorably to many U.S. neighborhoods. Recent trend data show year-over-year declines in estimated violent and property offenses, which is a constructive signal to monitor rather than a completed shift.
Investors should frame these conditions in context: urban-core amenity and job access can offset some risk perceptions, but leasing strategies and property operations may benefit from enhanced security measures and resident engagement. Local performance should be evaluated against peers across the New York-Jersey City-White Plains metro rather than block-level readings.
Proximity to major employers supports renter demand and commute convenience, with workforce draws from JetBlue Airways, Loews, Ralph Lauren, Estée Lauder, and HRG Group concentrated within roughly three miles.
- JetBlue Airways — airlines (1.7 miles) — HQ
- Loews — diversified holdings (2.6 miles) — HQ
- Ralph Lauren — apparel (2.6 miles) — HQ
- Estée Lauder — beauty & personal care (2.6 miles) — HQ
- HRG Group — holding company (2.6 miles) — HQ
2533 23rd St is a 31-unit asset positioned in an amenity-dense Astoria location where renter-occupied share is high, homeownership costs are elevated, and proximity to major employers supports demand. Based on CRE market data from WDSuite, neighborhood rent levels are high by national standards while rent-to-income ratios appear comparatively manageable, which can underpin renewal rates and measured pricing moves. The 1974 vintage is newer than much of the local stock, offering competitive positioning versus older buildings while still presenting scope for targeted systems upgrades or unit renovations.
Demographic statistics aggregated within a 3-mile radius indicate a large urban renter pool with projections for population and household growth, reinforcing the long-run leasing funnel. Investors should balance these demand drivers against metro-level occupancy softness and below-average safety metrics by underwriting conservatively and prioritizing operational execution.
- Amenity-rich Urban Core location with top-tier national access to restaurants, groceries, parks, and services that support retention.
- High renter-occupied share locally and costly ownership environment sustain depth of demand for multifamily units.
- 1974 construction offers a relative edge versus older neighborhood stock, with value-add potential via selective modernization.
- Large 3-mile workforce catchment near multiple headquarters supports leasing and reduces commute frictions.
- Risks: below-average safety indicators and metro-level occupancy softness warrant conservative underwriting and active management.