| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 80th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2634 30th St, Astoria, NY, 11102, US |
| Region / Metro | Astoria |
| Year of Construction | 2001 |
| Units | 20 |
| Transaction Date | 2000-12-05 |
| Transaction Price | $200,000 |
| Buyer | 30TH STREET REALTY LLC |
| Seller | IORIO VINCENT G |
2634 30th St Astoria 2002 Multifamily Opportunity
Positioned in Astoria’s urban core, the property benefits from a high renter concentration and deep neighborhood amenities that support leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends lag national norms, but proximity-driven demand drivers and newer vintage help mitigate volatility.
Astoria’s Urban Core location offers daily convenience that underpins renter retention. Amenity access is competitive among New York-Jersey City-White Plains neighborhoods, with restaurants, grocery stores, parks, and pharmacies all ranking in high national percentiles. This concentration of services typically supports shorter search cycles and steadier renewal behavior for multifamily assets.
The neighborhood skews renter-occupied, indicating a deep tenant base for smaller-unit product. Median contract rent in the area trends toward the upper tier nationally, while the neighborhood rent-to-income ratio implies manageable affordability pressure relative to comparable high-cost coastal submarkets, which can aid lease management and renewal performance.
Schools average above the national median on WDSuite’s 5-point scale, and the average construction year in the surrounding housing stock is older than the subject’s 2002 vintage. Newer buildings can compete effectively against legacy inventory, though investors should still plan for routine modernization to remain differentiated.
Demographic statistics aggregated within a 3-mile radius show modest population softening in recent years alongside a small increase in household counts, signaling smaller household sizes and a stable renter pool. Forward-looking projections point to household growth through the period, supporting occupancy stability for well-located multifamily assets based on multifamily property research from WDSuite.
Safety indicators for the neighborhood sit below national averages, with violent and property offense measures in lower national percentiles. However, recent year-over-year trends show double-digit declines in both categories, suggesting directional improvement rather than persistent deterioration.
Within the New York-Jersey City-White Plains metro, the neighborhood’s crime rank is above the metro median among 889 neighborhoods, indicating comparatively better positioning locally even as national comparisons remain weaker. Investors should underwrite with prudent assumptions and focus on property-level controls and lighting, while recognizing the improving trendline.
Nearby corporate offices create a sizable white-collar employment base that supports renter demand and retention, particularly for residents seeking short commutes to Queens and Midtown job nodes. Key employers include JetBlue Airways, Loews, Lockheed Martin, Ralph Lauren, and HRG Group.
- Jetblue Airways — airline HQ & corporate (1.6 miles) — HQ
- Loews — diversified holding company offices (2.7 miles) — HQ
- Lockheed Martin — defense & aerospace offices (2.7 miles)
- Ralph Lauren — apparel corporate offices (2.7 miles) — HQ
- HRG Group — investment holding company offices (2.8 miles) — HQ
Built in 2002, this 20-unit asset is materially newer than the neighborhood’s older housing stock, offering relative competitiveness versus legacy inventory while leaving room for targeted upgrades over the hold. Strong renter-occupied share in the area points to depth of demand, and elevated home values in Queens reinforce reliance on multifamily housing, supporting pricing power and lease retention. According to CRE market data from WDSuite, neighborhood amenities are a key strength, while occupancy levels trend below national norms—an underwriting consideration offset by proximity to dense employment nodes.
Within a 3-mile radius, households have increased slightly despite a modest population dip, and projections call for a larger household base ahead—consistent with smaller household sizes and a broader renter pool. Rent-to-income levels indicate manageable affordability pressure relative to other high-cost metros, which can aid renewal strategies. Main risks are neighborhood safety metrics that trail national benchmarks and the need for periodic modernization to stay competitive.
- 2002 vintage competes well against older neighborhood stock, with selective value-add potential
- High renter concentration and strong amenity access support leasing durability
- Elevated ownership costs in Queens reinforce multifamily demand and pricing power
- 3-mile household growth outlook suggests a larger tenant base and occupancy support
- Risks: below-average national safety metrics and neighborhood occupancy below national norms