| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Good |
| Demographics | 77th | Best |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3130 33rd St, Astoria, NY, 11106, US |
| Region / Metro | Astoria |
| Year of Construction | 2012 |
| Units | 39 |
| Transaction Date | 2011-01-31 |
| Transaction Price | $3,012,000 |
| Buyer | HANAC INC |
| Seller | THE PRESBYTERIAN CHURCH OF ASTORIA |
3130 33rd St, Astoria NY Multifamily Asset
Amenity-dense Urban Core location with a deep renter base suggests durable leasing potential, according to WDSuite’s CRE market data.
Astoria’s Urban Core setting delivers exceptional daily convenience for renters. Neighborhood amenity access ranks among the top tier in the New York-Jersey City-White Plains metro, with grocery, restaurants, parks, and pharmacies positioned in the highest national percentiles. For investors, this density supports touring traffic, day-to-day livability, and lease retention relative to less amenitized submarkets.
The neighborhood skews renter-occupied (share of housing units), indicating a sizable tenant base for multifamily. Median contract rents in the neighborhood are elevated for the region and have risen over the last five years, while the rent-to-income profile suggests manageable affordability pressure in this submarket; active lease management remains important to sustain pricing power and retention.
Property vintage matters: built in 2012, this asset is materially newer than the neighborhood’s average 1970s-era stock. Newer construction can compete well against older inventory on finishes and systems, though investors should still plan for mid-life capital items and selective repositioning to match today’s renter expectations.
Neighborhood-level occupancy has been softer recently, which can extend lease-up timelines or elevate concessions in certain seasons. Counterbalancing this, 3-mile demographics show a large residential base with households and families projected to grow through the current forecast window, pointing to a larger tenant pool and demand support over time. School ratings are around the national midpoint, which is typical for dense urban districts and generally neutral for Class B/B+ renter demand.
Home values in the neighborhood are high relative to incomes (top national percentiles), a hallmark of New York ownership markets. Elevated ownership costs tend to sustain reliance on rental housing, reinforcing depth of demand for well-located multifamily and supporting occupancy stability through cycles.
Safety indicators for the neighborhood trend below national averages, with crime levels placing it less safe than many U.S. neighborhoods. Within the New York-Jersey City-White Plains metro’s 889 neighborhoods, its position suggests investors should underwrite prudent security and operational practices.
That said, recent year-over-year data show meaningful declines in both violent and property offense rates, placing these improvements above many peer neighborhoods nationwide. For investors, this trend can help support leasing and retention, but continued monitoring of submarket conditions remains appropriate.
Proximity to major employers supports commuter convenience and broad white-collar renter demand. The nearby base spans aviation, finance, and diversified corporate offices, which can aid leasing velocity and retention for workforce and professional tenants.
- JetBlue Airways — aviation HQ (0.98 miles) — HQ
- Lockheed Martin — defense & aerospace offices (2.37 miles)
- Loews — diversified holding company (2.43 miles) — HQ
- HRG Group — investment holding company (2.45 miles) — HQ
- Citigroup — banking & financial services (2.46 miles) — HQ
This 39-unit, 2012-vintage asset benefits from an amenity-rich Astoria location, a high concentration of renter-occupied housing, and strong access to major employers. These fundamentals point to durable demand and competitive positioning versus older neighborhood stock. According to CRE market data from WDSuite, neighborhood occupancy has been softer, but elevated home values and sustained renter reliance in the metro can underpin leasing stability for well-managed assets.
Forward-looking 3-mile demographics indicate growth in households and families, implying a larger tenant base over the forecast period. Investors should plan for standard mid-life capital items while leveraging location advantages and professional tenant demand to drive consistent performance.
- 2012 construction competes well against older neighborhood inventory, reducing near-term obsolescence risk.
- Amenity-dense Urban Core location supports leasing velocity and retention.
- High renter-occupied share indicates depth of tenant demand for multifamily units.
- Major employers within 3 miles bolster commuter appeal for professional renters.
- Risk: neighborhood-level occupancy has been softer; underwrite concessions and active lease management.