| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 77th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2734 21st St, Astoria, NY, 11102, US |
| Region / Metro | Astoria |
| Year of Construction | 2000 |
| Units | 28 |
| Transaction Date | 1996-03-26 |
| Transaction Price | $250,000 |
| Buyer | ADE LLC |
| Seller | TZOLIZ STEVE |
2734 21st St Astoria NY Multifamily Investment
Positioned in an amenity-dense Astoria corridor with a deep renter base, this asset benefits from sustained demand reinforced by elevated ownership costs and proximity to major employment nodes, according to WDSuite’s CRE market data.
Astoria’s Urban Core location delivers strength on daily-life fundamentals. The neighborhood is ranked 47th among 889 New York–Jersey City–White Plains metro neighborhoods, placing it competitively within the region. Amenity access is a standout: groceries, restaurants, parks, pharmacies, and cafes register at or near the top of national comparisons, supporting resident convenience and leasing appeal for smaller-unit inventory.
Renter-occupied housing makes up a high share of neighborhood units, indicating a sizable tenant pool and depth for multifamily leasing. Median contract rents in the area sit on the higher end regionally, while the rent-to-income ratio trends relatively moderate, a combination that can aid retention and reduce turnover risk when operators manage renewals prudently.
Within a 3-mile radius, recent years show modest population softness alongside slightly smaller household sizes, yet forward-looking projections indicate an increase in households and incomes by 2028—signals that can expand the renter base and support occupancy stability. For investors conducting multifamily property research, these dynamics suggest demand resilience even as household composition evolves.
Home values in the neighborhood rank high nationally, reflecting a high-cost ownership market that tends to sustain reliance on rental housing and supports pricing power for well-managed assets. Average school ratings are around the national middle, which aligns with a broad renter profile rather than a narrow family-driven segment.
Neighborhood occupancy levels are measured for the area—not this property—and sit below national and metro medians, a factor that elevates the importance of effective marketing and renewal strategies. However, the property’s 2002 vintage is newer than the neighborhood’s older average stock, offering relative competitiveness versus pre-1980 assets while still warranting selective modernization planning for aging systems.
Safety indicators are neighborhood-level and not property-specific. Compared across the New York–Jersey City–White Plains metro, the area is competitive (crime rank 222 of 889 metro neighborhoods), but when viewed nationally the neighborhood sits in lower safety percentiles. Recent trends are directionally positive, with notable one-year reductions in both violent and property offenses, according to WDSuite’s CRE market data.
For underwriting, this mixed picture suggests emphasizing common-sense security measures and tenant communication while recognizing that metro-relative positioning is stronger than national comparisons. Monitoring trendlines and coordinating with professional management can help sustain leasing performance.
Nearby corporate anchors provide diverse employment across airlines, hospitality, apparel, defense, and beauty—supporting commute-friendly renter demand for this Astoria location. Employers highlighted below are within a short radius and can reinforce weekday stability and lease retention.
- JetBlue Airways — airlines (1.6 miles) — HQ
- Loews — hospitality (2.3 miles) — HQ
- Ralph Lauren — apparel (2.4 miles) — HQ
- Lockheed Martin — defense & aerospace offices (2.4 miles)
- Estée Lauder — beauty & cosmetics (2.4 miles) — HQ
This 28-unit property, built in 2002, is materially newer than much of the surrounding housing stock, which skews 1970s or earlier. The vintage affords a competitive edge versus older walk-ups while still inviting targeted value-add and systems modernization to drive rent positioning. The neighborhood’s high renter concentration and amenity density underpin demand, and elevated ownership costs locally tend to reinforce reliance on rentals. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than metro norms, which places a premium on execution—marketing, renewals, and product differentiation—rather than on market tide alone.
Within a 3-mile radius, forecasts point to growth in households and incomes over the next five years, expanding the tenant base and supporting lease-up and retention strategies. With median contract rents on the higher side but rent-to-income levels that remain manageable for many renters, operators can balance pricing power with retention to sustain cash flow durability over the hold.
- 2002 vintage offers competitive positioning versus older local stock with targeted modernization upside
- High renter-occupied share and amenity-rich setting support depth of tenant demand
- Household and income growth within 3 miles bolster long-run leasing and retention
- Elevated ownership costs locally tend to sustain reliance on multifamily rentals
- Risk: neighborhood-level occupancy softness and nationally weaker safety call for active management