| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 77th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2645 9th St, Astoria, NY, 11102, US |
| Region / Metro | Astoria |
| Year of Construction | 1972 |
| Units | 110 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2645 9th St, Astoria NY Multifamily Investment
Urban-core renter demand, high amenity access, and a deep tenant base in Astoria support leasing durability, according to CRE market data from WDSuite’s New York metro dataset.
Astoria’s Urban Core location places the property within a neighborhood that is competitive among New York–Jersey City–White Plains neighborhoods (ranked 47 out of 889). Amenity density is a standout, with restaurant, grocery, park, and pharmacy access in the top quartile nationally, reinforcing daily convenience and renter appeal for workforce and professional tenants.
Renter-occupied share in the neighborhood is high, indicating a deep pool of multifamily demand and supporting absorption and retention for properties similar to this asset. Median contract rents in the area trend above national norms while household incomes also skew higher, and the rent-to-income ratio near 0.25 suggests manageable affordability pressure that can aid lease stability. The average school rating sits around the national middle, which typically supports broad-based demand without being a primary rent driver.
Neighborhood-level occupancy has trended softer than national and metro benchmarks in recent years; investors should underwrite lease-up pacing and renewal strategies accordingly, noting this is a neighborhood statistic rather than property performance. Within a 3-mile radius, recent population counts were flat to slightly lower, but WDSuite’s CRE market data indicate a projected increase in households and incomes over the next five years, implying a larger tenant base with rising spending capacity. The property’s 1972 vintage is slightly older than the neighborhood average year built, pointing to potential value-add and capital planning opportunities to maintain competitiveness versus newer stock.
Safety indicators for the neighborhood are mixed. Relative to national comparisons, recent violent and property offense rates sit in lower national percentiles (less favorable), while year-over-year trends show meaningful improvement with double-digit declines, according to WDSuite’s metro dataset. Within the New York–Jersey City–White Plains region, the neighborhood’s crime rank indicates conditions below the metro average (ranked 222 out of 889), so investors typically account for security measures and resident communication as part of operations.
Framed for investors, the takeaway is directional: recent improvement is a positive signal, but underwriting should reflect ongoing monitoring and appropriate on-site protocols to support resident comfort and leasing outcomes.
Proximity to major corporate offices supports commuter convenience and broad white-collar renter demand. Nearby anchors include JetBlue, Loews, Ralph Lauren, Estée Lauder, and HRG Group, all within a short radius.
- Jetblue Airways — airline HQ (1.7 miles) — HQ
- Loews — diversified holdings (2.2 miles) — HQ
- Ralph Lauren — apparel & lifestyle (2.3 miles) — HQ
- Estee Lauder — beauty & consumer goods (2.3 miles) — HQ
- HRG Group — investment holding company (2.3 miles) — HQ
Positioned in Astoria’s amenity-rich Urban Core, the asset benefits from a high renter-occupied share in the neighborhood, strong access to employers, and household incomes that help sustain rent levels. Neighborhood occupancy has run below broader benchmarks, so the thesis centers on operational execution—targeted renovations, tenant experience, and renewals—to capture demand depth and support steady leasing. Based on CRE market data from WDSuite, local amenity density ranks among the strongest nationally, a factor that typically reinforces absorption and retention for well-managed multifamily assets.
Built in 1972, the property is slightly older than the neighborhood average vintage, creating potential value-add and capital planning levers to improve competitive positioning versus newer product. Within a 3-mile radius, forecasts point to growth in households and rising incomes over the next five years, which supports a larger tenant base and potential for stable occupancy over a longer hold.
- Amenity-rich Urban Core location supports absorption and retention.
- High neighborhood renter-occupied share indicates depth of tenant demand.
- 1972 vintage offers value-add and modernization pathways to enhance competitiveness.
- Household and income growth within 3 miles expands the renter pool over time.
- Risk: neighborhood occupancy trends have been softer; plan for active lease management and resident retention.