| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 77th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2735 21st St, Astoria, NY, 11102, US |
| Region / Metro | Astoria |
| Year of Construction | 2008 |
| Units | 25 |
| Transaction Date | 2006-08-28 |
| Transaction Price | $1,000,000 |
| Buyer | SANVITO REALTY HOLDING CORP |
| Seller | RISPOLI AGOSTINO |
2735 21st St Astoria Multifamily Investment
Amenity-rich Astoria shows a deep renter base and strong neighborhood fundamentals, according to WDSuite’s CRE market data. The setting supports steady leasing with high neighborhood renter-occupied share, while operators should remain attentive to pricing and retention strategies.
Astoria’s Urban Core location offers a dense mix of daily needs and lifestyle amenities. The neighborhood ranks 47th among 889 New York metro neighborhoods by overall rating (A), placing it in the top quartile locally, with grocery, restaurant, park, and pharmacy access testing at the highest national percentiles — a convenience profile that typically supports renter retention and lease-up velocity.
Neighborhood rent levels are elevated relative to many areas nationwide, while the rent-to-income profile indicates manageable affordability pressure. For investors, this combination can sustain pricing power without leaning too hard on concessions, based on CRE market data from WDSuite.
Tenure data indicates a high concentration of renter-occupied housing in the neighborhood, and within a 3-mile radius, renter share remains substantial. This depth of the tenant base supports multifamily demand, even as operators should manage for seasonal leasing patterns and competitive supply in the broader metro.
Demographic statistics aggregated within a 3-mile radius show stable household counts recently and forecasts that point to growth in households through 2028 alongside a gradual shift toward smaller average household sizes. For multifamily, that suggests a larger tenant base and more renters entering the market, which can support occupancy stability over a multi-year hold.
The property’s 2008 vintage is newer than the neighborhood’s typical stock from the 1970s, offering relative competitiveness versus older buildings while still warranting periodic system updates and light modernization to sustain positioning against newer deliveries.
Home values in the neighborhood rank in the upper national percentiles, and value-to-income ratios are also high by national comparison. In practice, this high-cost ownership backdrop tends to reinforce reliance on rental housing, which can aid tenant retention and support steady demand for well-managed multifamily assets.
Safety indicators benchmark below national averages, with both violent and property offense rates positioned in lower national percentiles compared with neighborhoods nationwide. However, estimated rates have declined over the past year, indicating an improving trend, according to WDSuite’s CRE market data.
For investors, the takeaway is to underwrite prudent operating practices—security, lighting, and access controls—while recognizing that recent year-over-year movement shows momentum in the right direction. Comparisons should be made at the neighborhood level rather than the block level, and results may differ within sub-areas of Astoria.
Nearby headquarters and major corporate offices contribute to a broad white-collar employment base, supporting commute convenience and multifamily renter demand from JetBlue Airways, Loews, Ralph Lauren, HRG Group, and Lockheed Martin.
- JetBlue Airways — airline (1.5 miles) — HQ
- Loews — diversified holding company (2.3 miles) — HQ
- Ralph Lauren — apparel & lifestyle brand offices (2.4 miles) — HQ
- HRG Group — holding company (2.4 miles) — HQ
- Lockheed Martin — defense & aerospace offices (2.4 miles)
2735 21st St benefits from a top-quartile neighborhood within the New York metro and exceptional amenity access that supports leasing durability. The asset’s 2008 construction is newer than much of the local stock, offering competitive positioning, while high home values in the area reinforce renter reliance on multifamily housing. Within a 3-mile radius, household trends point to growth and smaller average household sizes, expanding the renter pool and supporting occupancy stability over time.
Operators should plan for disciplined lease management given metro-wide competition and neighborhood-level safety metrics that lag national norms, even as recent year-over-year trends show improvement. According to CRE market data from WDSuite, the neighborhood’s renter concentration and amenity density underpin a durable demand story for well-managed assets.
- Amenity-dense, top-quartile neighborhood within the New York metro supports retention and leasing velocity
- 2008 vintage offers competitive positioning versus older local stock with targeted modernization potential
- High home values and strong renter-occupied share reinforce depth of the tenant base
- 3-mile household growth and smaller household sizes suggest ongoing renter pool expansion
- Risks: below-average safety percentiles and competitive leasing environment call for prudent underwriting and active asset management